Booz Allen Hamilton has been at the forefront of strategy and technology consulting for 100 years. Our business strategy focuses on the proactive development, scaling, and delivery of market relevant capabilities to meet the needs of our clients today and, more importantly, their future needs. We serve our clients by identifying, analyzing, and solving their most complex problems. We leverage our deep domain knowledge and understanding of their core missions while providing differentiated functional capabilities in management consulting, mission operations, technology, and engineering services. Read on to learn more about our corporate history, our operating model, our institution, and our people.
As the needs of our clients have grown more complex, we have expanded on our management consulting foundation by developing capabilities that include deep expertise in technology, engineering, and analytics.
We remain focused on the future and have both the perspective of history and openness to change that enable us to seize new opportunities and deliver value, day after day, to our clients, employees, communities, and investors.
Booz Allen's rich history of innovation and client service began in 1914 with its founder, Edwin Booz. He was a visionary who, at the beginning of World War I, established a new industry called management consulting, designed to "take the measure" of a business problem. He was later joined by Jim Allen and Carl Hamilton.
In the ten decades since, we have indeed taken the measure of many different business problems. We assisted the American Red Cross in the 1930s; helped the U.S. Navy prepare for war in the '40s, introduced the "product life cycle" concept in the '50s; helped structure the newly formed National Football League in the '60s; helped Chrysler with its historic turnaround in the '70s; began work on NASA's space station in the '80s; assisted the Internal Revenue Service with major transformation in the '90s; and in the early 2000s issued an advanced analysis of strategic security issues, eventually leading to a significant cybersecurity capability in the firm. Today, Booz Allen is a leading provider of management consulting, technology, and engineering services to the U.S. government in defense, intelligence, and civil markets. Additionally, we provide our management and technology consulting services to major corporations, institutions, and not-for-profit organizations.
On July 31, 2008, we spun off the commercial and international portion of the company. Booz Allen Hamilton Holding Corporation was incorporated in Delaware to serve as the top-level holding company for the consolidated Booz Allen Hamilton government consulting business. Following the spin-off, we were indirectly acquired by The Carlyle Group, which today remains a majority equity owner.
Our Class A Common Stock began trading under the symbol BAH on the New York Stock Exchange on November 17, 2010. The initial public offering issued new primary shares and the proceeds were used to pay down existing debt.
In 2012, following the end of our non-compete agreement, which was established in connection with the spin-off, the firm opened a new office in the Etihad Towers complex in Abu Dhabi, bolstering our presence in the MENA region. In 2013, we registered in the Kingdom of Saudi Arabia to expand our government and commercial consulting business in the Middle East.
As Booz Allen reaches forward to its next 100 years, we will adhere to the values and practices that have fueled our past success — and embrace others that are critical to the future.
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