CHANTILLY, Va., July 1, 2004 (PRIMEZONE) -- American Systems Corporation (ASC) today announced that it has completed the acquisition of True North Solutions, an information security solutions company based in Herndon, Virginia.
True North will continue to operate from its current location. The terms of the acquisition were not disclosed. According to ASC President and CEO, Elliot Needleman, "We see security as an important growth area for our company. We recently opened our Security Center of Excellence here in Chantilly with an initial focus on physical security and various biometric technologies. Now we are adding the final piece of the puzzle with a Best in Breed information security offering brought by True North."
Speaking about the leaders of True North, Needleman said, "We were very impressed with the entrepreneurial spirit of the management team and their aggressive growth strategies. They are an ideal addition to our company."
Serving both government and commercial markets, True North boasts an impressive list of customers that includes the Department of Defense, U.S. State Department, Upjohn Pharmacia, Verizon, General Dynamics, Coca-Cola Enterprises, and Time Warner. The company provides foundational and emerging security technologies as well as professional services that include vulnerability assessment and testing, implementation of security applications, security infrastructure integration, and security policy review and development.
True North's CEO, Bobby Christian, expressed his excitement about the acquisition, saying, "We are very pleased to join ASC. This acquisition will enable us to continue to grow, expand our customer base significantly, and provide our employees with the benefits of employee ownership." Michael Volk, President of True North, added, "The infrastructure that ASC provides strengthens our business plan and allows us to accelerate our growth. We see many synergies between the two companies, including our mutual commitment to customer service." Christian and Volk will continue in their current roles as CEO and President, respectively.
ASC has enjoyed tremendous growth over the past ten years and is now one of the largest Employee Stock Ownership Plan (ESOP) companies in the country. The company has successfully completed three major acquisitions in the past four years.
About American Systems Corporation (ASC)
ASC is a privately held, employee-owned company headquartered in northern Virginia. The company, which employs approximately 1,400 employees in 22 offices nationwide, provides a full range of information technology, consulting, and training services.
ASC business lines include systems engineering and professional technical services, training services and simulation products, software development, systems and network integration, national rollouts of network and point-of-sale systems, security solutions, and related information technology services to clients in government, defense, telecommunications, commercial, and retail markets.
For more information, please visit www.2asc.com