CACI to buy intel firm
- By Nick Wakeman
- Sep 24, 2007
CACI International Inc. plans to strengthen its intelligence capabilities with a $200 million proposed acquisition of Athena Innovative Solutions Inc.
The acquisition will add 600 employees to CACI, with 95 percent of the new employees possessing Top Secret or above security clearances. The deal is expected to close by Nov. 1.
Athena of Alexandria, Va., is expected to have about $110 million in revenue for 2007. The company provides strategy and planning development, training and technical, operational and management services.
Athena has expertise in homeland security, critical infrastructure security and national security. It also has expertise in information operations, force protection, law enforcement, integration, legal support and information technology.
"We believe intelligence is part of America's front line of defense in countering terrorist threats, and we are committed to enhancing our nation's intelligence capabilities. The acquisition of Athena will give us additional intelligence expertise to meet this objective," said Paul Cofoni, CACI president and chief executive officer.
Veritas Capital owned Athena, having acquired MZM Inc. in October 2005. MZM had become mired in controversy over the relationship between its majority owner Mitchell Wade and now former Rep. Randy Cunningham (R-Calif.).
MZM was renamed Athena and was an active acquirer in 2006, picking up BDS Corp., IPA International and Operational Concepts LLC.
In the deal with CACI, Athena was represented by the investment bank Jefferies Quarterdeck.
CACI ranks No. 22
on Washington Technology's 2007 Top 100 list
of the largest federal government prime contractors.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.