Integral Systems

Integral Systems, Inc.
Subsidiary[1]
Traded as NASDAQ: ISYS (formerly)
Industry Satellite ground systems
Space communications
Military communications
Founded Lanham, Maryland, USA (1982)
Headquarters Columbia, Maryland, United States
Key people
 Paul Casner, Interim CEO
William Bambarger, CFO
Peter Gaffney, EVP
Products ABE
Archive Manager
ARES
EPOCH Client
EPOCH Database
EPOCH Triggers & EPOCH Web Server
Revenue Increase US$160.17 Million (2008)[2]
Increase US$25.10 Million (2008)[2]
Increase US$18.17 Million (2008)[2]
Total assets US$147.20 Million (2008)[2]
Total equity US$110.04 Million (2008)[2]
Owner Kratos Defense & Security Solutions (2011 - present)
Number of employees
 769 (December 2008)[2]
Website http://www.integ.com/

Integral Systems, Inc. was a manufacturer of satellite ground systems founded in 1982, and based in Columbia, Maryland in the United States. The company had supported over 205 satellite missions for communications, science, meteorological and earth resource applications. Integral's customers included government and commercial satellite operators, spacecraft and payload manufacturers and aerospace systems integrators. The company offered a commercial off-the-shelf (COTS) software product line for command and control, and employed approximately 769 people in the United States and Europe. On July 27, 2011, California Kratos Defense and Security Solutions completed the acquisition of Integral System, with each outstanding share of Integral Systems common stock cancelled and converted into the right to receive (i) $5.00, in cash, without interest, and (ii) 0.588 shares of the Kratos Defense and Security Solutions common stock.[3]

Company structure

Integral Systems operated through four business segments: Ground Systems – Government; Ground Systems – Commercial; Space Communications Systems, and Corporate. [4] The company was involved in contracts with governmental and commercial satellite operators,[5] which included the US Air Force,[6] and Northrop Grumman.[7]

Integral owned five subsidiaries that provide a services and products to the satellite industry. SAT Corporation, a subsidiary of Integral, that provided satellite and terrestrial communications signal monitoring systems to satellite operators.[8] The Newpoint Technologies Inc. subsidiary supplied equipment monitoring and control software to satellite operators and telecommunications firms.[9] Integral Systems’ RT Logic subsidiary built telemetry processing systems for military applications such as tracking stations, control centers, and range operations.[10] Integrals’ Lumistar, Inc., subsidiary primarily designs and manufactures board-level telemetry products for PCI, VME, cPCI, and ISA computer buses.[11] Subsidiary CVG-Avtec built and integrated satellite communication terminals and related equipment, including ground station hardware.

Integral Systems failed to disclose to its shareholders for over seven years that Gary A. Prince (“Prince”), who had previously been convicted of conspiracy to commit securities and bank fraud and enjoined from committing securities fraud in a civil action brought by the Commission, was an executive officer of the Company. Integral Systems failed to disclose Prince’s role at the company and his securities fraud background in its periodic reports and proxy statements filed from 1999 through August 8, 2006 [12]

In 2006, Integral's then-CEO and chairman, Steven R. Chamberlain, was convicted of felony sex offenses involving a minor and resigned. Chamberlain died in December 2009, according to U.S. District Court records[13]

On July 27, 2011, Integral Systems merged with Kratos Defense & Security Solutions.[14] At the time of the acquisition, the 600 to 700 Integral Systems employees were expected to join the 4,000 employees of Kratos Defense and Security Solutions.[13]

Subsidiaries

See also

References

  1. ↑ Censer, Marjorie (May 22, 2011). "After going up for sale, Integral Systems acquired by Kratos". The Washington Post.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 "ISYS: Integral Systems, Inc.". Google Finance. Retrieved 2009-03-29.
  3. ↑ "US Security and Exchange Commission, Form S-4 Registration Statement under Securities Act of 1933, as filed with the SEC on October 24, 2011". U.S. SEC. Retrieved 2013-12-02.
  4. ↑ "About Integral". Integral Systems. Retrieved 2008-01-18.
  5. ↑ "Integral System Inc ISYS.O (NASDAQ)". Reuters. Retrieved 2008-01-18.
  6. ↑ "Integral Systems Inc. Awarded Contract Options to Begin Development of the Next Phase of the RAIDRS Program". Space Newsfeed. 2007-12-10. Archived from the original on 2007-12-24. Retrieved 2008-01-18.
  7. ↑ "Integral Systems Gets $20.6 Million Contract For GPS Systems". CNN Money. 2008-01-17. Retrieved 2008-01-18.
  8. ↑ "About SAT Corp". Integral Systems. Retrieved 2008-01-18.
  9. ↑ "About Newpoint Tech". Integral Systems. Retrieved 2008-01-18.
  10. ↑ "About RT Logic". Integral Systems. Retrieved 2008-01-18.
  11. ↑ "About Lumistar". Integral Systems. Retrieved 2008-01-18.
  12. ↑ "Cease and Desist Order, Administrative Proceeding File No. 3-13566, dated July 30, 2009". US SEC. Retrieved 2013-12-02.
  13. ↑ 13.0 13.1 "Columbia's Integral agrees to $266M sale". US SEC. Retrieved 2013-12-02.
  14. ↑ "SEC 8K".
  15. ↑ 15.0 15.1 15.2 15.3 15.4 "Form 10-Q, Security and Exchange Commission, INTEGRAL SYSTEMS, INC. AND SUBSIDIARIES, NOTES TO CONSOLIDATED FINANCIAL STATEMENTS". US SEC. Retrieved 2013-12-03.