PAE Inc logo

PAE - PAE Inc News Story

$8.11 -0.1  -0.9%

Last Trade - 3:35pm

Sector
Industrials
Size
Mid Cap
Market Cap £552.6m
Enterprise Value £1.14bn
Revenue £1.97bn
Position in Universe 3113th / 6854

PAE Completes Acquisition of CENTRA Technology

Fri 20th November, 2020 9:30pm
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20201120:nGNX59CQd


FALLS CHURCH, Va., Nov. 20, 2020 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW),
a global leader in delivering smart solutions to the U.S. government and its
allies, today announced that it has completed its acquisition of CENTRA
Technology, Inc. The transaction brings new, value-added service and
technology offerings to PAE’s portfolio, including intelligence analysis,
communication systems integration and research and development services.

PAE President and CEO John Heller commented:

“The acquisition of CENTRA expands PAE’s addressable market into new,
attractive mission-critical business areas, opening up important higher growth
and margin market areas for the worldwide PAE enterprise. The combination of
PAE’s and CENTRA’s capabilities and experience will position PAE to bid a
significantly expanded pipeline of opportunities that were previously not
actionable to PAE prior to the acquisition. In addition, through the
combination with CENTRA, PAE adds uniquely qualified employees to our global
workforce with subject matter expertise across a broad range of critical
national security issues.” 
   
This transaction brings together complementary capabilities and customer
relationships, as well as an attractive IDIQ contract portfolio, to help
accelerate PAE’s long-term growth strategy. The acquisition strengthens
PAE's intelligence, defense and national and homeland security businesses in
areas of high priority for the U.S. federal government.

About PAE

For 65 years, PAE has tackled the world’s toughest challenges to deliver
agile and steadfast solutions to the U.S. government and its allies. With a
global workforce of approximately 20,000 on all seven continents and in
approximately 60 countries, PAE delivers a broad range of operational support
services to meet the critical needs of our clients. Our headquarters is in
Falls Church, Virginia. Find us online at pae.com
(https://www.globenewswire.com/Tracker?data=TZFi7Qed6BlRZVWXEcGZ-zp2x3PTXjGJAA0XZN3bTsLMiJ6RjefzoLi1w9Dc3PhzxPgO8VYQbDqQv3oIlPKvaQ==),
on Facebook
(https://www.globenewswire.com/Tracker?data=vKeS6A2FHGxIpyPseX1ZQrFDccu7-qekf2ksDyTrJ1rsBTE0wFBlusH_UOZEck7A_RKhF9FwzQfFbPnenpywDpYv-FT8UHWmcypJxgtPQP8=),
Twitter
(https://www.globenewswire.com/Tracker?data=h-2ZnakWE82UZQVsW-frbFeVdgy2orv_cUT_q51Kwih1zGvXHM3z3v_d7CEJay3UZwuCN7xeUocO7t2WJ6UCGg==)
and LinkedIn
(https://www.globenewswire.com/Tracker?data=pczdHqyk6twnClqoXKefB4LfjD1ITAR4LG1gWWJs-KqyRIPOItaiBTHM17efpBza5T7yvHChY2k47rdxjDZBbU6omp9o-PrHZHVGtj1tfDw=).

Forward-Looking Statements

This press release contains a number of “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to, statements about
our expectations and projections regarding the acquisition of CENTRA
Technology, Inc., PAE’s possible or assumed future results of operations,
financial results, backlog, estimation of resources for contracts, strategy
for and management of growth, expansion of the business into high growth and
margin market areas, needs for additional capital, risks related to government
contracting generally, including failures to properly manage projects and
subcontractors, susceptibility to claims, litigation and other disputes, and
risks related to public health crises. These forward-looking statements are
based on PAE’s management’s current expectations, estimates, projections
and beliefs, as well as a number of assumptions concerning future events.

These forward-looking statements are not guarantees of future performance,
conditions or results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of which are
outside PAE’s management’s control, that could cause actual results to
differ materially from the results discussed in the forward-looking
statements.

Forward-looking statements included in this release speak only as of the date
of this release. PAE does not undertake any obligation to update its
forward-looking statements to reflect events or circumstances after the date
of this release except as may be required by the federal securities laws.

For investor inquiries regarding PAE:

Mark Zindler
Vice President Investor Relations
PAE
703-717-6017
mark.zindler@pae.com

For media inquiries regarding PAE:

Terrence Nowlin
Senior Communications Manager
PAE
703-656-7423
terrence.nowlin@pae.com


(https://www.globenewswire.com/NewsRoom/AttachmentNg/fcc8a68c-a0d6-41da-9db8-5dd40cc2bf70)



GlobeNewswire, Inc. 2020
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.