Salient CRGT this week said it has agreed to acquire federal information technology (IT) solutions provider Information Innovators, Inc. (Triple-i) in a deal it says cements its position in the mid-tier federal IT services market so that it can compete with larger firms while still retaining its agile, customer-focused approach.
Terms of the deal were not disclosed. Salient said the acquisition will bring its annual revenues to more than $500 million.
The acquisition adds customers and capabilities in federal healthcare IT, agile software development, data analytics, mobility, cyber security and infrastructure solutions, Salient said. Triple-i’s customers include the Departments of Health and Human Services, Education, Transportation, Veterans Affairs, Homeland Security, Defense, and the intelligence community.
“Salient CRGT’s acquisition of Triple-I directly support the company’s long-term growth objectives to create a premier mid-tier agile software development, data analytics, cyber security, and mobility solution and services company,” Brad Antle, Salient’s CEO, said in a statement. “Now positioned firmly in this mid-tier market segment, Salient CRGT will compete more successfully and profitably in the federal IT market space with notable new capabilities in healthcare IT and consulting, IT infrastructure, network engineering and operations management, and cloud-based technologies.”
Triple-i’s financial advisor on the deal is KippsDeSanto & Co. Salient is being advised by RBC Capital Markets and Sagent Advisors.
Salient is backed by two private equity firms Bridge Growth Partners, LLC and Frontenac Co. Triple-i is backed by DFW Capital Partners.