Acquisition firm Global Defense & National Security Systems (Nasdaq: GDEF) has wrapped up its purchase of information technology services contractor STG for $165.5 million in cash and stock.
The deal seeks to integrate STG’s federal government sector clients and cyber and software platforms with GDEF’s network of partners in the national security and defense sectors, STG said Tuesday.
STG Founder and Chairman Simon Lee will serve as chairman of the board of directors at the merged firm that will operate as STG Group.
Other board members will include Damian Perl, chairman of GDEF and Global Strategies Group CEO; Ronald Spoehel, former chief financial officer at NASA and ManTech International (Nasdaq: MANT); Robert Murrett, former director of the National Geospatial-Intelligence Agency; and David Gompert, former acting director of national intelligence.
Paul Fernandes will continue to serve as president and chief operating officer and GDEF CEO Dale Davis will serve as chief integration officer of the combined company.
STG announced the appointment of Charles Cosgrove as chief financial officer in October.
Cowen and Co. served as GDEF’s financial adviser in the transaction.