Monday, DynCorp International Inc. (DCP), a provider of mission-critical services to civilian and military government agencies said its wholly-owned subsidiary DynCorp International LLC has signed an agreement to acquire 100% of the stock of Phoenix Consulting Group, Inc. The acquisition is expected to close during October 2009.
Though the terms of deal were not revealed, DynCorp said it would fund the acquisition with cash on hand.
The Falls Church, Virginia-based company said the acquisition is expected to expand its services to the intelligence community and national security clients. Phoenix is a private company which imparts proprietary training courses, materials and management consulting, and augmentation services to the intelligence community.
Following the acquisition, Alexandria, Virginia-based Phoenix will operate as a wholly-owned subsidiary and be consolidated as a business unit within the global stabilization and development solutions division.
William Ballhaus, President and CEO, DynCorp International said, "This acquisition is consistent with our goal of accelerating growth, expanding service offerings and penetrating new segments."
Phoenix has offices in Virginia and Arizona and employs around 400 full-time and part-time professionals with most employees possessing security clearances, many at the top secret level.
DCP is currently trading at $18.15, up $0.65 or 3.71%, on a volume of 0.10 million shares on the NYSE.
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