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PAE - PAE Inc News Story

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Sector
Industrials
Size
Mid Cap
Market Cap £535.0m
Enterprise Value £1.12bn
Revenue £1.96bn
Position in Universe 3132nd / 6850

PAE Completes Acquisition of Metis Solutions

Mon 23rd November, 2020 9:30pm
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FALLS CHURCH, Va., Nov. 23, 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 Metis
Solutions Corporation. The transaction expands and builds scale in PAE’s
offerings for intelligence analysis, training and program support — high
priority market areas of the U.S. government and allied nations.

PAE President and CEO John Heller commented:

“The acquisition of Metis strategically positions PAE with new and
attractive customers and contract vehicles across the intelligence and defense
communities. PAE, combined with Metis and the recently completed CENTRA
Technology acquisition, significantly expands our capabilities across the
intelligence and national security communities. These acquisitions deliver
significant revenue growth potential as we obtain additional contract vehicles
and further expand PAE’s diverse skillsets.”
   
In addition to the strategic market expansion attributes, the acquisition is
expected to be accretive to organic revenue growth, adjusted EBITDA margins
and free cash flow per share.

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
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on Facebook
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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 Metis Solutions
Corporation, our expectations and projections regarding the potential impact
on our financial performance of the acquisitions of Metis Solutions
Corporation and 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
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