McLean, Virginia-based government contractor Booz Allen Hamilton will acquire Herndon, Virginia-based Liberty IT Solutions LLC for $725 million.
Liberty IT Solutions has about 600 employees, with other operations in Exton, Pennsylvania, and Melbourne, Florida. Its work includes IT modernization projects for government agencies and in the health care industry, including the Department of Veterans Affairs, expanding Booz Allen’s growth in health care consulting.
“This acquisition supports our long-term strategy to drive continued growth by investing in innovative technologies and talent at scale,” said Booz Allen Chief Executive Horacio Rozanski.
“The addition of Liberty strengthens our unique market position as a leader in digital transformation, accelerates already robust growth in our health business and beyond, and delivers value for our people, our clients, and our shareholders.”
Liberty IT Solutions has a backlog of more than $2 billion in IT modernization work. Booz Allen said the acquisition will immediately increase revenue growth and earnings.
The acquisition is expected to close in the first quarter of Booz Allen’s 2022 fiscal year.
Booz Allen Hamilton is the largest government technology contractor in the D.C. area, with almost 14,000 employees locally, and more than 27,000 worldwide. The company has annual revenue of about $7.5 billion.
