M&A

NeoSystems to be acquired by holding company

Deltek provider NeoSystems Corp. is being acquired by Novume and will become one of several firms the latter publicly-traded holding company owns.

The financial value of the transaction was not disclosed. But it is a cash-and-stock deal along with the assumption of some NeoSystems debt.

NeoSystems supports back office operations for government contractors and other organizations. A major part of its business is supporting the use of Deltek’s project management and financial software.

The company will become a subsidiary of Novume once the deal closes sometime in the first quarter of 2018.

Novume got its start as AOC Key Solutions, but since then has added several other companies to form the portfolio of firms under Novume.

In addition to AOC Key Solutions, others include Firestorm Solutions, Novume Solutions Inc. and Global Technical Services Inc.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

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