Defense Systems, Inc. to sell to Wireless Facilities Inc.
The McLean Group Acted as Advisor and Assisted in the Negotiation for Defense Systems, Inc.
McLean, VA, August 4, 2004 - The McLean Group is pleased to announce the sale of its Manassas, Virginia client, Defense Systems, Inc. ("DSI"), to Wireless Facilities, Inc (NASDAQ: WFII), the leading independent provider for design, deployment and management of wireless networks, headquartered in San Diego, California.
DSI is an established veteran-owned small business that provides a full-range of Information Technology professional services to the government and commercial industries. Services provided range from systems integration and implementation including database design, development, network and systems security to RFID assessments and solutions. Since inception in 1997, DSI has grown at a compound annual growth rate of nearly 50% and currently has a contract backlog that includes key clients within the Department of Defense.
The McLean Group, chosen for its experience and expertise in technology and government contracting mergers and acquisitions, assisted the founders and management of DSI in all aspects of the transaction, including preparation for sale, identifying and contacting prospective acquirers, analyzing valuations, negotiating the terms of the sale, and due diligence and closing support. Co-CEO and Founder Bob Costello said, "The McLean Group's experience and insights aided greatly to our successful road show resulting in multiple offers for our company. Their professionalism while dealing with prospective buyers and their diplomatic mentoring while interacting with us made the experience educational and helped work through tough negotiations."
Key management and the company's professional staff are all expected to become employees of WFI to support its push into the federal and commercial RFID services market.
About The McLean Group LLC
The McLean Group LLC is a private investment bank providing merger and acquisition, business valuation, capital formation, executive advisory and litigation support services. Its focus is on serving middle-market businesses generating between $5 million and $300 million in revenues. While it has a generalist practice, the firm has developed particular expertise and domain knowledge in the IT services, technology, government-contracting, and travel and hospitability sectors.
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