November 27, 2006
McDonald Bradley Inc., an information technology solutions provider to the government marketplace, has acquired the Federal Business Unit of Software Performance Systems Inc. (SPS) of Falls Church, VA for $15 million. An additional $3.5 million could be earned if certain milestones are met. SPS, established in 1995, specializes in the design and integration of large, Web-based solutions for federal, state and local governments and commercial clients worldwide. In recent years, it has developed expertise in service-oriented architectures (SOA).
McDonald Bradley will integrate approximately 60 SPS employees and 20 consultants into its Civilian Agency practice area. With this acquisition, the company adds to its presence at such agencies as the Department of Justice and the U.S. Patent and Trademark Office, while adding some new agencies to its portfolio such as the Library of Congress and the National Oceanic and Atmospheric Administration.
The SPS Federal Business Unit contributed nearly 85 percent to the company's total annual revenues. The company was ranked number 10 in the Computerworld Top 100 Best Places to Work in IT.
"The SPS proficiency in SOA system development, enterprise architecture, and IT security coupled with its focus on the federal civilian agencies clearly aligns with our long-term business plans and goals," said Kenneth Bartee, president and CEO, McDonald Bradley. "This strategic acquisition positions us favorably toward achieving aggressive revenue targets sooner than projected, while appreciably adding depth to our talented pool of software engineers, program managers and system architects that will allow us leverage our presence within these agencies."
SPS founder and president Gregory Dorsett will remain with SPS and focus on developing the state, local and commercial market segments for the company.
"The sale of our Federal Business unit is a positive, strategic step in our own company lifecycle, enabling those employees and customers to benefit from the cutting edge IT leadership that McDonald Bradley brings to bear in the federal sector," Greg Dorsett said. "With this capital infusion in place, we will now devote our resources and attention to serving other markets."
SPS is certified with an SEI CMM Level 2 rating and has been recognized through a myriad of awards that have been bestowed on its government clients, including the "Grace Hopper Federal Government Technology Leadership Award" by Government Executive Magazine, the "E-Gov Pioneer Award," the "Excellence.gov Grand Prize Award" by Federation of Government IP Councils, and the "Government IT Agency Award for Excellence in Government," to name a few.
BB&T/Windsor Group is serving as financial advisor to McDonald Bradley in this transaction and financing was provided by SunTrust Bank. NewRoad Partners Inc is serving as consultants to SPS in this transaction.
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