MAXIMUS (MMS) Completes Acentia Deal

MAXIMUS (NYSE: MMS) announced hat on April 1, 2015, it completed the acquisition of Acentia, a provider of systems modernization, software development, program management, and other information technology services and solutions to U.S. federal government civilian and health agencies. The acquisition expands the Company’s U.S. federal services business through additional contract vehicles and access to federal government agencies that are core to the MAXIMUS business model.

The all-cash transaction is valued at approximately $300 million. MAXIMUS funded the acquisition and related costs and expenses with cash on hand and $225 million borrowed under its revolving credit facility.

MAXIMUS will provide additional financial details and make any updates to guidance on May 7, 2015 concurrent with the reporting of its results for the fiscal 2015 second quarter ending March 31, 2015.

“We are pleased to report the completion of the combination with Acentia. The combination better positions MAXIMUS as a full-service provider of business process management services coupled with technology solutions to serve U.S. federal civilian and health agencies. The acquired client relationships and contract vehicles serve as an additional growth platform for our U.S. federal business,” commented Richard A. Montoni, Chief Executive Officer of MAXIMUS. “We welcome the approximately 1,000 employees joining us from Acentia and are very appreciative of their strong commitment to excellent client service.”

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