Private equity firm High Street Capital has acquired NeoSystems, an IT systems integrator and managed services provider (MSP) to the government contractor market. Financial terms of the deal were not disclosed.
This is technology M&A deal number 558 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
NeoSystems Areas of Expertise
NeoSystems, based in Tysons Corner, Virginia, has nearly 200 employees. The company has been an Inc. 5000 honoree multiple times. The current management team -- including CEO Michael Tinsley and CTO Rob Wilson -- will remain in place.
Key NeoSystems areas of expertise include:
- CMMC Compliance;
- Financial Planning;
- Managed Security Services;
- Managed IT Services;
- Managed Human Capital; and
- Professional Services.
Noteworthy NeoSystems technology partners include Amazon Web Services (AWS), Citrix Systems OpenText Carbonite, Oracle NetSuite, SAP Concur, and Workday, among others.
Looking ahead, NeoSystems plans to expand its customer support staff, launch new products, broaden its channel offerings, and expand its overall workforce. Budget figures and a timeline for the expansion plans were not disclosed.
High Street Capital Acquires NeoSystems: Executive Perspectives
In a prepared statement about the deal, Tinsley said:
"This is a terrific outcome for our company, customers, partners and workforce. With the investment and confidence of High Street Capital, we will be able to expand our services and optimize market opportunities to better drive customer success and meet their increasing appetite for strategic outsourced and managed IT services."
Added Timothy J. Kurth, partner at High Street Capita:
"We see tremendous growth potential for NeoSystems especially as the rate of digital transformation has accelerated due to changes resulting from the pandemic. NeoSystems offers a full complement of strategic and business essential functions that helps to ensure a company's success. We believe with our guidance and oversight we can help take the company to the next level."