Booz Allen Hamilton Closes Acquisition of Digital Services Business Aquilent
MCLEAN, Va.--(BUSINESS WIRE)--
Booz Allen Hamilton today announced it closed the acquisition of the
Laurel, MD-based digital services firm eGov Holdings, Inc. (d/b/a
Aquilent) on January 24, 2017. Aquilent, which employs about 310
professionals, is a premiere architect of .gov solutions for the Federal
government, for whom it deploys cutting-edge digital, agile, DevOps, and
cloud capabilities. eGov Holdings, Inc. is now a wholly-owned subsidiary
of Booz Allen Hamilton Inc.
The transaction is expected to add approximately $20 million of revenue
through the remainder of Booz Allen's fiscal year 2017, which ends March
31, 2017. It is expected to be accretive to Booz Allen earnings and
operating margin in fiscal year 2018.
The transaction will bolster Booz Allen's growing technology
capabilities and talent base, particularly its emphasis on building
citizen-focused digital services. Aquilent will be the Laurel, MD hub of
Booz Allen's Digital Solutions business.
Aquilent currently provides digital and cloud services for the U.S.
Department of Health and Human Services, U.S. Postal Service (USPS),
U.S. General Services Administration (GSA), and other federal clients.
The acquisition will further expand Booz Allen's ability to blend its
consulting heritage with advanced technical expertise to deliver to
clients cloud, mobile and modular technology services using advanced
methodologies such as Agile, DevOps and open source.
Before the transaction's close, Aquilent worked with Booz Allen and the
U.S. Navy to divest the SeaPort-e Portal contract to a third party to
resolve any potential organizational conflict of interest (OCI)
concerns. The divestiture included all data, code rights, associated
assets, and about 30 staff related to this contract. The SeaPort-e
Portal contract will not impact the anticipated synergies of the
acquisition for Booz Allen.
ABOUT BOOZ ALLEN HAMILTON
Booz Allen Hamilton (NYSE: BAH) has been at the forefront of strategy
and technology for more than 100 years. Today, the firm provides
management and technology consulting and engineering services to leading Fortune
500 corporations, governments, and not-for-profits across the globe.
Booz Allen partners with public and private sector clients to solve
their most difficult challenges through a combination of consulting,
analytics, mission operations, technology, systems delivery,
cybersecurity, engineering, and innovation expertise.
With international headquarters in McLean, Virginia, the firm employs
approximately 22,800 people globally, and had revenue of $5.41 billion
for the 12 months ended March 31, 2016. To learn more, visit www.boozallen.com.
Certain statements contained in this press release include
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify forward-looking statements by terminology such as "may,"
"will," "could," "should," "forecasts," "expects," "intends," "plans,"
"anticipates," "projects," "outlook," "believes," "estimates,"
"predicts," "potential," "continue," "preliminary," or the negative of
these terms or other comparable terminology. Although Booz Allen
believes that the expectations reflected in the forward-looking
statements are reasonable, it can provide no assurance these
expectations will prove to have been correct.
Readers are cautioned not to place undue reliance on those
forward-looking statements, which speak only as of the date the
statement was made. Such forward-looking statements are based on current
expectations and assumptions of our management that involve a number of
known and unknown risks, uncertainties and other factors which may cause
actual results or events to be materially different from those expressed
or implied by such forward-looking statements. These factors include,
but are not limited to, our ability to realize the anticipated benefits
of the acquisition, and other factors detailed in Booz Allen's filings
with the Securities and Exchange Commission (SEC), including its Annual
Report on Form 10-K, filed with the SEC on May 19, 2016.
All forward-looking statements attributable to Booz Allen or persons
acting on its behalf are expressly qualified in their entirety by the
foregoing cautionary statements. All such statements speak only as of
the date made and, except as required by law, Booz Allen undertakes no
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170124006307/en/
Booz Allen Hamilton
James Fisher, 703-377-7595
Curt Riggle, 703-377-5332.
Source: Booz Allen Hamilton
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