Skip to main content

Booz Allen closes on $725M acquisition of Herndon IT contractor

The Booz Allen Hamilton logo is seen on a building in Annapolis Junction, Maryland, on March 11, 2019. (Photo by Jim WATSON / AFP)

McLean, Virginia-based Booz Allen Hamilton, already the largest government IT contractor in the D.C. region, has completed its acquisition of Herndon-based Liberty IT Solutions for $725 million.

Liberty IT Solutions is now part of Booz Allen’s civilian services group.

The company has about 600 employees. In addition to its Herndon headquarters, it has operations in Exton, Pennsylvania, and Melbourne, Florida. Its work includes IT modernization projects for government agencies and the health care industry, including the Department of Veterans Affairs.

The acquisition expands Booz Allen’s growth in health care consulting.

Liberty IT Solutions has a backlog of more than $2 billion in IT modernization work. Booz Allen says the acquisition will immediately increase revenue growth and earnings.

Booz Allen paid for the acquisition with a combination of cash and from proceeds of a $500 million debt offering earlier this month.

Booz Allen has more than 14,000 D.C.-area employees and almost 28,000 worldwide. It had $7.9 billion in 2020 revenue, almost of all which came from government contracting sales.

Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks

HONG KONG (AP) — Oil prices fell Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days. Crude prices remain volatile after the U.S. said early Thursday it had conducted a “heavy wave” of strikes against Iran, responding to an attack on a U.S. base. U.S. futures edged higher after losses on Wall Street. In South Korea, recent drops in its benchmark Kospi, a big beneficiary of the global boom in artificial intelligence, have been seen by some analysts as a reflection of broader doubts about massive investments by technology giants in expanding capacity for AI.
Read Next Story