GTSI revenue loss report no obstacle to small-biz acquisition

Company buys InSysCo to gain access to TIPPS4 contract

GTSI Corp. has completed its acquisition of Information Systems Consulting Group Inc., a private federal IT professional services provider. Financial terms of the deal were not reported in the announcement dated Aug. 16.

InSysCo and its more than 110 employees provide software development and support services to the federal civilian marketplace.

The acquisition expands GTSI’s professional services capabilities in software and database development and maintenance, the announcement states.

It also gives GTSI access to InSysCo’s recently awarded spot on the Treasury Department’s $4 billion Total Information Processing Support Services 4 (TIPSS-4) prime contract. Its largest customer is the IRS, according to the announcement.

News of the acquisition comes on the heels on GTSI’s second-quarter and second-half 2011 earnings announcement, which showed revenue declines of nearly 40 percent for both periods compared to the corresponding periods of 2010.

“The acquisition of InSysCo represents a significant step in executing our strategy of growing the professional services component of our business,” Sterling Phillips, GTSI president and CEO, said in the announcement.

InSysCo, of Fredericksburg, Va., brings a new dimension of technical capability to GTSI’s ability to deliver comprehensive IT solutions to its customers, Phillips added.

The McLean Group acted as M&A advisers to InSysCo.

GTSI, of Herndon, Va., ranks No. 68 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.

About the Author

David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
 Top 100 Promo 2016
contracts DB
SEARCH

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More