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ICRC is Acquired by VSE Corporation
ALEXANDRIA, VA – June 04, 2007 –
Integrated Concepts & Research Corporation (ICRC), a diversified technical and management
services company, announced today that it has been acquired by VSE Corporation (Nasdaq
GM: VSEC). ICRC will operate as a wholly owned subsidiary of VSE and will retain its own
corporate structure.
As part of this strategic move, ICRC is making two senior management changes. Jim Lexo,
previously ICRC’s president and CEO, will vacate the position of president and will continue to
serve as the company’s CEO. Carl Williams, previously ICRC’s COO, has been named ICRC’s
new president and COO.
“We are excited about the opportunity to continue our growth with VSE,” said ICRC CEO Jim
Lexo. “We share common goals with VSE, and in some instances, we support different
programs for the same or similar customers. We see this acquisition as very positive for ICRC,
our employees, and our customers.”
Both ICRC and VSE have strong track records in serving the Federal government market.
ICRC’s areas of expertise include information technology, advanced vehicle technology,
engineering, materials and components testing, and infrastructure development. The
company’s current projects include providing enterprise IT services to the U.S. Army Corps of
Engineers; managing advanced vehicle research and development projects for the U.S. Army;
conducting aerospace testing for NASA; and overseeing the intermodal expansion of the Port
of Anchorage.
VSE, which was recently ranked number 35 on Business Week’s list of Hot Growth
Companies, has provided more than $2 billion in engineering and technical support services to
the Federal government. The company provides its customers with services and technologies
in the areas of engineering, energy, environment, information technology, law enforcement,
and national defense. Its core competencies include legacy systems sustainment,
obsolescence management, prototyping, reverse engineering, technology insertion, supply
chain management, foreign military sales, management consulting, and process improvement.
For more information about VSE, please see VSE’s Web site at www.vsecorp.com or contact
Len Goldstein, director of business and new product development, at (703) 317-5202.
Carl Williams, president and COO of ICRC, said, “This acquisition will propel ICRC to the next
level as a serious contender in the competitive Federal government market. With the support
of VSE, we will broaden our service offerings, particularly in the areas of engineering,
information technology, and defense services. ICRC will benefit greatly from VSE’s
considerable experience in the Federal marketplace.”
About ICRC
ICRC is a diversified technical and management services company that serves the government market. The company's core expertise lies in information technology, advanced vehicle technology, aerospace, engineering and transportation infrastructure. ICRC combines this industry expertise with a strong track record in project management, research, testing, analysis, purchasing and implementation. The company's corporate office is located in Alexandria, VA, and it also maintains offices in Chantilly, VA, Detroit, MI, Huntsville, AL, Vicksburg, MS, and Anchorage, AK.
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