LinQuest management, including CEO Dr. Leon Biederman, will retain a significant minority ownership position and will continue to lead the company. Financial terms of the transaction were not disclosed.
“LinQuest is a unique, differentiated technology company serving critical national security programs in the growing space market,” said Matt Norton, a managing director on MDP’s business & government software & services team. “Maintaining U.S. space superiority and ensuring the resilience of our nation’s space-based defense and intelligence technology infrastructure have become heightened government priorities addressing global threats, and we look forward to working with LinQuest’s experienced management team and talented employees to drive the Company’s growth.”
Headquartered in Los Angeles, with offices throughout the country, LinQuest designs, develops and delivers engineering and advanced technology solutions to Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance programs of national importance.
“Partnering with MDP and CoVant enables us to expand our R&D capabilities, improve our business development resources and enhance our customer offerings, thereby accelerating our growth both organically and through future acquisitions,” Biederman said. “Both MDP and CoVant have a demonstrated track record of success partnering with similar government technology companies and generating significant value. We are excited to gain access to their deep industry expertise and work together to realize LinQuest’s next chapter of growth.”