Media company GovExec announced the carve-out and acquisition of 1105 Media Inc.’s Public Sector 360 Group, an information, insights and lead generation company for the government technology community.
The announcement was made by GovExec CEO Tim Hartman and 1105 Media Inc. President and CEO Rajeev Kapur.
Hartman said GovExec makes strategic decisions meant to leap the company forward, build its expertise in new areas and complement its larger portfolio.
“Public Sector 360 is a seminal acquisition for us,” he said. “Now with the largest database of government leaders, and the scale and breadth across the public sector technology community, we can catalyze government in an even more effective manner.”
Terms of the transaction are not being disclosed.
Peter Goldstone, chairman of GovExec, served as adviser. The deal was completed with financial support from mid-market private-equity firm Growth Catalyst Partners, and CapM Advisors acted as financial adviser to 1105 Media Inc.
“Over the last several decades, we built a company to help government leaders and contractors be more informed, more competitive and more connected,” Kapur said. “I am so proud of what we have accomplished and where we continue to excel serving other sectors. For our government technology business, this is a great move.”