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These excerpts taken from the NCIT 10-K filed Feb 27, 2009. Karta Technologies, Inc. On June 27, 2007, the Company completed the acquisition of Karta Technologies, Inc. (Karta). Karta generated revenue for calendar year 2006 of approximately $51 million (unaudited). At the time of the acquisition, Karta had approximately 400 employees located throughout the United States. NCI paid approximately $67.8 million for Karta. The purchase price includes $65.0 million for Karta, $0.2 million for a non-compete agreement, $1.3 million as a working capital adjustment, and $1.3 million in transactions costs. Karta Technologies, Inc. On June 27, 2007, the Company completed the acquisition of Karta Technologies, Inc. (Karta). Karta generated revenue for calendar year 2006 of approximately $51 million (unaudited). At the time of the acquisition, Karta had approximately 400 employees located throughout the United States. NCI paid approximately $67.8 million for Karta. The purchase price includes $65.0 million for Karta, $0.2 million for a non-compete agreement, $1.3 million as a working capital adjustment, and $1.3 million in transactions costs. These excerpts taken from the NCIT 10-K filed Mar 7, 2008. Karta Technologies, Inc. On June 27, 2007, the Company completed the acquisition of Karta Technologies, Inc. (Karta). Karta generated revenue for calendar year 2006 of approximately $51 million (unaudited). Karta has approximately 400 employees located throughout the United States. NCI paid approximately $67.8 million for Karta. The purchase price includes $65.0 million for Karta, $0.2 million for a non-compete agreement, $1.3 million as a working capital adjustment, and $1.3 million in transactions costs. The acquisition of Karta meets many of NCI’s strategic acquisition objectives, including: opening new and important DoD market areas; expanding NCI’s service offerings to include engineering and logistics, medical transformation/health IT, and distance learning and training as well as expanding NCI’s DoD and civilian agency customer base; providing additional valuable GWAC/MAC/IDIQ contract vehicles to NCI’s existing portfolio of contracts; and adding management, professional and business development staff to NCI’s team. The Karta assets and liabilities were recorded at fair value under the purchase method of accounting. As the cost of the acquisition exceeded the fair value of the assets acquired, goodwill was recorded in the amount of $52.9 million. Recognition of goodwill is largely attributed to the highly skilled employees of Karta and the value paid for companies in this industry. The identifiable intangible assets include a non-compete agreement, acquired backlog and customer relationships, and acquired software. The fair values on the identifiable intangible assets were determined by reviewing historical financial statements, financial projections, and estimated useful lives. The following table represents the final purchase price allocation of Karta’s assets and liabilities at fair value:
Karta Technologies, Inc. million (unaudited). Karta has approximately 400 employees located throughout the United States. NCI paid approximately $67.8 million for Karta. The purchase price includes $65.0 million for Karta, $0.2 million for a non-compete agreement, $1.3 million as a working capital adjustment, and $1.3 million in transactions costs. The acquisition of Karta meets many of NCI’s strategic acquisition objectives, including: opening new and important DoD market areas; expanding NCI’s service offerings to include engineering and logistics, medical transformation/health IT, and distance learning and training as well as expanding NCI’s DoD and civilian agency customer base; providing additional valuable GWAC/MAC/IDIQ contract vehicles to NCI’s existing portfolio of contracts; and adding management, professional and business development staff to NCI’s team. The Karta assets and SIZE="2">The following table represents the final purchase price allocation of Karta’s assets and liabilities at fair value:
This excerpt taken from the NCIT 10-Q filed Nov 2, 2007. Karta Technologies, Inc. On June 27, 2007, the Company completed the acquisition of Karta Technologies, Inc. (Karta). Karta generated revenues for calendar year 2006 of approximately $51 million (unaudited). NCI paid approximately $67.4 million for Karta. The purchase price includes $64.8 million for Karta, $0.2 million for a non-compete agreement, $1.2 million as a working capital adjustment and $1.2 million in transactions costs. The acquisition of Karta meets many of NCI’s strategic acquisition objectives, including: opening new and important DoD market areas; expanding NCI’s service offerings to include healthcare IT, DoD medical transformation, high-end training solutions and distance learning, and modernization, readiness and sustainment engineering solutions; expanding NCI’s DoD and civilian agency customer base; providing additional valuable GWAC/MAC/IDIQ contract vehicles to NCI’s existing portfolio of contracts; and adding management, professional and business development staff to NCI’s team. On June 27, 2007, Karta had net assets including identifiable intangibles with a fair value of $14.8 million. The Karta assets and liabilities were recorded at fair value under the purchase method of accounting. As the cost of the acquisition exceeded the fair value of the assets acquired, goodwill was recorded in the amount of $52.6 million. The fair value of Karta’s identifiable intangible assets as of June 27, 2007 was determined by an independent third party. The following table represents the final purchase price allocation of Karta’s assets and liabilities at fair value:
This excerpt taken from the NCIT 8-K filed Sep 10, 2007. Karta Technologies, Inc. Comparative Statements of Income Years Ended December 31, 2006 and 2005
See independent auditors’ report on supplementary data.
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