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Subsequent Events
12 Months Ended
Jun. 30, 2011
Subsequent Events  
Subsequent Events

NOTE 26. SUBSEQUENT EVENTS

 

On July 1, 2011, the Company completed its transaction to acquire Pangia Technologies, LLC, for $41.0 million. Pangia is a software engineering company that provides technical solutions in the areas of computer network operations, information assurance, mission systems, software and systems engineering, and IT infrastructure support. This acquisition furthers CACI's growth in cybersecurity solutions and increases its presence in the Intelligence Community.

 

On July 25, 2011, the Company announced that it had signed a definitive agreement to acquire Paradigm Holdings, Inc., the parent of Paradigm Solutions Corporation. Paradigm provides cybersecurity and enterprise IT solutions to clients in federal civilian agencies, the Department of Defense, and the Intelligence Community. This acquisition expands CACI's cybersecurity capabilities and its presence in supporting national security missions. The Company anticipates that it will complete the acquisition during the first half of its fiscal year ending June 30, 2012.

 

In August 2011, the Company's Board of Directors rescinded its May 2011 authorization to repurchase up to $175.0 million in value of shares of the Company's common stock, and adopted a resolution authorizing the repurchase of up to 4.0 million shares of the Company's common stock. On August 29, 2011, the Company announced its agreement with Bank of America, N.A. to repurchase 4.0 million shares of its common stock under an accelerated share repurchase program.