Oasis adds high-end tech skills with MAR deal
By
Nick Wakeman
Oasis Systems has acquired MAR Inc. in a deal that brings it more engineering, cyber and software skills.
Oasis Systems has completed its acquisition of MAR Inc., bringing on more engineering, cyber and software and application development skills.
Terms of the deal were not disclosed, but the combined companies will have over $100 million in annual revenue. Oasis had $70 million in revenue prior to the acquisition and more than 500 employees, according to its website.
The company was founded in 1997 and is backed by the private investment firm, the GF Fund, based in New York. GF acquired Oasis in 2010.
MAR was founded in 1971 and brings a significant amount of Navy work to Oasis, including support for maritime surveillance, anti-submarine warfare, and advanced undersea surveillance. The company provides research, development, engineering and deployment services.
Other domain expertise includes cybersecurity domain expertise for critical infrastructure protection.
MAR was advised by Bluestone Capital Partners. Oasis was advised by Houlihan Lokey.
Combined, Oasis will have about two dozen locations across the United States providing C4ISR programs; IT and cyber capability; and systems engineering and marine operations for warfighters across the globe, the company said.
MAR will become a division of OASIS and MARS' senior management team, led by CEO Mike Norcio, will remain in place.
The deal fits several trends in the market, according to a Bluestone release, including:
- Continued market consolidation
- Premium for businesses with strong backlogs and revenue visibility (MAR is at the beginning of several long-term contracts and its specialized skills give it a long-term track record as an incumbent)
- Significant depth of management talent