Booz Allen Hamilton (NYSE: BAH) has agreed to buy Laurel, Maryland-based digital services contractor Aquilent for approximately $250 million in a push to grow technology offerings, talent pipeline and citizen-focused digital services.
Booz Allen said Tuesday the deal aims further the McLean, Virginia-based company’s efforts to integrate consulting and technical expertise to help customers implement cloud, mobile and modular platforms with the use of agile and DevOps methodologies.
Booz Allen expects the deal to close by Dec. 31, subsequently contribute between $30 million and $35 million to the firm’s fiscal year 2017 revenue and help increase its 2018 fiscal year operating margin.
Aquilent, also known as eGov Holdings, employs nearly 350 professionals who provide digital and cloud services to government clients such as the General Services Administration, Department of Health and Human Services and the U.S. Postal Service.
“This acquisition expands our network of digital solutions offerings with a team of technologists and a modern facility where we can advance cutting-edge solutions for our clients and take advantage of growth opportunities in the market for large digital projects, ” said Greg Wenzel, executive vice president of Booz Allen’s digital business.
“This exciting addition to Booz Allen will bolster our capacity to provide digital transformation to clients, ” Booz Allen President and CEO Horacio Rozanski added.
Booz Allen cited the acquisition as part of its larger Vision 2020 strategy to invest resources in areas such as cloud computing, big data, mobile devices, new development methodologies and rapid product and service deployments.
Houlihan Lokey acted as financial adviser to Aquilent, which reported a 28-percent compound annual growth rate in revenue over the last five years.