Novume Solutions Inc., a holding company of professional services firms, has announced an agreement to acquire NeoSystems Corp., with a deal expected to be finalized in the first quarter of 2018.
Based in Tysons Corner, Virginia, NeoSystems provides professional services, technology solutions and strategic back office support to more than 700 government contractors, trade associations and nonprofit organizations. Novume will acquire Neosystems for $5 million cash, $10 million in Novume restricted stock and Novume’s assumption of certain NeoSystems’ liabilities.
Novume said the acquisition allows it to expand the services it offers to help its clients manage their workflow and people most efficiently.
NeoSystems will become a wholly owned subsidiary of Novume, and the closing is contingent on completion of a financing and certain other conditions.
The Benchmark Company LLC is acting as financial adviser to Novume for the NeoSystems transaction.