Wyle Inc. Closes Deal to Acquire CAS, Inc.

  //stocks-investing.news-articles.net/content/201 .. /08/wyle-inc-closes-deal-to-acquire-cas-inc.html
  Published in Stocks and Investing on Wednesday, September 8th 2010 at 11:41 GMT by Market Wire

Wyle Inc. Closes Deal to Acquire CAS, Inc. -- El SEGUNDO, Calif., Sept. 8 /PRNewswire/ --

Strategic Acquisition Expands Wyle's Presence in the U.S. Army and Huntsville, Alabama

El SEGUNDO, Calif., Sept. 8 /PRNewswire/ -- Wyle Inc., a leading provider of  high tech systems engineering, testing and information technology services, today announced completion of the acquisition of CAS, Inc., a division of ITT Corporation (NYSE: ITT). CAS is a premier Huntsville-based provider of systems engineering and technical assistance services to the U.S. Department of Defense.

"This acquisition is at the center of our strategy of providing trusted services and solutions, free of organizational conflict of interest, to the United States Government," said George Melton, Wyle chairman, CEO and president.

"CAS will significantly enhance and diversify our core business with critical customers and markets such as the US Army and Huntsville. We trust CAS will excel as part of a dedicated government services company. "

CAS, Inc., founded in 1979, employs more than 1,100 employees at 26 locations across the nation and worldwide.  The organization, now named Wyle's CAS Group, joins Wyle's Aerospace Group, Integrated Science and Engineering Group, and Information Systems Group. The combined entity expects 2010 pro-forma revenues in excess of $1 billion.

Wyle, a privately held company, is a leading provider of high-tech science, aerospace engineering and information technology services to the federal government on long-term outsourcing contracts. The company also provides test and evaluation of aircraft, weapon systems, networks, and other government assets; and other engineering services to the aerospace, defense, and selected commercial industries.

SOURCE Wyle