VSE Telecommunications Technologies DivisionAcquires Collaborative Technologies and Environments Business
ALEXANDRIA, Va., Jan. 5 /PRNewswire/ -- VSE (Nasdaq: VSEC) reported today that it entered into a Purchase and Sale Agreement to acquire the "Collaborative Technologies and Environments" business of Group Decision Support Systems, Inc. The acquired business, which will be merged into VSE's Telecommunications Technologies Division, is expected to add to VSE earnings in 2001. Acquisition pricing was not disclosed.
VSE Chairman and Chief Executive Officer Donald M. Ervine said, "This important acquisition continues our strategy to support customers with effective knowledge management and information technology solutions. Our new Telecommunications Technologies Division ("VSE/TTD") markets VSE's growing capability to provide customers with the latest products, services, and support in network, multimedia, and audio-visual technology."
VSE/TTD (http://www.vsecorp.com/ttd ) specializes in consulting, designing, purchasing, integrating, installing, cabling, maintaining and staffing products and services to create state-of-the-art, network and multimedia technology systems. This includes "Turnkey" design, installation, management and support for a wide variety of voice, data, multimedia and related projects. The VSE/TTD network management services staff possesses strong technical skills and certifications for assessing, planning, and executing a variety of network and telecommunications strategies customized to meet client requirements. Similarly, the VSE/TTD multimedia and audio-visual technologies staff has extensive experience and can provide detailed engineering, installation, programming, operations and maintenance of the most sophisticated and popular multimedia and audio-video systems.
TTD Division Manager Tom Stallone (703-926-8204, Stallone-Tom@vsecorp.com) said, "The acquisition of the Collaborative Technologies and Environments business adds a range of important capabilities, contract experience, and key personnel to our division. It also gives us an opportunity to serve more customers with a broader set of tools and experience to meet network and multimedia technology systems requirements. We are very excited about this addition to our business, and we plan to make our improved capabilities available to our customers at once."
Current VSE/TTD efforts include high visibility projects for the government and industry, including projects for Federal command centers, state and local government conference centers, telecommunications industry centers, collaboration/decision support centers (Fusion Centers), and public school system telecommunications equipment and cabling system upgrades.
VSE pro vides diversified services and products to the engineering, energy, environment, information technology, postal, and defense services markets. VSE's principal customers are agencies of the U.S. Government and other government prime contractors. The company provides services and products from about 15 locations across the United States and around the world.
VSE reported consolidated revenues of $93.0 million and earnings of $1.3 million ($0.63 a share) for the nine-month period ended September 30, 2000. VSE shares are traded on Nasdaq under the symbol "VSEC." Further information about VSE is available at vsecorp.com . |
