Condor Technology Solutions Announces Pending Sale of Government Solutions Division To CACI International Inc.Business Editors Condor Technology Solutions Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets:CTSI CTSI Census Tract Street Index (US Census Bureau) CTSI California Traffic Safety Institute CTSI Corbett Technology Solutions, Inc. (Chantilly, VA) CTSI Central Terminal Signaling Interface ), a provider of technology and communications services, today announced the pending sale of its Government Solutions Division (GSD GSD German Shepherd Dog GSD Graduate School of Design GSD Glycogen Storage Disease GSD General Services Division GSD Gundam Seed Destiny (anime) GSD Ground Sample Distance GSD Geometric Standard Deviation , with annual revenues of approximately $20 million) to CACI CACI - A company developing and marketing SIMSCRIPT, MODSIM and other simulation software products. Telephone: +1 (619) 457-9681. International Inc (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CACI), a leading provider of information technology and networking solutions to the federal government marketplace. Under the terms of the agreement, the acquisition is expected to be completed in August after approval of the sale by Condor's shareholders. Other terms of the transaction were not disclosed. "The divestiture of GSD helps Condor reduce its long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and gives the employees of GSD the opportunity to grow and prosper," said Jim Huitt, Condor president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . The Government Services Division includes Condor's management consulting, strategic planning, interactive training and communications, and call center support to the Department of Veterans Affairs and the National Guard Bureau. Remaining Condor divisions include the Infrastructure Support Division, which offers procurement solutions, infrastructure support services and help desk services, and the Enterprise Performance Solutions Division, a certified reseller of SAP software to small and mid-sized businesses. CACI Chairman and CEO Dr. J.P. (Jack) London stated, "The acquisition of Condor's Government Solutions Division will support CACI's long-term strategy to broaden our services to our federal government client base. We look forward to welcoming GSD's employees and the value their contributions will bring to our company, our clients, and our shareholders." Condor Technology Solutions Inc. Condor Technology Solutions is a technology and communications company specializing in the organization, analysis and creative distribution of business information. The company's business practices include Web development, business intelligence, contact center services, infrastructure support and marketing communications. Condor is headquartered in Baltimore, Md., with offices and operations throughout the MidAtlantic Region. The company's Web site is www.cndr.com. |
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