McLean, Virginia-based analytics firm PlanetRisk has purchased service-disabled, veteran-owned small business Analytic Strategies for an undisclosed sum in an effort to expand its suite of analytics platforms.
Randy Wimmer, founder and CEO of Analytic Strategies, will sit on PlanetRisk’s board of directors and serve as a strategic adviser to PlanetRisk President and CEO Paul McQuillan, PlanetRisk said Tuesday.
PlanetRisk also appointed Denis Clements, president and chief operating officer of Analytic Strategies, as the company’s COO as part of the acquisition.
McQuillan said the purchase would help PlanetRisk expand its geospatial business intelligence, big data engineering and social network analysis services as well as provide access to Analytic Strategies’ workforce, indefinite-delivery/indefinite-quantity contracts and intelligence and defense sector clients.
Mark Dumas, PlanetRisk founder and chief strategy officer, said PlanetRisk will leverage the transaction to develop and introduce an analytics platform-as-a-service software designed to meet its clients’ operational requirements.
Frontier Capital and Petra Capital Partners helped fund the acquisition.
Venable and Odin Feldman & Pittleman respectively served as legal representatives of PlanetRisk and Analytic Strategies in the deal.