Impact Innovations to Sell Government Division; Commercial Division to Continue to Serve Dallas, Atlanta
02 Agosto 2004 - 9:25PM
PR Newswire (US)
Impact Innovations to Sell Government Division; Commercial Division
to Continue to Serve Dallas, Atlanta ATLANTA, Aug. 2 /PRNewswire/
-- Information technology (IT) services leader Impact Innovations
Group announced today it has agreed to sell its Government Division
to Dynamics Research Corporation (NASDAQ:DRCO) for $53.4 million in
cash. Impact's Commercial Division will subsequently be purchased
by the current operating management team and continue to serve
Fortune 500 and middle market customers in Dallas and Atlanta. The
companies expect the transactions to close in the third quarter.
"These transactions offer a successful conclusion for our financing
partners, Cravey Green and Wahlen and Allied Capital. The
government operation will benefit by becoming part of a larger
company that is focused primarily on government IT services. Its
success and growth under the leadership of division president Ellen
Glover made them a logical acquisition candidate," said Jim Childs,
chief executive officer of Impact Innovations. "At the same time,
this transaction will allow the management team that has built the
commercial division an opportunity to assume control and expand the
successful middle market business in Atlanta and Dallas," he added.
Impact Government is recognized as a leading provider of strategic
IT services primarily to the Intelligence and Defense agencies of
the Federal government. In 2003, the unit secured Federal contracts
in excess of $165 million. The $40 million commercial operation,
with 335 employees, will retain the Impact Innovations brand and
continue to provide IT consulting, staffing and outsourcing
services. It will be led by current partners John Martin and Jon
Piot. The unit will be based in Dallas with an office in Atlanta.
Clients include Texas Instruments, Cox Communications, Mary Kay,
RPC, Inc. and Blockbuster. "The commercial operation has been
successful and this transaction will provide the company with
increased flexibility and focus to better serve major and
mid-market companies," Martin, Impact's executive vice president,
said. "Our commitment to mid-market companies is clearer than ever
and we will continue to tailor our services to better complement
their unique IT needs, while serving our larger clients," added
Martin. Impact's consulting service helps organizations maximize IT
investments and streamline internal operations, while the company's
outsourcing services provides help desk and application management.
The staffing arm sources IT professionals on a contract, permanent
or managed services basis for both large and mid-size companies.
Impact Government, with offices in Washington D.C., manages IT
projects for several Federal agencies, including the National
Security Agency, Federal Deposit Insurance Corporation and the
National Archives and Records Administration. About Impact
Innovations Group Impact Innovations Group is a $90 million
provider of IT Execution and Outsourcing Services to government
agencies and mid-market companies. The company's talented
professionals, proprietary project management methodology and
quality assurance processes help clients achieve exceptional
results through information technology. Please visit
http://www.impactinnovations.com/ to learn more. DATASOURCE: Impact
Innovations Group CONTACT: Fred Stern, ext. 260, or , or Thomas
Moore, ext. 229, or , both for Impact Innovations Group,
+1-214-373-1601 Web site: http://www.impactinnovations.com/
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