Crimson Phoenix buys fellow intelligence tech integrator
Gettyimages.com / Yuichiro Chino
By
Ross Wilkers
The Godspeed Capital-backed company also hires a new chief financial officer with experience at other similar private equity-held contractors.
One month after its debut, Crimson Phoenix has made an initial acquisition to continue its push to become a larger provider of digital technology solutions to intelligence agencies and the Special Operations Command.
Crimson Phoenix's purchase of Cyberspace Solutions announced Monday also represents an expanded footing with SOCOM and the Defense Intelligence Agency.
Godspeed Capital is the private equity backer of Crimson Phoenix, having unveiled this new company in December as an integrator of artificial intelligence and machine learning technologies for data and analysis applications.
In conjunction with the transaction, Crimson Phoenix said it hired two-decade federal market veteran Scott Crane as chief financial officer in connection with the move. Crane has worked in the CFO role at private equity-backed contractors such as EOIR Technologies, Polaris Alpha and Illuminate.
Godspeed was advised by Latham & Watkins LLP. CSS was advised by Chertoff Capital.