Kratos Defense & Security Solutions Acquires Southside
Acquisition of
Enforcement, and Data Center Product and Solution Provider
Transaction Expected to be Immediately Accretive
Founded in 2002 and headquartered in
"The acquisition of Southside has been an objective of our company's strategic road map for a long time, and the combination of our business and Southside is very exciting for our entire organization," said
Southside will operate as part of Kratos' Gichner business unit, within Kratos' Weapons Systems Solutions Division. Gichner specializes in the design, engineering, manufacture and production of specialized products and solutions for critical National Security missions. Gichner products, shelters and solutions support the war fighter. Gichner's end customers include the
"We are extremely excited to be joining forces with Kratos," said
Completion of the transaction is effective immediately and is expected to be immediately accretive to Kratos. The base purchase price paid at the closing of the transaction was
About
The
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to a variety of matters, including but not limited to: the benefits and synergies expected to result from the acquisition; the Company's expectations regarding the amount of revenue and EBITDA that will ultimately be recognized as a result of the acquisition; and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.
Factors that could cause actual results to differ materially from the forward-looking statements contained herein include, but are not limited to: any operational or cultural difficulties associated with the integration of the businesses of Kratos and Southside; potential adverse reactions or changes to business relationships resulting from the acquisition; unexpected costs, charges or expenses resulting from the acquisition; litigation or adverse judgments relating to the acquisition; the failure to realize synergies and cost savings from the transaction or delay in realization thereof; and any changes in general economic and/or industry-specific conditions. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk
disclosures in the Annual Report on Form 10-K of Kratos for the year ended
CONTACT:Source:Kratos Defense & Security Solutions, Inc. Press Contact:Yolanda White 858-812-7302 Investor Information: 877-934-4687 investor@kratosdefense.com
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