Booz Allen Hamilton has completed the acquisition of Liberty IT Solutions for $725 million in an effort to enhance the former’s ability to deliver end-to-end digital offerings and expand its digital transformation portfolio.
Liberty will now operate as a Booz Allen company and integrate with its Civilian Services Group led by Executive Vice President Kristine Martin Anderson, Booz Allen said Monday.
“This acquisition is directly on strategy and will fuel our growth. Booz Allen and Liberty share a passion for people, innovation, and technical excellence. I am pleased to welcome an exceptional team of colleagues with an equal commitment to helping clients use disruptive technology to transform and advance missions,” commented Horacio Rozanski, president and CEO of Booz Allen.
Liberty is a digital company that works to drive transformation across the federal information technology ecosystem with its modern software development capabilities.
“We are excited for Liberty’s next chapter as a Booz Allen company and the new opportunities this brings for our people and our clients,” stated Scott Hanawalt, president of Liberty.
“We look forward to continuing to serve clients with integrity and ingenuity as we work together to accelerate transformation across the federal market, bringing our unique insights, expertise, and culture to bear as we join Booz Allen in empowering people to change the world,” added Hanawalt.
The transaction was previously announced on May 4 and was funded through a combination of excess cash on hand and net proceeds from Booz Allen’s $500 million debt offering announced on June 7.
Baird served as the exclusive financial adviser to Liberty, and Holland & Knight LLP functioned as legal adviser in connection with the transaction. Booz Allen’s exclusive financial adviser for the transaction was Jefferies while its legal adviser was King & Spalding.