Arlington Capital firm closes back-to-back deals
By
Nick Wakeman
Novetta Solutions closes its second acquisition since August with a deal for International Biometrics Group.
Novetta Solutions made its second acquisition in the past month as it picked up International Biometric Group.
Novetta was formed in March, when its private equity owner combined White Oak Technologies Inc. and FGM Inc. into a single entity.
In August, Novetta acquired White Cliffs Consulting.
Terms of the deal for IBG were not disclosed. With the acquisition, Novetta is adding identity intelligence services capabilities and customers in the government and private sector. The company will be known as IBG, a Novetta Company. Raj Nanavati and Samir Nanavati, co-founders of IBG, will continue to lead the organization.
“We gain a new set of strategically significant capabilities and technical solutions in the emerging field of identity intelligence, the nexus of biometrics and virtual identity management,” said Novetta CEO Peter LaMontagne.
The acquisition also creates new career opportunities for Novetta employees in areas such as data analytics, cybersecurity, social media and gaming, he said.
Arlington Capital is backing Novetta and wants to build a company that provides mission critical solutions to national security customers, said Michael Lustbader, a partner at the private equity firm.
The investment bank, Houlihan Lokey, acted as financial advisor to IBG.