PSS makes deal for Eagle Ray
Preferred Systems Solutions has made a deal to acquire Eagle Ray Inc. and add its leadership team to a new PSS division.
Terms of the deal were not disclosed, but Eagle Ray brings with it a spot on the General Services Administration's OASIS vehicle that PSS was not on.
Eagle Ray will become a division of PSS called Eagle Ray Technologies Group. Eagle Ray CEO Babs Doherty will lead the group as senior vice president.
Eagle Ray brings to PSS a set of customers such as the Office of Naval Intelligence, National Maritime Intelligence-Integration Office, the Defense Intelligence Agency, Homeland Security Department, Coast Guard, Joint Chiefs of Staff and Virginia Department of Aviation.
The acquisition is part of PSS’ strategy to move its business model to more higher-growth markets, PSS CEO Randy Morgan said.
“Eagle Ray has a tremendous reputation in the GovCon space built on solving tough technical problems of national significance,” he said. “These qualities will help accelerate PSS growth going forward. Doherty brings a professional, engaging and rigorous approach to business, with a proven track record of success.”
Over the last 14 months -- about the same as Morgan’s tenure as CEO -- PSS has been building technical capabilities, adding to its workforce and winning new work as well as recompetes, Morgan said.
"The Eagle Ray Team’s experience with solving tough technical problems, providing innovative tools, and implementing highly collaborative strategies to facilitate improved communications between the contracting community and various government agencies make them an ideal fit for PSS,” he said.
PSS is owned by the private equity firm CM Equity Partners, which acquired PSS in 2007. PSS was lined up in 2017 to be acquired by STG, but that deal failed when STG could not secure financing.
Posted by Nick Wakeman on Mar 02, 2020 at 8:35 AM