DLN Holdings, LLC filed a Chapter 11 petition in the Northern District of Georgia on July 17, 2008. Case No. 08-73438.
Dataline Holding, Inc., an IT consulting services company, announced today that it has sold its federal services business, Dataline, Inc., to DLN Holdings LLC, an affiliate of The White Oak Group, an Atlanta, Georgia based private equity firm focused on investments in the aerospace and defense industry. Dataline Holding, Inc. will retain ownership of its commercial IT division, Dataline Consulting Services, LLC. The divestiture will allow the Company to focus its energies on the expansion of the existing commercial IT business that has been the company’s legacy since its founding in 1990.
DLN’s only asset is Dataline. Dataline’s business is described as follows:
Dataline is a leading transformational technology solutions provider to Department of Defense (DoD) and federal customers. Since 1990, our focus has been to integrate best-in-class technologies to provide robust, cost-effective Information Technology (IT) solutions for organizations of all sizes and missions of all criticalities. In partnership with our customers, we are accelerating the rate of change in the DoD’s transformation to Net-Centric Warfare and progressing America’s capability for total Information Dominance.
Also on July 17, 2008, Debtor DLN Holdings filed an adversary proceeding against Silver Point Finance, LLC, Field Point (, LLC, Field Point III, LLC SPF CDO I, LLC and SPCP Group, LLC, to enjoin them from enforcement of collection against Dataline.