Boeing Completes Acquisition of CDM Technologies

Dec 07, 2010, 17:31 ET from Boeing Defense, Space & Security

ST. LOUIS, Dec. 7, 2010 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA) today announced that it has completed its acquisition of CDM Technologies, a software engineering company that specializes in real-time transportation and logistics planning systems for the U.S. military. The transaction, announced Nov. 16, was effected through Boeing's Tapestry Solutions subsidiary.

CDM Technologies, headquartered in San Luis Obispo, Calif., will be fully integrated into Tapestry Solutions. The terms of the transaction are not being disclosed.

The acquisition supports Boeing's growth strategy for logistics command and control.

Tapestry Solutions of San Diego is a wholly owned subsidiary of Boeing and forms the core of the Logistics Command and Control (LogC2) subdivision of Defense & Government Services, an operating division of Boeing Defense, Space & Security's Global Services & Support business unit.  

A unit of The Boeing Company, Boeing Defense, Space & Security (www.boeing.com/bds/) is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $34 billion business with 68,000 employees worldwide. Follow us on Twitter: @BoeingDefense.

Forward-Looking Information Is Subject to Risk and Uncertainty

Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expects," "plans," "intends," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements regarding the acquisition of CDM Technologies include, but are not limited to, statements regarding future business prospects, our guidance relating to 2010 and 2011 financial and operating performance, product development and benefits and synergies of the transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based upon assumptions about future events that may not prove to be accurate. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as of the date they are made and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, the effect of economic conditions in the United States and globally, our ability to successfully integrate CDM Technologies’ business and realize anticipated synergies, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.

Contact:

David Sidman

Boeing Communications

314-406-1818

david.sidman@boeing.com

Dorothy Land

Tapestry Solutions Communications

858-427-2945

dland@tapestrysolutions.com

SOURCE Boeing Defense, Space & Security



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