System One makes second federal IT M&A deal in TPGS
By
Ross Wilkers
System One makes its second federal IT market acquisition in less than a year, this time for TPGS to gain more of a defense and intelligence footprint.
Less than a year after one federal IT market acquisition, System One has made another to add more of a footprint in defense and intelligence agencies, both of which are highly sought-after by dealmakers.
This latest pickup by System One is of TPGS, which also specializes in cybersecurity, business intelligence, and training and instructional design services for federal agencies. In a release Thursday, System One said it envisions the deal as complementing its addition of GAP Solutions late last year that brought a civilian and health agency presence along with Navy and Army contract vehicles.
System One is a Pittsburgh-headquartered professional staffing firm with more than 7,000 employees and four offices in the Washington, D.C. metropolitan region. Reston, Virginia-based TPGS will operate as a subsidiary of GAP Solutions post-close.
This is just the latest transaction in what seems to be an endless cycle of merger-and-acquisition activity by contractors of all shapes and sizes to try and grab more of a share of a growing budget pie centered around defense and IT spending increases.
Clark Hill was System One's legal adviser. The McQuillan Group helped carry out financial due diligence.