STG Group announced the next step in its journey as a publicly-traded government contractor this week with its first acquisition since the company started to offer its shares in the market.
Reston, Va.-based STG will pay $119 million for Preferred Systems Solutions, a provider of high-performance computing, analytics and cyber services to federal agencies including those in the intelligence community.
“We are advancing our technological agility and ingenuity to meet the most complex and demanding national security challenges facing the U.S.,” said STG President Phil Lacombe, also an inductee into Executive Mosaic’s 2017 Wash100 list of GovCon’s Most Influential Voices.
“(PSS) has proven excellence in data analytics, cyber security, high performance computing, acquisition and program management, and software development.”
Founded in 1986 by Chairman Simon Lee, STG became a public company in 2015 through its combination with acquisition firm Global Defense & National Security Systems.
The deal for PSS set to close during the first quarter comes nearly 17 months after STG went public and aims to align with an ongoing innovation push at many national security agencies.
With next-gen technology trends in mind, the Potomac Officers Club will host its 4th Annual Intel Summit next Wednesday morning at the Ritz-Carlton Tysons Corner for public and private executives to get insight from their peers on priorities for intelligence agencies.
The intelligence community’s landscape is undergoing an evolution in response to fast-emerging technologies, while current and future programs will have to adapt and stay ahead of those trends.
Our scheduled keynote speakers for the event include (pictured left-to-right above):
- Robert Cardillo, director of NGA
- Michael Morrell, retired acting director and deputy director of the CIA
- John Adams, assistant director at the FBI’s intelligence directorate
- Jason Matheny, director of IARPA
Click here to register now and save your seat at this important and timely forum.
THIS WEEK’S TOP 10 GOVCON STORIES