TASC, Inc. Completes Transition to an Independent Company — Press Release

by: Matthew Potter
December 19, 2009

Category: Business Line, Companies, Northrop Grumman Corp., Press Releases, SETA | RSS 2.0

TASC, Inc. Completes Transition to an Independent Company

Former Northrop Grumman subsidiary is the first division of the major prime contractors to become independent and non-conflicted Anticipates hiring for nearly 1,000 jobs over the next year

CHANTILLY, Va., Dec. 18 /PRNewswire/ — TASC, Inc. (TASC) a premier provider of advanced systems engineering and advisory services, has completed the transition to an independent company, ensuring full compliance with new government organizational conflict of interest (OCI) policies. Without OCI constraints, TASC will now be able to build upon its strong base and expand into new markets.

An investor group led by General Atlantic, LLC (GA) and affiliates of Kohlberg Kravis Roberts & Co. (KKR) acquired TASC from Northrop Grumman Corporation, in partnership with the management of TASC. TASC is the first company formerly part of a major prime contractor to become independent and non-conflicted. The 43-year-old company’s nearly 5,000 employees serve a range of intelligence, defense and civil agencies, and generate approximately $1.6 billion in revenue.

“Today, we begin a new and exciting chapter in our long history,” said Wood Parker, president and chief executive officer of TASC. “TASC has an exceptional foundation of integrity, service, and commitment to our customers. As an independent company, we are well positioned for continued growth. We will continue supporting our existing customers, expand into new markets, and broaden our portfolio without burdening our customers with OCI constraints and restrictions.”

Founded in 1966, TASC is one of the most recognized independent, non-conflicted providers of advanced systems engineering and advisory services to the defense, intelligence, and federal markets. The company’s portfolio includes advanced concept and technology development; systems/enterprise engineering and integration; program and acquisition management; mission planning, engineering and operations; system/policy studies, analysis and evaluation; and security and program protection engineering.

“TASC’s new ownership structure positions us to continue to invest in research and development and to attract the best and the brightest employees,” said Parker. “Already we are increasing our recruiting and hiring efforts to meet our new business requirements. We are hiring to support our customers on current funded projects and plan to hire nearly 1,000 positions over the course of the next year.”

TASC will be hiring for a variety of positions in the Washington, D.C. area and across the country. Information about the company’s current job openings is available at www.tasc.com.

About TASC

TASC is a premier provider of advanced systems engineering and advisory services across the Intelligence community, Department of Defense and civilian agencies of the federal government. For more than 40 years, we have partnered with our customers toward one goal–the success of their missions. TASC’s broad portfolio of services includes cyber security; advanced concept and technology development; enterprise engineering and integration; program, financial and acquisition management; system/policy studies and analysis; test and evaluation; and program protection engineering. For more information, visit our website at www.tasc.com.

About General Atlantic LLC

GENERAL ATLANTIC is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with exceptional management teams and build enduring businesses worldwide. Established in 1980, GA manages approximately $14 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, Dusseldorf, Hong Kong, Beijing, Mumbai and Sao Paulo. For further information and a listing of GA’s public and private portfolio companies see www.generalatlantic.com.

About KKR

Founded in 1976 by Henry Kravis and George Roberts, KKR is a leading global alternative asset manager with $54.8 billion in assets under management, over 600 people and 14 offices around the world as of September 30, 2009. KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with investors through its client relationships and capital markets platforms. KKR is publicly traded through KKR & Co. (Guernsey) L.P. (Euronext Amsterdam: KKR). For additional information, please visit KKR’s website at www.kkr.com.

CONTACT
DeeAnn Connors
(703) 653-5752
DeeAnn.Connors@TASC.com

Source: TASC, Inc.

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