McLean technology and intelligence services company IntelliBridge Inc. has dipped into the bubbling mergers and acquisitions pool, buying Fairfax information technology firm Alethix LLC in a deal announced Monday afternoon.
Terms of the acquisition were not disclosed.
The purchase provides IntelliBridge — formed from last year’s combination of Trowbridge & Trowbridge and IntelliWare Systems, both portfolio companies of Chevy Chase government technology investment firm Enlightenment Capital — with a range of enterprise system engineering and information technology offerings.
The deal also doubles the company’s size to around 600 full-time employees, all under the helm of IntelliBridge President and CEO Cass Panciocco, a 30-year veteran who formerly presided over ASRC Federal’s information systems and technology group.
Alethix, a certified disadvantaged, woman-owned and minority-owned business as designated by the Small Business Administration, specializes in information infrastructure transformation services with a focus on systems design and integration. It’s been led by President and CEO Mamta Patil, a previous technology executive at CMCI and SAP Americas who founded Alethix in 2012.
With contracts in the departments of Homeland Security, Defense and Agriculture as well as the Census Bureau, Alethix taps into cloud platforms to design new IT architectures through the practice of DevSecOps, where IT solutions are collaboratively and iteratively developed by engineers, operations personnel, security specialists and others to ensure each group’s specialties are baked into the application.
DevSecOps and cloud computing have become prized capabilities for federal agencies of late, especially as they work to modernize legacy IT infrastructures faster to accommodate larger numbers of teleworking employees in the wake of the Covid-19 pandemic.
“The exigencies of Covid and a disparate workforce have only accelerated the need for the U.S. government to leverage cloud-based architectures and flexible, secure enterprise systems,” Enlightenment Capital Managing Partner Devin Talbott told the Washington Business Journal. “IntelliBridge helps drive the modernization and agile development efforts of its clients, and Alethix brings a similar DNA centered around innovation and technical flexibility.”
The acquisition follows a number of significant developments for Enlightenment Capital’s invested companies. Ashburn-based cyber and cloud services company Telos Corp. (NASDAQ: TLS) went public in November with a $17-a-share initial public offering. Its shares were trading around $39 on Tuesday.
In December, Leidos Holdings Inc. (NYSE: LDOS) acquired Enlightenment Capital-backed 1901 Group in a $215 million deal.
Tysons-based investment bank KippsDeSanto & Co., an investment arm of Capital One Financial Corp. (NYSE: COF), served as financial adviser to Alethix for the acquisition.