Cornell Companies, Inc. to Acquire Correctional Systems, Inc.

February 7, 2005 Cornell Companies, Inc. to Acquire Correctional Systems, Inc. Cornell Companies, Inc, announced on January 24, 2005, that it has signed an agreement to acquire Correctional Systems, Inc., for approximately ten million dollars. The transaction is expected to generate annual revenue of an estimated $16 million. The acquisition includes the operation of eight jails, six community corrections facilities, and five alternative sentencing programs, located in California, New Mexico, Texas, and Kansas. The transaction will add 986 corrections beds, as well as alternatives to incarceration services, including electronic monitoring, day reporting, counseling, and drug testing services. Cornell Companies is . . .