NowVertical Group has agreed to purchase Allegient Defense as part of efforts to further broaden its footprint in the U.S. public sector.
Allegient Defense provides systems engineering and technical services in the areas of data analytics, cloud computing, artificial intelligence and autonomy, unmanned aerial vehicles, directed energy and next-generation weapons systems in support of the departments of Defense, State and Energy, Office of Naval Research and other agencies, NOW said Tuesday.
Allegient Defense, formerly ADS Federal prior to the rebranding in July 2020, has approximately 75 employees and has about $66 million in contracted revenue backlog.
Big data software company NOW expects the acquisition to help advance the delivery of its Vertical Intelligence Government software and related platforms to federal clients.
Daren Trousdell, chairman and CEO of NOW, said Allegient Defense’s analysts and service providers and the experience and insight they bring will enable NOW to tailor its approach in support of customers in the public sector.
NOW will acquire 100 percent of the outstanding and issued securities of Allegient Defense for approximately $10.4 million through a stock purchase agreement, which includes a closing cash payment of $1.8 million, an earnout of up to an additional $4 million and assumption of a third-party loan to Allegient.
