LCC International to expand its European operations through acquisition of WFI's EMEA business

March 12, 2007

2 Min Read

MCLEAN, Va. -- LCC International, Inc. (NASDAQ: LCCI) today announced that it has signed a definitive agreement to purchase the equity interests of Wireless Facilities, Inc.’s (NASDAQ: WFII) Europe, Middle East and Africa (EMEA) business for a cash purchase price of $4 million. The agreement is subject to customary closing conditions and the Company anticipates the transaction will close in the first quarter of 2007. LCC expects that exclusive of integration costs the acquisition will be accretive to earnings on a GAAP basis in 2007.

Through this acquisition, LCC expects to:

  • Broaden its presence within France, Sweden and Turkey

  • Expand its customer portfolio with other world-class clients

  • Deepen and expand its UK deployment business with engineering capabilities

  • Establish a broader base to expand its portfolio of products and services

  • Leverage the scale it has built in EMEA to further enhance profitability

"This acquisition presents an extraordinary opportunity to expand our operations throughout Europe and further leverage the scale, intellectual capital and management experience that we currently have in EMEA," stated LCC President and Chief Executive Officer Dean Douglas. "LCC's EMEA operations have shown steady growth across both the mature and emerging markets of EMEA and have delivered consistent bottom-line improvement during the past eight quarters. With the acquisition of WFI’s EMEA business, we can increase the leverage of our existing operations to accelerate profitable growth in this region. We now have the scale and presence combined with the leadership experience necessary to deliver a broader set of services to more customers. We expect to provide our customers a seamless integration as we continue to capitalize on the exciting opportunities we see in EMEA."

Funding for the transaction is being provided by the Bank of America under a $6.5 million revolving credit facility. In 2006, WFI’s EMEA operations generated revenues of approximately $17 million.

LCC International Inc.

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