Booz Allen Hamilton has entered into a definitive agreement to acquire EverWatch.
EverWatch, a portfolio company of Enlightenment Capital, was founded in 2017 and is headquartered in Reston, Virginia. The company builds and operates mission-critical classified platforms to help defend against national cyber threats. It brings its legacy of service to national security agencies and core capabilities in software development and architecture, cloud, analytics, artificial intelligence and machine learning to Booz Allen.
“Booz Allen and EverWatch share a deep commitment to protecting our national interests with advanced technology, mission intimacy, and digital transformation,” said John Hillen, CEO at EverWatch. “We look forward to the combined strength of our organizations to deliver exceptional support to clients in the intelligence community and beyond.”
EverWatch’s capabilities will complement Booz Allen’s AI and cyber portfolio, and will help Booz Allen accelerate the delivery of classified software development and analytics capabilities for national security clients.
The transaction is expected to close in the first quarter of Booz Allen’s fiscal year 2023. Then, EverWatch will operate as a wholly owned subsidiary of Booz Allen and work closely with the firm’s national security sector.
“U.S. national and economic security depends on secure, trusted, and resilient technology, and in the most dynamic threat landscape of our time, delivering advanced solutions with speed and agility is essential for mission success,” said National Security Sector President Judi Dotson.
“Combining Booz Allen’s mission experience and advanced technologies with EverWatch’s classified software development and analytics capabilities will help implement faster and more comprehensive solution delivery to help defense and intelligence agencies transform and stay ahead of threats,” Dotson added.
Booz Allen’s Chief Strategy Officer Matt Calderone said the companies’ combined capabilities will deliver exceptional value for clients, employees and shareholders.
“EverWatch is an excellent strategic and cultural fit and this acquisition is a strategic accelerator well aligned with Booz Allen’s VoLT strategy, our investment thesis, and our expanding National Cyber platform capabilities,” he said.
Jefferies LLC served as financial adviser, King & Spalding LLP as legal adviser and Avascent provided strategic industry advisory services for Booz Allen. EverWatch retained Baird as financial adviser and Moore & Van Allen PLLC as legal adviser.
