Telos Announces Sale of Field Engineering Division to Carr & Company for $10 Million
ASHBURN, Va.--(BUSINESS WIRE)--Oct. 1, 1999--Telos(R) Corporation, the global provider of e-Solutions for Connected Enterprises(TM), today announced the sale of its computer maintenance and service business to TFE Technology Holdings, an affiliate of Carr
& Company, for $10 million.
The sale of Telos Field Engineering (TFE), with approximately 250 employees, was completed on September 29, 1999. Headquartered at Bountiful, Utah, TFE provides computer maintenance and service to the US Government and commercial entities worldwide.
According to John B. Wood, President and CEO of Telos, the sale of this division is part of an ongoing effort to align corporate resources with the Company's business direction. "We are focused on developing and providing innovative solutions that bring our customers to the Web. Telos' e-solutions can help our customers save money, improve reaction times, and get closer to their own customers. Moving forward, all of our efforts will be addressing these needs." |
