MERGERS & ACQUISITIONS
Salient buys List to counter coming budget cuts
Company brings self-funded customers to Salient
- By Mark Hoover
- Nov 13, 2012
Salient Federal Solutions Inc. has completed its acquisition of List Innovative Solutions Inc.,expanding its presense in civilian agencies.
The deal is a good strategic move for the company in light of upcoming budget cuts, company officials said. Terms of the deal were not disclosed.
“LIST’s capabilities, people, and contracts are in a position to survive and thrive in the changing federal environment. Together, we will be able to provide superior expertise and capabilities that are in demand today.” Brad Antle, Salient CEO.
Bill Parker, Salient COO, said that the acquisition expands Salient’s growth strategy. He added that this is “is the perfect time to invest in great companies like List, that have capabilities, staff, and contracts we can grow in this market.
List also brings strong software development expertise in case management, COTS and GOTS integration, personnel security systems, and benefit systems.
“The acquisition of List directly supports Salient’s mission to provide the IT, engineering, and analysis services that our customers need most – so they can meet the challenges they face now,” said Antle.
List expands Salient's federal software and application development contracts to over 90 percent of its contract base. It brings work in modernization, big data, financial, personnel security process, case management and benefits management systems.
It will also be able to add to its portfolio flexible blanket purchase agreements within the Office of Personnel Management and the U.S. Patent and Trademark Office, Salient said.
Because List is focused on agencies that are self-funded and support essential national needs, "we expect their funding will have great resiliency,” said Parker.
Mark Hoover is a contributing writer to Washington Technology.