Maximus to buy Acentia in $300 million deal
- Published: March 10, 2015
Reston-based Maximus Inc. signed a definitive agreement to buy Acentia for $300 million — the latest in a rapid string of acquisitions among mid-tier contractors.
Maximus (NYSE: MMS), which reported $1.7 billion in 2014 revenue, is buying the Falls Church-based technology contractor from private equity firm Snow Phipps Group LLC to expand its federal services business. It will add about 1,000 employees to the workforce.
"Acentia introduces new contract vehicles and capabilities that complement our existing business process management offerings and capabilities for government markets," said Maximus CEO Richard Montoni in a released statement.