Acquisition firm Global Defense & National Security SystemsÂ (Nasdaq: GDEF) has wrapped up its purchaseÂ of information technology services contractorÂ STGÂ for $165.5 million in cashÂ and stock.
The deal seeks toÂ integrate STGâs federal government sector clients and cyber and software platforms with GDEFâs 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 firmÂ that will operateÂ as STG Group.
Other board members willÂ 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 officerÂ andÂ GDEF CEO Dale Davis will serve as chief integration officer ofÂ the combined company.
STG announced the appointment of Charles Cosgrove as chief financial officer in October.
Cowen and Co. served as GDEFâs financial adviser in the transaction.