Booz Allen Hamilton
Jan 24, 2017
PDF

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.

BAHPR-FI

FORWARD-LOOKING STATEMENTS

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.

Booz Allen Hamilton
Media Relations
James Fisher, 703-377-7595
or
Investor Relations
Curt Riggle, 703-377-5332.

Source: Booz Allen Hamilton

News Provided by Acquire Media