INDUS Completes Acquisition of AB Floyd Enterprises, Inc.

Thursday June 30, 11:53 am ET
Expands Business Base into U.S. Defense and Intelligence

VIENNA, Va., June 30 /PRNewswire/ -- INDUS Corporation (INDUS), a leading federal IT solutions provider, today announced that it has completed its purchase of Aaron B. Floyd Enterprises, Inc. (AB Floyd). AB Floyd, founded in 1986 and headquartered in Alexandria, VA, is a privately owned information technology consulting firm that offers a broad range of information technology solutions for the Department of Defense and national intelligence clients. AB Floyd recorded revenues of $14 million for its fiscal year 2004.

INDUS President and CEO, Shiv Krishnan, commented that, “this acquisition is a major step up in INDUS' ability to serve its Federal customers. It fits our strategy of becoming a full-service IT solutions provider for all Federal customers, including the national defense and intelligence sectors. The AB Floyd team is very customer focused and I am confident that together we will offer great service and best value. We are proud to welcome their skilled and committed professionals to the INDUS family.”

This acquisition follows a successful year that saw INDUS' revenues increase by 23 percent. INDUS retains its place among Virginia's fastest growing technology companies, with projected revenues of $90 million for fiscal year 2005.

About INDUS
INDUS Corporation, an IT solutions provider, delivers unparalleled customer satisfaction by applying its full resources and capabilities to specialized mission critical initiatives in Federal agencies including NASA, EPA, the Departments of Transportation, Commerce, Health and Human Services, Education, Homeland Security, Defense, and the Intelligence community. Since 1993, INDUS has focused on software engineering and enterprise infrastructure support to build IT solutions in database management, data warehousing, and data mining; dynamic Web development; geographic information systems (GIS); convergent telecommunications solutions; and network and data security. One of the fastest growing high tech companies in America, INDUS has received numerous corporate performance and customer service awards, and has been selected as a Virginia Fantastic 50 company for eight consecutive years. INDUS is supporting Federal customers in over 50 locations throughout the United States. For more information visit: http://www.induscorp.com.

About AB Floyd
Aaron B. Floyd Enterprises, Inc. (AB Floyd) has provided information technology support services and solutions to the Federal Government, primarily for the Department of Defense, in “cleared” areas since its founding in 1986. With over 15 years of application and database development support for Defense and military readiness, AB Floyd's expertise includes software development, database design, system administration and maintenance, systems integration, software and network engineering, web-enabled solutions, and information systems security.