Ball Aerospace & Technologies Corp. announced that it has acquired Wavefront Technologies Inc., a provider of systems and network engineering, software development, and analytical services to the US government and commercial clients. Based in Annapolis Junction, Maryland, Wavefront employs over 100 cleared systems engineers, software engineers, and analysts, all of whom will transition to Ball as part of the transaction.
Rob Strain, Ball Aerospace President states: “Our collective, deep subject matter expertise provides tremendous synergies across our defense, intelligence and information solutions business areas, as well as significant opportunities to diversify and grow in existing and adjacent markets. It also further expands our presence in the Washington, D.C. metropolitan area.”
Deal terms were not disclosed.
San Diego, California-based Aerial MOB LLC announced that it has reached a strategic partnership agreement with Quantum Spatial Inc. (QSI). Aerial MOB provides UAS aerial technology applications and is the first compapny in the US to gain FAA approval for commercial drone use. QSI is a supplier off geospatial data and solutions. Under the strategic agreement, both companies will work towards combining their capabilties to better provide geospatial data solutions via UAS technology.
h/t to Andre Doumitt at Digital Adopxion for the tip.
SOS International LLC (SOSi) announced that it has acquired New World Solutions, a Service Disabled Veteran Owned Small Business based in Fairfax, Virginia. New World Solutions provides imagery science, cyber analytics, and advanced technology research to defense and intel customers including the Office of the Secretary of Defense, National Ground Intelligence Center, National Geospatial Intelligence Agency, and National Reconnaissance Office.
According to the press release: "The addition of New World Solutions significantly increases SOSi's presence within the intelligence community in the national capital region and broadens its clients and technical capabilities to support the national cyber and intelligence, surveillance and reconnaissance missions."
Deal terms were not disclosed.
Update 1/29/16: Xerox announced more details today regarding the separation of the company into two business. The Business Process Outsourcing business which generated $7 billion in 2015 revenue and includes the ACS business acquired in 2010 will be spun out to Xerox shareholders in a tax-free deal. The remaining $11 billion revenue business which provides document management and document outsourcing is called Document Technology.
The stated strategic rationale for the deal (since they can't just say "cause Carl made us do it") include enhanced strategic and operational focus, simplification of organizational structure and resources, distinct and clear financial profiles, and compelling equity investment cases. Xerox also announced a three-year $2.4 billion cost savings initiative.
The spinoff is expected to be completed by year-end.
1/28/16: Under pressure from activist investor Carl Icahn who owns an 8 percent stake in the company, Xerox Corp. will be spinning off its services business to its shareholders by the end of the year. According to The New York Times, part of the spinoff will include the Affiliated Computer Services business that Xerox acquired for $6.4 billion in 2010. Reuters is reporting that Icahn will get three board seats on the company holding the services business.
Tetra Tech Inc. announced that it completed the acquisition of Coffey International Limited on January 18, 2016. The deal was originally announced last October. Based in Sydney, Australia, Coffey provides technical and engineering solutions in international development and geoscience. For the fiscal year ended June 30, 2015, Coffee had revenues of $409 million and EBITDA of $17M (USD) resulting in an enterprise value to revenue multiple of 0.3x and EBITDA multiple of 7.3x.
AgentHero, a national network of real estate agents who are all veterans or military spouses, announced that it has merged with the Military Property Project (MPP) to create MILLIE. MPP provides military personnel and their spouses with the resources to manage, own, and invest in real estate. MILLIE is an online community to support military families during relocations to new duty locations. Deal terms were not disclosed.
Battle Resource Management Inc. (BRMi) announced that it has acquired Clearsoft Inc., an IT services company based in Fairfax, Virginia that provides agile enterprise software development and systems integration services to the Federal government and commercial organizations. Clearsoft is a HUBZone Small Business and is a sub-contractor on various contract vehicles including EAGLE II, SeaPort-e, GSA PBS, JMAS IV, and DIA E-SITE. The company's government clients include DHS, US Courts, Department of Commerce, and the Department of Defense. Deal terms were not disclosed.
Cognizant announced that it has acquired Nashua, New Hampshire-based KBACE Technologies Inc., a consulting firm specializing in cloud strategy, implementation, and integration. KBACE's specialty is Oracle Cloud applications and the company's 400 consultants provide services across various industries including aerospace & defense, industrial manufacturing, medical device/product based life sciences, and high-tech manufacturing.
Allen Shaheen, EVP of Cognizant states: "The addition of KBACE technologies and expertise in delivering SaaS digital solutions accelerates Cognizant's cloud strategy and consulting services, provides our clients with access to significant platform expertise and puts us at the forefront of Oracle Cloud partners and technology consultants worldwide"
Deal terms were not disclosed.
Addtech Group announced that it has acquired Norweigan firm Goodtech Products AS, a provider of products, solutions, and services in the field of automation to the industry and the public sector. The company has 23 employees and revenues of $9.8 million. The transaction is expected to close in the beginning of February. Deal terms were not disclosed.
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