C3 ACQUIRES TELOS CORPORATION
C3 ACQUIRES TELOS CORPORATION HERNDON, Va., Jan. 14 /PRNewswire/ -- C3, Inc. (NASDAQ: CTHPP), a
longstanding computer systems integrator and maintenance services provider, has completed the acquisition of Telos Corporation from GTE (NYSE: GTE) for $40 million.
In announcing the acquisition, Fred Knoll, chairman of the board of C3, said, "Our company will now have over 2,000 employees and sales of over $225 million. This acquisition is the next logical step in our strategy of building a full service information technology company that provides custom solutions through consulting services, software development, integration of off the shelf and custom hardware, and the maintenance of these and other software and hardware systems." Founded in 1969, C3 products and systems have been cited for their outstanding performance during Operation Desert Storm. The company pioneered the development of Environmentally Indifferent Computing -- products that function under adverse weather conditions and in hostile environments. Telos Corporation, founded 22 years ago, is headquartered in Santa Monica, Calif. It was acquired by GTE in February 1991 as part of its merger with Contel. Telos provides software development services as well as third party maintenance of computer equipment and software to commercial and government customers. Anthony Craig, president and CEO of C3, stated, "Telos has a superb group of employees that we feel will blend well with C3 and make a significant contribution to our growth strategy in the next decade. Moreover, Telos' businesses clearly complement C3's." -0- 1/14/92 /CONTACT: Richard C. Auletta of R.C. Auletta and Company, 212-355-0400, for C3/ (CTHPP GTE) CO: C3, Inc.; Telos Corporation ST: Virginia, California IN: CPR SU: TNM FC-KW -- NY071 -- 9766 01/14/92 17:43 EST
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|Date:||Jan 14, 1992|
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