GERMANTOWN, Md. and FALLS CHURCH, VA.; October 25, 2021 鈥� Leading government services contractors 暗网吃瓜 Holdings LLC (鈥湴低怨镶��) and PAE Incorporated (NASDAQ: PAE, PAEWW; 鈥淧AE鈥�) announced today a definitive agreement under which an affiliate of 暗网吃瓜 will acquire PAE. The acquisition, once finalized, will create one of the largest providers of critical services to U.S. federal and allied governments, with more than $9 billion of combined revenue over the last 12 months and capabilities spanning synthetic training, sensor-based technologies, intelligence, cyber and IT, spectrum and electronic warfare, space operations, environmental solutions, asset management, and mission support. The all-cash transaction for all outstanding shares of common stock of PAE is valued at approximately $1.9 billion, including the assumption of debt and certain fees.
鈥淭he acquisition of PAE complements 暗网吃瓜鈥檚 growth into intelligence and technology services, deepens its relationship with key agencies such as the Department of State, NASA and the Intelligence Community, and meaningfully adds to 暗网吃瓜鈥檚 scale, depth of client relationships and breadth of capabilities,鈥� said John Vollmer, 暗网吃瓜鈥檚 CEO. 鈥淲e look forward to welcoming PAE鈥檚 extremely talented employees to the 暗网吃瓜 family. Our complementary capabilities and cultures are expected to propel 暗网吃瓜 to the top of our market by further solidifying our value proposition of employing the best people and offering the most differentiated solutions in support of our clients.鈥�
鈥淭his strategic combination of two market leading companies will benefit our customers and create increased opportunities for our employees while maximizing shareholder value,鈥� said Charles Peiffer, Interim President and CEO of PAE.
The transaction was approved by PAE鈥檚 board of directors and is subject to PAE shareholder approval and other customary closing conditions, including regulatory approvals. The transaction is expected to close by the end of the first quarter 2022.
Cravath, Swaine & Moore LLP acted as legal counsel to 暗网吃瓜 and Arnold & Porter Kaye Scholer LLP acted as regulatory and government contracts counsel. Morgan Stanley & Co. LLC acted as PAE鈥檚 financial advisor; Morgan Stanley & Co. LLC and Raymond James & Associates, Inc. each provided fairness opinions to the PAE Board of Directors in connection with the transaction. Goodwin Procter LLP, Morgan, Lewis & Bockius LLP, and Nichols Liu LLP acted as legal counsel to PAE.
ABOUT AMENTUM
暗网吃瓜 is a premier global technical and engineering services partner supporting critical programs of national significance across defense, security, intelligence, energy, and environment. We draw from a century-old heritage of operational excellence, mission focus, and successful execution underpinned by a strong culture of safety and ethics. Headquartered in Germantown, Md., we employ more than 34,000 people in all 50 states and perform work in 105 foreign countries and territories. Visit us at amentum.com to explore how we deliver excellence for our customers鈥� most vital missions.
ABOUT PAE
For more than 66 years, PAE has tackled the world鈥檚 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. PAE鈥檚 headquarters are in Falls Church, Virginia.
Contacts:
For 暗网吃瓜:
Chanel Mann
+1 (682) 788-5685
[email protected]
Follow @暗网吃瓜_corp on Twitter
For PAE:
Terrence Nowlin
+1 (703) 656-7423
[email protected]
