CACI to buy Athena Innovative for undisclosed sum

[mahatmakanejeeves]

CACI to buy Athena Innovative for undisclosed sum

Mon Sep 24, 2007 8:20am EDT

NEW YORK, Sept 24 (Reuters) - CACI International Inc (CAI.N), which sells intelligence and technology services to the U.S. military, said on Monday that it agreed to buy Athena Innovative Solutions Inc from Veritas Capital for an undisclosed sum.

So who cares? Well, let's look at this a little more closely.

CACI to Expand High-Security Force

CACI to Expand High-Security Force
Purchase of Athena Innovative Adds Many Top-Secret Workers

By Zachary A. Goldfarb
Washington Post Staff Writer
Tuesday, September 25, 2007; Page D05

CACI International, an Arlington government contractor, said yesterday it was buying Athena Innovative Solutions, an intelligence-analysis firm with a coveted supply of employees with security clearances but also a controversial past.

The acquisition, valued at $200 million, would give CACI, a developer of technology systems for the Defense Department, intelligence agencies and civilian agencies, a company in which 95 percent of the 600 employees hold top-secret security clearances.

The deal also represents a new phase for Athena, which was known as MZM and ran into trouble after it was linked to the bribery scandal of Randy "Duke" Cunningham, a former Republican congressman from California who is serving eight years and four months in prison.

MZM's founder, Mitchell J. Wade, stepped down in June 2005 after reports suggested he did financial favors for Cunningham while the lawmaker pushed funding for military intelligence programs on which MZM worked. MZM was bought for an undisclosed sum in August 2005 by Veritas Capital, a New York private-equity firm that invests in contractors and defense companies. The company was renamed Athena. Wade pleaded guilty in February 2006 to four criminal counts in connection with the scandal.

Ohhhhhhh, Athena is the old MZM, of "Duke" Cunningham fame.

[soothsayer]

1. Aren't CACI and SAIC just CIA front companies anyway?

[pfitz59]

2. Most secret info is crap!

Designated so to hide crimes, or embarassing events! Very little info needs to be classified, mostly technical "how to" stuff! The Bushbots have been working overtime these past 6 years "reclassifying" info IOT keep the public ill-informed and pliable! CACI is CACA!