CDI Corp. To Explore Strategic Alternatives

(RTTNews) - CDI Corp. (CDI), a provider of engineering and information technology talent, project and managed services, said that it has initiated a process to identify and evaluate strategic alternatives to maximize stockholder value.

As part of this process, it has engaged Houlihan Lokey, investment banking firm, as financial advisor to assist it in exploring a potential sale of the Company. Strategic alternatives will be evaluated in combination with the Company's ongoing transformation that focuses on disciplined operations and sales effectiveness.

The company is executing several enterprise-wide programs to drive revenue through deeper penetration of existing clients and industry verticals, acceleration of higher-end IT services, and unification of its operating platform to create enhanced effectiveness and operating leverage.

In connection with this review of strategic alternatives, the Company will be moving its Annual Shareholder Meeting to the fourth quarter of this year in order to allow the process to be concluded and to allow shareholders to act with the benefit of knowing the results of this effort.