M&A

Ambit Group, Greenzone merger creates new digital transformation player

A pair of federal government technology services companies have merged to unveil a larger player in digital transformation and other next-generation IT initiatives.

The Ambit Group and GreenZone will go to market under the Ambit brand post-close, the companies said Tuesday. Private equity firm AE Industrial Partners supported the transaction through its “Structured Solutions Fund” that invests in medium-sized companies.

Ambit will also have co-chief executives with its founder and CEO Kim Hayes being responsible for strategy and growth, while GreenZone’s CEO Ashequl Hoque overseeing operations and corporate development.

Vienna, Virginia-headquartered Ambit focused on management consulting and business transformation services to federal agencies. GreenZone is headquartered in Arlington and touts its offerings in data analytics and management, software development, cybersecurity and business intelligence.

Qasim Hussain, GreenZone chief operating officer, GreenZone, will shift to chief innovation officer to drive ideation and new technology solutions. Other members of the leadership team include Sandy Peavy as chief information officer, LC Cook as chief growth officer, and Eric Hansen as senior vice president of delivery operations.

Former GreenZone owner and CEO Aliya Hussain is retiring from the company, according to the release.

Atlantic Union Bank financed the deal. Agreeance served as Ambit’s M&A consultant. Holland & Knight acted as legal adviser to Ambit with Pillsbury Winthrop Shaw Pittman in the same role for GreenZone.

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