MCLEAN, Va., April 5, 2011 /PRNewswire/ -- Global Defense Technology & Systems, Inc. (GTEC), a provider of mission-critical, technology-based systems, solutions and services for national security agencies and programs of the U.S. government, announced that the company is moving forward under a new corporate name and brand, Sotera Defense Solutions, Inc. (Sotera).
Sotera, a term derived from Greek mythology, represents the spirit of safety, preservation and deliverance from harm, reflecting the company's focus on providing expert analysis, innovative technology and integrated solutions tailored to national security needs — in cyberspace, on land, at sea and in the air.
"We are very proud to unveil our new name and brand, Sotera, and we remain excited about the opportunities this announcement brings," said John Hillen, President & CEO of Sotera. "With the backing of our new sponsor, Ares Management, we are in a great position to execute our long-term growth strategy to become the trusted mid-sized, mission-focused prime contractor for the national security community. And, while our company name and logo may have changed, our passion for our customers' missions remains the same. We will continue to deliver the same mission-critical, innovative defense technology solutions our national security customers have come to rely on."
"We are energized by today's news and fully support Sotera's management team as it pursues its growth aspirations in near- and long-term," said Matt Cwiertnia, Senior Partner of Ares Management.
GTEC's name and brand change follows the successful completion of the company's acquisition by an affiliate of Ares Management LLC for $24.25 per share in cash in a transaction with a total value of approximately $315 million, including the assumption of debt and transaction expenses.
About Sotera Defense Solutions, Inc.
Sotera Defense Solutions, Inc. (Sotera) is an agile, mid-sized national security technology company that delivers innovative systems, solutions and services in support of the critical missions and programs of the Department of Defense, Intelligence Community, Department of Homeland Security, federal law enforcement agencies and other parts of the federal government charged with ensuring the safety and security of our nation. Sotera is projecting revenues of over $320 million in 2011. Our over 1,200 employees remain focused on delivering essential cyber security systems and operations, intelligence analysis, assured enterprise IT, C4ISR and force mobility and modernization solutions to our customers throughout national security community. Learn more about Sotera at www.soteradefense.com.
About Ares Management LLC
Ares Management LLC is a global alternative asset manager and SEC registered investment adviser with approximately $39 billion of committed capital under management and approximately 360 employees as of December 31, 2010. The firm is headquartered in Los Angeles with professionals also located across the United States, Europe and Asia and has the ability to invest in all levels of a company's capital structure – from senior debt to common equity. The firm's investment activities are managed by dedicated teams in its Private Equity, Private Debt and Capital Markets investment platforms. Ares Management was built upon the fundamental principle that each platform benefits from being part of the greater whole. This multi-asset class synergy provides its professionals with insights into industry trends, access to significant deal flow and the ability to assess relative value.
The Ares Private Equity Group pursues majority or shared-control investments, principally in under-capitalized middle market companies. The group seeks strong business franchises and situations where its capital can serve as a catalyst for growth. Its senior partners average more than 20 years of experience investing in, controlling, advising, and restructuring leveraged companies. For additional information, visit www.aresmgmt.com.
Sotera Investor Relations Contact
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Sotera Media Contact
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Ares Management LLC Media Contact
t: +1 212.397.1030
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SOURCE Sotera Defense Solutions, Inc.