Maximus completes its $300 million acquisition of Acentia
Reston-based government-services provider Maximus has completed its $300 million all-cash acquisition of Acentia.
The deal was finished on April 1, Maximus said.
Falls Church-based Acentia is a provider of systems modernization, software development, program management, and other information technology services and solutions to U.S. federal government civilian and health agencies. The company has about 1,000 employees.
Maximus expects the acquisition to expands its U.S. federal services business through additional contract vehicles and access to federal government agencies.
Maximus funded the deal and related costs and expenses with cash on hand and $225 million borrowed under its revolving credit facility.
Maximus operates government health and human services programs in the United States, United Kingdom, Canada, Australia and Saudi Arabia. It has about 16,000 employees worldwide.