Technology industry

Information Analytics Appoints Technology Industry Leader

FAIRFAX, Va., Aug. 26, 2021 (GLOBE NEWSWIRE) — Information Analysis Incorporated (OTCQB: IAIC) (“IAI”) today announced the appointment of Jamie Benoit as Chairman and Chief Executive Officer effective August 26, 2021. Mr. Benoit brings an impressive track record of delivering impressive shareholder returns to IAI. Under his leadership and through growth through acquisitions and organically, Benoit will aggressively strive to reposition the company as a disruptive technology and business enablement leader in government and global private sector verticals. Benoit joins IAI as CEO with extensive experience in private equity and corporate finance as well as distinguished service in the military, civilian government and elected offices. Mr. Benoit will work alongside former CEO Stan Reese, who will remain president and continue to manage operations at IAI.

Prior to joining IAI, Mr. Benoit devoted much of his career to United States Defense and Intelligence Operations. For more than a decade, he served as Managing Director of FedData, a technology products and services company focused on mission support in the Intelligence Community and the DoD. FedData continues to provide innovative hardware, data transport, software engineering and computer network operations solutions through several major contracts with various organizations.

Mr. Benoit led FedData through the acquisition of three different companies and through a 2018 sale that achieved an IRR of over 80% for early private equity partners and FedData employee shareholders . He then achieved nearly 50% EBITDA growth in 18 months for his new private equity partners before leaving the company in 2019. During his tenure, he led the company through a complicated integration and retained more than 90% of the workforce of the acquired company.

Mr. Benoit has a unique blend of corporate, legal, military and government experience. Prior to his tenure at FedData, he served as an officer in the US military in the 1990s, then served as an appellate clerk and practiced law at several national law firms. He has expertise in company formation, mergers and acquisitions, banking and finance, and regularly applies these skills to leading and enabling government and commercial organizations. Mr. Benoit was also twice elected to the Council of Anne Arundel County, Maryland and served from 2006 to 2014.

Mr. Benoit is a graduate of Georgetown University Law Center, the University of Baltimore and St. Mary’s College of Maryland.

Board and Management Commentary
Mark T. Krial, Outgoing Chairman, said, “Over the past year, our Board of Directors and leadership team have worked to position IAI to take advantage of rapidly changing cybersecurity markets and modernization. IAI began its transformation in April 2021 with the acquisition and integration of Tellerger, Inc. We were fortunate to find an exceptional partner and leader in Jamie Benoit who can quickly accelerate our growth. His understanding of new markets and his visibility on unique acquisition opportunities are adapted and aligned with the company’s transformation strategy. I’m proud to have led IAI as President to get us to this point, and I’m equally excited to remain on the Board to be part of this next chapter under Jamie’s leadership.

Mr. Benoit said, “IAI has provided the best government systems modernization services and has been a stable presence in government markets for more than a quarter of a century. Its workforce offers the perfect blend of entrepreneurial spirit and technical skills to enable the vision for the future of the Board of Directors and the management team. I look forward to leveraging the services we provide to our government partners, helping find new ways to solve tough problems, gain new capabilities, quickly reposition the company in the public markets and extend our products and services to commercial enterprises.

Stan Reese, President, said, “I am thrilled to have Jamie join the IAI and look forward to working with him. His extensive experience in the markets where IAI operates will allow him to work seamlessly with our clients and rapidly grow our business. »

About Information Analysis Incorporated
Information Analysis Incorporated (www.infoa.com), headquartered in Fairfax, Virginia, is an information technology products and services company. The Company specializes in software conversions, system upgrades and security.

Additional information for investors
This release may contain forward-looking statements regarding the company’s business, potential customers, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company’s 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission.

For more information, contact:

Jeremy Hellman, CFA
vice president
Equity Group Inc.
(212) 836-9626

Matt Sands, Chief Financial Officer
[email protected]
(703) 293-7925