WASHINGTON – Booz Allen Hamilton continues to grow its contracting business through acquisitions even as it undergoes an independent review of its personnel procedures after two employees were caught stealing classified information.
The McLean-based government consulting contractor has agreed to pay $250 million to acquire eGov Holdings Inc., based in Laurel, Maryland, which is the parent company of government IT contractor Aquilent.
Aquilent will become a wholly-owned subsidiary of Booz Allen and serve as a Maryland-based hub for its digital business.
Booz Allen expects the acquisition to close by the end of the year.
Aquilent, with about 350 employees, provides digital and cloud services to government agencies including the Department of Health and Human Services, the U.S. Postal Service and the General Services Administration.
Booz Allen reported that Aquilent’s revenues have been growing at a compound annual rate of 28 percent for the last five years. And the acquisition will add $30 million to $35 million to its annual revenue.
