Stanley (SXE) Completes Acquisition of Oberon Associates; Company to Update Financial Guidance July 31

July 15, 2008 4:16 PM EDT

Stanley, Inc. (NYSE: SXE) has completed its acquisition of Oberon Associates, Inc., an engineering, intelligence operations and information technology services company. As previously announced, Stanley entered into a definitive agreement to acquire Oberon on June 10, 2008. The purchase price at closing was approximately $170 million, net of cash acquired, subject to certain post-closing working capital and other adjustments.

The acquisition of Oberon adds more than 600 employees, including 10 regional offices in the United States and seven countries abroad.

Stanley also announced that it has exercised and closed on an additional $69 million of available credit through a partial exercise of the accordion feature associated with the company's Senior Revolving Credit and Term Loan Facility. The additional credit capacity was provided by three existing lenders and three new lenders.

Stanley will update its previously announced financial guidance to reflect the Oberon acquisition in its fiscal first quarter 2009 earnings call scheduled for July 31, 2008, at 5:00 pm Eastern.[SM]

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