BAE Systems Announces Agreement to Buy L-1's SpecTal, LLC, Advanced Concepts, Inc., and McClendon, LLC
20 Sep 2010 | Ref. 212/2010
ARLINGTON, Virginia - In response to growing demand for intelligence and security services, BAE Systems today announced it has entered into a definitive agreement to acquire L-1 Identity Solutions, Inc.'s Intelligence Services Group, which is comprised of SpecTal, LLC, Advanced Concepts, Inc., and McClendon, LLC, for a total purchase price of $295,833,000.
SpecTal, LLC, Advanced Concepts, Inc., and McClendon, LLC are highly regarded suppliers to the U.S. intelligence and defense communities that will complement BAE Systems' growing Intelligence & Security sector, which focuses on four key customer missions - intelligence and counterintelligence, homeland security, law enforcement and support to military operations.
"The acquisition of SpecTal, LLC, Advanced Concepts, Inc., and McClendon, LLC will significantly advance our offerings to the U.S. intelligence community. Their capabilities will enhance BAE Systems' existing knowledge and expertise and will better position us to offer our government customers the security and intelligence support they need to complete their missions, now and in the future," said Linda Hudson, president and CEO of BAE Systems, Inc.
The acquisition of L-1's Intelligence Services Group reflects BAE Systems' global strategy to enhance and grow its business in the area of customer support and services, which includes cyber and security as well as readiness and sustainment activities. For the six months to 30 June 2010, this area of the business generated 49% of BAE Systems revenues.
"I am extremely proud of L-1's accomplishments and the role we have played in helping solve the nation's most challenging national security and intelligence concerns," said Robert V. LaPenta, Chairman, President and CEO of L-1 Identity Solutions. "Given the strong presence BAE Systems has today in the intelligence, homeland security, and national defense communities, as well as across all levels of U.S. law enforcement, we believe that the L-1 intelligence services businesses will complement and enhance BAE Systems' business and provide greater opportunities for our employees moving forward."
Upon successful closing, the more than 1,000 skilled information and security employees of SpecTal, LLC, Advanced Concepts, Inc., and McClendon, LLC will join the BAE Systems Intelligence & Security sector, which is led by John Gannon and based in Arlington, Va. The addition of their resources will strengthen BAE Systems' ability to address the security needs of information-based missions of the U.S. Department of Defense, Department of Homeland Security, and intelligence community customers.
The proposed acquisition is conditional, among other things, upon receiving certain U.S. regulatory approvals and is expected to close in the fourth quarter of 2010.
About L-1 Identity Solutions, Inc.
L-1 Identity Solutions, Inc. (NYSE: ID) protects and secures personal identities and assets. Its divisions include Biometrics / Enterprise Access and Secure Credentialing solutions, as well as Enrollment and Government Consulting services. With the trust and confidence in individual identities provided by L-1, international governments, federal and state agencies, law enforcement and commercial businesses can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions has more than 2,200 employees worldwide and is headquartered in Stamford, CT. For more information, visit www.L1ID.com.
About BAE Systems
BAE Systems is a global defense, security and aerospace company with approximately 107,000 employees worldwide. The Company delivers a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support and services. In 2009 BAE Systems reported sales of £22.4 billion (US$ 36.2 billion).
For further information, please contact
Lindsay Walls, BAE Systems
Tel: +44 (0) 1252 383074 Mobile: +44 (0) 7793 427582
lindsay.walls@baesystems.com
Clark Dumont, BAE Systems
Tel: +1 703 387 2247 Mobile: +1 603 809 1467
clark.p.dumont@baesystems.com
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