Boeing to Acquire Solutions Made Simple Inc.
ARLINGTON, Va., July 21, 2011 -- Boeing [NYSE: BA] today announced an agreement to acquire Solutions Made Simple Inc. (SMSi), an information services provider for the U.S. government and the Intelligence Community. Known for its Twister data integration framework products, SMSi's technology allows users to easily extract, share and query information stored in an unlimited number of data sources and applications.
SMSi employs approximately 65 people and is based in Reston, Va.
Once acquired, SMSi will operate within the Information Solutions division of Boeing's Network & Space Systems business.
"Our customers continuously look for better, more cost-effective ways to manage data across disparate networks, and SMSi has terrific capability to do that," said John Hinshaw, Boeing vice president and general manager of Information Solutions. "We've worked with SMSi for a number of years and see their team and products as strong complements to our existing capabilities. SMSi adds important vertical content to Boeing's product portfolio for two high-growth markets that are key priorities for our customers: C4ISR and cybersecurity."
SMSi is privately held and the terms of the transaction were not disclosed. The transaction is expected to be completed during the third quarter of 2011.
A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $32 billion business with 65,000 employees worldwide. Follow us on Twitter: @BoeingDefense.
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Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timetable for completing the transaction, future business prospects, and benefits and synergies of the transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, the ability of the parties to consummate the transaction, our ability to successfully integrate SMSi's business and realize anticipated synergies, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.