M&A: SPARC, T4NG and CIO-SP3 Prime, Triple-i Acquired
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FAIRFAX, Va., Feb. 6, 2017 /PRNewswire/ -- Salient CRGT, Inc. ("Salient CRGT"), a leading provider of agile software development, data analytics, mobility, cyber security, and infrastructure solutions, today announced that it has signed a definitive agreement for the acquisition of Springfield, VA-based Information Innovators, Inc. ("Triple-i"), a technology and mission-focused company serving the federal government, with particular strength in the healthcare information technology ("IT") arena. The agreement is expected to close within the first quarter of 2017. Salient CRGT is backed by two private equity firms, Bridge Growth Partners, LLC and Frontenac Co, and Triple-i is backed by DFW Capital Partners.
The transaction combines two highly complementary businesses. Triple-i has spent the past 16 years building and delivering a full suite of next generation solutions, including healthcare IT services, enterprise IT solutions, cloud services and agile…
G2X TAKE: Did we mention Alliant too? The rumor stirring over the past several weeks came to fruition yesterday as one of the leading Federal Health IT acquirers over the past few years was the one being acquired.
If you follow G2X at all, Information Innovators, Inc. (Triple-i) will be a familiar name as our team has written about them often as this group has made big move after big move the past several years.
One of the original SDVOSB awardees on T4, Triple-i has experienced rapid growth. Not only have they continued to win their fair share of VA T4 (and now T4NG) task orders, but they have done an excellent job of expanding their footprint outside of Veterans Affairs. Much of this growth is due in part to key acquisitions made over the past few years, to include the additions of former T4 large prime, CCSI, as well as FDA mainstay, GlobalNet Services, Inc. (GNSI) .
In addition to recently securing prime spots on many of the major Federal Health IT vehicles (VA T4NG, CMS SPARC, CIO-SP3, etc.), Triple-I managed to secure several large and significant contracts at FDA and VA.
Acquiring firm, Salient-CRGT, brings their own set of health capabilities and contract vehicles, but this acquisition immediately vaults this group up the list as a major Federal Health IT player. Savvier firms looking to gain prime access to key contact vehicles will note that there is some overlap here with CIO-SP3 and Alliant.
** We should note that Triple-i was listed as one of the top 9 most attractive M&A targets in the 2016 Summer edition of FedHealthIT magazine - link here.
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