Washington Management Group acquires Fed Sources
- By Patience Wait
- Oct 24, 2003
Two leading government research and consulting companies are combining forces.
Washington Management Group, a Washington subsidiary of Koniag Corp., an Alaskan Native company, has acquired Federal Sources Inc., a McLean, Va., subsidiary of Primedia. The deal was completed Oct. 23, according to James Kane, president of FSI. Financial terms were not disclosed.
WMG provides consulting services and support for companies in the federal space. The company specializes in helping companies gain positions on General Services Administration schedules. Three of the company's top executives, including Chairman Paul Caggiano, were assistant commissioners at GSA.
FSI provides subscription database services that track government opportunities, contracts, spending patterns and agencies, as well as consulting services and special events.
Primedia owned FSI for about five years, Kane said. "We made a lot of progress during that time, but we were always something of an anomaly" for a media conglomerate, he said. "Now we're part of a company that's in our market, understands our market and is complementary in its business."
As one example, Kane said, FSI has been looking for ways to better serve its customers in the areas of schedules and indefinite delivery, indefinite quantity task orders. Washington Management Group "has a tremendous amount of insight" into those subjects, he said. The new, combined company will be a single source of support for companies in the space, he said.
FSI has 53 employees, while WMG has about 25. Kane would not say whether the FSI management team would stay on board. "We are focused on ensuring an orderly transition," he said.