VSE Corporation to Acquire Akimeka (VSEC)

VSE Corporation

announced today that it has acquired Akimeka LLC, headquartered in Hawaii with offices in Virginia, Florida and Texas. The purchase price was approximately $33 million in cash, with the potential for additional payment of up to $11 million if certain financial targets are met during the next three years, subject to certain adjustments. For the year ended December 31, 2009, Akimeka recorded revenues of approximately $38 million and pretax income of approximately $6.5 million.