Richard Montoni: Maximus Wraps Up Acentia Purchase

Richard Montoni
Richard Montoni

Maximus (NYSE: MMS) has closed its $300 million cash purchase of Acentia to add technology products and service offerings to Maximus’ federal portfolio.

“The acquired client relationships and contract vehicles serve as an additional growth platform for our U.S. federal business, ” Richard Montoni, CEO of Maximus and an inductee into Executive Mosaic‘s Wash100 list for 2015, said Monday.

The company said it used available cash and approximately $225 million in credit facility funds to finance the acquisition, which Maximus announced in March.

Maximus plans to hold an event on May 7 to issue updated earnings guidance as well as report financial results for the second quarter of its 2015 fiscal year.

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