NetStar-1 sells unit to keep government focus
Company makes deal with fellow contractor to emphasize consulting
- By Nick Wakeman
- Oct 27, 2010
NetStar-1 has sold its IT and commercial sales divisions so it can focus on providing management consulting to the federal government.
The company split off the businesses by selling it to another government contractor, Interactive Technology Solutions of Silver Spring, Md., which is backed by the private equity group Snow Phipps Group LLC.
“With the sale, NetStar-1 will focus exclusively on federal management consulting, where its core service offerings are in high demand,” said Bill Strang, CEO of NetStar-1. NetStar is backed by the private equity group Lake Capital.
The sale also will help the company focus on organic growth and acquisitions. Terms of the deal were not disclosed.
For IT Solutions, the deal brings deeper technical expertise, said Stefan Lalos, president and CEO.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.