Author: Brenda Marie Rivers|| Date Published: July 31, 2020
Bethesda, Md.-based private equity firm IMB Partners has invested in network security company Ashburn Consulting for an undisclosed amount to help grow the latter’s presence in the government information technology services market.
IMB said Wednesday the deal builds on its investment in IT services provider e&e six years ago and begins a long-term partnership with Ashburn.
Indiana, Pa.-based S&T Bank provided debt financing assistance for the Ashburn transaction.
“The private equity markets have shifted since COVID-19, but we remain very active given the resiliency of electric and gas utility services and government contracting,” said Tarrus Richardson, CEO of IMB.
Richardson added that an increase in cyberattacks and network demand for remote work arrangements drive a tailwind for the security sector.
Ashburn is headquartered in Northern Virginia and offers network engineering, cybersecurity and IT architecture support services to the national security community.
The Naval Information Warfare Center Pacific is soliciting proposals for the development and fielding of intelligence, surveillance and reconnaissance systems…
The Department of War is accelerating its push into unmanned systems, moving beyond experimentation toward large-scale production, streamlined acquisition and…
BAE Systems has received a $117.7 million contract modification from the U.S. Navy to support depot-level modernization, maintenance and repair of USS…
Advanced wireless infrastructure is becoming as strategically important as artificial intelligence in modern defense operations 5G standalone enables network slicing,…
