DYNCORP MAKES 10TH ACQUISITION IN THREE YEARS; BUYS ASSETS OF NETWORK MANAGEMENT, INC.
RESTON, Va., Dec. 10 /PRNewswire/ -- DynCorp today announced its tenth acquisition since going private in 1988. DynCorp acquired certain assets of NMI Systems Inc. (NMI), a subsidiary of Network Management, Inc., a leading provider of telecommunications and network services, headquartered in Fairfax, Va. The purchase adds $18.5 million in annual revenues and strengthens DynCorp's professional and technical services capabilities. Founded in 1976, NMI provides telecommunications operations, engineering and local and wide area network design, and consulting services to the U.S. government. NMI has been the Environmental Protection Agency's leading telecommunications services contractor for more than 10 years. In addition, NMI is driving the technology transformation of the U.S. Treasury Department through network design, telecommunications technologies and network consulting and acquisition support, and is a participant in the telecommunications strategy for IRS tax system modernization. NMI also performs network management and training services for intelligence agencies and the General Services Administration, and assists the U.S. Postal Service with management of their local and wide area networks. According to James H. Duggan, executive vice president of DynCorp, the NMI acquisition represents a strategic expansion of the company's information technology business. "The telecommunications and network services market is rapidly growing and is expected to sustain a high growth rate in the information technology arena. Federal government agencies are using network services as they downsize and distribute computing processes throughout their organizations. NMI adds solid telecommunications expertise to DynCorp's core information technology capabilities, and is a major building block in achieving our long range technical services business goals," said Duggan. DynCorp President and CEO Dan R. Bannister added that the acquisition strengthens DynCorp's capability to offer total enterprise solutions to the information technology market. "NMI augments DynCorp's core technical competencies in information resource planning and systems design, engineering, and management with excellent telecommunications and network expertise," said Bannister. Headquartered in Reston, DynCorp is one of the nation's largest U.S. defense contractors. With 22,000 employees and annual revenues of $1 billion, DynCorp is also one of the largest employee-owned companies in the country. DynCorp provides professional and technical services to U.S. and foreign government agencies and commercial clients worldwide. -0- 12/10/93 /CONTACT: Jamie Plumhoff of Dyncorp, 703-264-8730/
CO: Dyncorp; Network Manangement Inc. ST: Virginia IN: TLS SU: TNM
IH-DS -- DC034 -- 2791 12/10/93 17:00 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Dec 10, 1993|
|Previous Article:||E.W. SCRIPPS RELEASES NOVEMBER REVENUE AND STATISTICAL REPORT|
|Next Article:||AMWAY WATER TREATMENT SYSTEM IS ANSWER FOR CONCERN ABOUT CYSTS IN DRINKING WATER|