Rockville, MD, October 17, 2006 – NetStar-1, an information technology solutions provider to government and industry, announced today that it completed the purchase of RGII Technologies, Inc., the federal government consulting services subsidiary of Computer Horizons Corp. (Nasdaq: CHRZ). The purchase price was $15.3 million in cash.
The transaction adds a broad array of civilian and defense agency clients, as well as experience in application development, to NetStar-1’s existing expertise in infrastructure design and security services. The combined company will have over 500 employees serving numerous government and commercial clients across the United States. These customers are supported by a nationwide network of locations that includes locations in Raleigh, North Carolina; Denver, Colorado; Knoxville, Tennessee; Atlanta, Georgia; Fort Worth, Texas; Oklahoma City, Oklahoma; Atlantic City, New Jersey; and New York City.
“We’re confident that the combination of RGII and NetStar-1 will greatly enhance our ability to deliver the highest quality IT support to our customers in the Federal Government market,” said Bill Strang, president and chief executive officer of NetStar-1. “With this acquisition, we see a unique opportunity to offer a compelling value proposition to government distinct from both the very small and very large companies that predominately serve the federal IT customer.”
NetStar-1 offers technology solutions which support critical Federal security mandates, along with emerging technologies that include wireless communications and IP telephony. In addition, NetStar-1’s commercial clients include medical, finance, retail and distribution firms. All customers are supported by a full suite of professional services ranging from design to implementation, optimization and support. The combined company’s major federal customers include the U.S. Department of Labor, the Federal Aviation Administration, the U.S. Department of Defense, the U.S. Department of State and the U.S. Department of Commerce.
About RGII Technologies
RGII Technologies, Inc., a wholly owned subsidiary of Computer Horizons Corp. (Nasdaq: CHRZ), is a solutions provider of high-end technology and program management to Federal, state and local government agencies. The company's solutions and services capabilities include enterprise management, network infrastructure, information assurance and security, web development and integration, program management, call management, engineering technology and technical services. In addition, RGII offers a unique proprietary software solution, known as "Monument," which facilitates Federal budget formulation processes. The firm has contracts with over 80 government customers, including the Department of State, the Department of Defense and the Department of Commerce. For more information about RGII Technologies, Inc., please visit our web site at www.rg2.com
About NetStar-1
NetStar-1 is a leading professional services company, specializing in providing IT solutions to government and industry. NetStar-1 provides consulting, design and implementation services in four key areas – Network Infrastructure, Applications Development, Security and Server/Storage technologies. NetStar-1 helps its clients take advantage of existing IT investments, and enables them to meet new levels of reliability, performance and security.
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