Acentia adds health IT chops with 2020 acquisition
- By David Hubler
- Apr 02, 2012
Technology and management solutions provider Acentia has acquired 2020 Company LLC, a health IT company serving the federal market. Financial terms of the deal were not reported in the April 2 announcement.
The newly combined company, which will be known as Acentia, has more than 1,200 employees.
2020’s chief operating officer, Robert McCord, will assume the position of president and COO of Acentia. Todd Stottlemyer will remain Acentia CEO.
2020, of Falls Church, Va., is a professional services firm that delivers business and technology solutions to the government through consulting and outsourcing services in the areas of health, education, and science, according to the announcement.
For the past 11 years, 2020 has specialized in custom system maintenance, systems development and integration, technology infrastructure support, and a variety of business services, including program/project management, business process support, and mission support services.
2020 customers include the Centers for Medicare and Medicaid Services, the Centers for Disease Control and Prevention, the Education Department and the National Oceanic and Atmospheric Administration.
With the acquisition, Acentia adds new offices in Atlanta and Baltimore and more capabilities in cloud computing, strategy and enterprise architecture, application development, operations and maintenance, and data analytics, the announcement said.
“The addition of 2020 extends Acentia’s reach with the services and expertise to pursue and execute more and even larger opportunities on programs of national significance,” Stottlemyer said. “This merger aligns with the goals we stated publicly last year when we re-branded the company, specifically, that we would look to grow Acentia in order to provide expanded capabilities to our customers."
The principal investor in Acentia is Snow Phipps Group LLC, a New York private equity firm that acquired a majority stake in the company in 2009 as part of a strategy to build a company in the government technology services space.
In addition to Snow Phipps’ investment, senior credit bank financing for the 2020 acquisition and a line of credit for future working capital are being provided by RBS Citizens, Citizens Bank, Bank of America N.A., M&T Bank and SunTrust Bank.
KippsDeSanto & Co. acted as exclusive financial adviser to 2020 in this transaction.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.