NowVertical Group Inc. of Toronto has acquired government cloud computing consultancy Allegient Defense of Arlington, Virginia. The purchase price is approximately $ 10.4 million, although the final purchase price may vary based on longer-term targets and revenue achieved. An analysis based on an annual multiple EBITDA was not disclosed.
This is the technology M&A deal number 342 covered by ChannelE2E so far in 2022.
M&A: Government IT Consulting Expertise
Allegient Defense, with approximately 75 employees, provides cloud computing, data analytics, artificial intelligence/machine learning, directed energy, autonomous aerial vehicles and next-generation weapons system services and support to its customers. U.S. federal government, the seller states.
Allegient supports organizations such as the U.S. Office of Naval Research (ONR), Defense Advanced Research Projects Agency (DARPA) and U.S. departments of Defense, State and Energy and employs engineering, information technology, program and project management, executive support, data talent management and compliance, the company says.
Meanwhile, NOWVertical is a big data, analytics and intelligence software and services company with M&A experience. For example, NOWVertical gets:
- Exonar of the UK in March 2022 for data security software expertise in structured and unstructured data sets.
- CoreBI of Latin America in February 2022 for data engineering, big data, data management, business intelligence and data science expertise.
NOW Acquires Allegient: Next Chapter of Growth
Darren Trousdell, chairman and CEO, NOW
Describing the latest acquisition, NOWVertical CEO Daren Trousdell said:
“In partnership with Allegient, we continue to grow our government. Alllegient’s positive history of contract performance along with the highest level of U.S. Federal Government customers, efficient management and administrative team and infrastructure marks critical and relevant. excited to expand NOW’s public sector capabilities and offerings.We are also pleased to consider MVB Bank, which chose to finance this transaction due to Allegient’s history of positive performance and profitability, as one of our new and trusted stakeholder. ”
Angel Diaz, PMP, CEO of Allegient, added:
“NOW’s resources and strengths will allow Allegient to enter our next chapter of growth while maintaining our reputation for unparalleled customer service through our unwavering dedication to solving complex challenges. faced by our customers. We are very proud of everything we have done at Allegient and look forward to growing as part of the NOW team. ”
Government IT Consulting M&A: Q1 2022 Deals
Meanwhile, M&A activity remains strong in the government IT consulting market. Consumers in Q1 of 2022 include: