KippsDeSanto & Co. advises eGlobalTech on its Sale to Tetra Tech
KippsDeSanto & Co. advises eGlobalTech on its Sale to Tetra Tech
KippsDeSanto & Co. is pleased to announce the sale of our client, eGlobalTech, Inc. (“eGlobalTech” or the “Company”) to Tetra Tech, Inc. (“Tetra Tech”).
Based in Arlington, VA, eGlobalTech provides the federal government with innovative solutions that produce enduring results through its strategy, information technology, cloud and cybersecurity consulting services. The Company is well-known for its ability to deliver advanced frameworks such as DevOps Factory®, artificial intelligence, data science, and cloud computing. eGlobalTech also utilizes its eGT Labs to prototype emerging technology solutions and test new technologies, allowing the Company to quickly resolve complex issues for clients.
The transaction expands Tetra Tech’s capability set in artificial intelligence, data analytics, and advanced cybersecurity while providing new federal customers such as the U.S. Department of Health and Human Services.
We believe this transaction demonstrates several key trends in the government services M&A market:
- Buyers are focused on M&A as an effective strategy to access next-generation IT capabilities including cybersecurity, cloud, and “as-a-service”
- Deep domain and subject matter expertise, particularly when coupled with long-term relationships, are critical differentiators for sellers in a crowded M&A market
- Continued M&A interest in high-end government technology solutions businesses from non-traditional buyers
About KippsDeSanto & Co. KippsDeSanto & Co. is the largest independent investment banking firm exclusively focused on serving leading, growth-oriented Aerospace/Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight and broad industry relationships. There’s no substitute for experience. For more information, visit www.kippsdesanto.com.
Press Release
Tetra Tech Expands its Technology Solutions with Acquisition of eGlobalTech
PASADENA, California (BUSINESS WIRE) April. 3, 2019 – Tetra Tech, Inc. (NASDAQ: TTEK) announced today that it has acquired eGlobalTech, a high-end information technology (IT) solutions, cloud migration, cybersecurity, and management consulting firm based in Arlington, Virginia.
“The integration of emerging technology into our consulting practice continues to advance Tetra Tech’s ability to provide innovative solutions for our clients,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of eGlobalTech and their laboratory incubator will allow us to pilot and apply exciting new techniques that incorporate artificial intelligence, data analytics, and advanced cybersecurity solutions for our government and commercial customers. Further, eGlobalTech brings us a suite of new federal clients, including the U.S. Department of Health and Human Services.”
Sanjiv Jain, eGlobalTech CEO, commented, “Our employees are excited about joining the Tetra Tech family and the opportunities that a broader, global platform offers. This merger will provide us with the high-end partnership, with a like-minded company, that will continue to advance the application of IT to more clients and projects, while providing extraordinary new opportunities for our employees to apply their expertise.”
The terms of the acquisition were not disclosed. eGlobalTech is joining Tetra Tech’s Government Services Group.
About eGlobalTech (www.eglobaltech.com)
eGlobalTech is a leading IT solutions, cybersecurity, and management-consulting firm based in Arlington, VA. Our focus is providing the federal government with innovative solutions that produce enduring results, leveraging cutting-edge technologies and frameworks such as DevOps Factory®, artificial intelligence, data science, and cloud computing.
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With more than 17,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions (“Future Factors”), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section “Risk Factors” included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.
