VIENNA, Va., Sept. 2 /PRNewswire/ -- GRC International (NYSE: GRH) today
announced that it successfully completed the acquisition of all of the common
stock of Management Consulting & Research Inc. (MCR) Inc. and its
subsidiaries, under terms disclosed in a news release issued Aug. 6, 1999.
Beginning Sept. 2, 1999, MCR will operate as a wholly-owned subsidiary of GRCI
under its existing name with its operating results incorporated into GRCI's
results.
MCR, with annual revenues of approximately $30 million and 270 employees,
adds a variety of advanced cost analysis, financial management and program
management services to GRC International's technical services offerings and
provides access to a broader client base within the federal government,
particularly the U.S. Air Force.
GRC International President and CEO Gary Denman said, "We are pleased with
the quality of our first acquisition under our strategic growth plan and look
forward to working closely with the all of the employees of MCR. They
strengthen and broaden our services offerings, particularly in the highly
sought after area of cost analysis. This will allow us to provide our
customers with a more robust service offering and will provide our
shareholders with greater value."
GRC International Inc., headquartered in Vienna, Va., is a leading
provider of professional services focusing on information technology,
management consulting, and engineering services for a national clientele in
the government and commercial sectors. GRCI is a publicly traded company
listed on the New York Stock Exchange under the symbol GRH. Additional details
about GRC International can be obtained on the Internet at
http://www.grci.com/. Details concerning MCR can be viewed at
http://www.mcri.com.
GRCI press releases are available on the Internet through Company News On-
Call at http://www.prnewswire.com/.
SOURCE GRC International
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Related links:
http://www.grci.com
Company News On-Call:
http://www.prnewswire.com/comp/320275.html or fax,
800-758-5804, ext. 320275
CONTACT:
James Allen, CFO, 703-506-5574, or Wayne
Jackson, Director of Corporate Communications, 703-506-5038, both
of GRC International
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