Serco Announces Agreement to Acquire WBB, Strengthening Presence in High-End Consulting Services to Defense Markets

Combination to expand Serco capabilities in advanced weapons acquisition, program management, wargaming, machine learning, cybersecurity, and data analytics and mission support services

February 16, 2021 2:12 AM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Herndon, Virginia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Serco Inc., a provider of professional, technology, and management services, announced today that the company has entered into a definitive agreement to acquire Whitney, Bradley & Brown, Inc. (WBB) from an affiliate of H.I.G. Capital for $295 million. The acquisition, subject to certain regulatory approvals, is expected to close in the second quarter of 2021.

The acquisition would substantially strengthen Serco’s position providing acquisition and program management services to the Department of Defense, which has been a critical growth area for the company in recent years. WBB has around 1,000 employees, including more than 200 subject matter experts (SMEs) with experience in their respective technical disciplines. The deal will bolster Serco's existing capabilities in advanced areas, including Artificial Intelligence, machine learning, data analytics, and cyber consulting. It will provide new expertise in disciplines such as wargaming, modeling, and simulation.

WBB provides consulting services including acquisition & program management, mission performance, and advanced analytics and machine learning to the federal government and had annual revenues of approximately $212 million in 2020. Its team supports numerous mission critical programs and several major platforms across the Department of Defense.

"Serco has enjoyed a relationship with WBB for many years working side by side on numerous defense programs.  We have been consistently impressed with the expertise and passion of this team,” said Dave Dacquino, Chairman and CEO of Serco Inc. “This acquisition aligns with our strategy to expand our scope of services with the Air Force, Army, Missile Defense Agency, Office of the Secretary of Defense, and other key accounts. WBB brings a physical presence and established customer relationships at strategic locations that fit Serco's service offering. Their expertise in weapons modernization, including cybersecurity, improved sensors, machine learning, and tactical networking, is highly complementary to our existing work for the US Navy and other DoD customers. We view this as a growth-oriented acquisition and look forward to welcoming the outstanding team of professionals that they have assembled.”

Robert Olsen, CEO of WBB, who will serve as Senior Vice President of the new Serco business unit, commented: “We are excited about the prospect of joining Serco and taking advantage of their larger platform to sustain the tradition of high-quality products, collaboration, and growth that WBB has become known for since our founding in 1981. Serco’s focus on helping defense and federal civilian customers to modernize weapons platforms and reinvent how government services are delivered is aligned with our team's expertise and aspirations. This combination allows us to broaden the solutions we can offer to our existing clients and compete for new sizeable opportunities with a compelling integrated offering."

###

For further information, please contact:

Alan Hill, alan.hill@serco-na.com, 703-263-6500

About Serco Inc.:  Serco Inc. is a leading provider of professional, technology, and management services. We advise, design, integrate, and deliver solutions that transform how clients achieve their missions. Our customer-first approach, robust portfolio of services, and global experience enable us to respond with solutions that achieve outcomes with value. Headquartered in Herndon, Virginia, Serco Inc. has approximately 8000 employees and annual revenue of $1.4 billion. Serco Inc. is a wholly-owned subsidiary of Serco Group plc, a $5 billion international business that helps transform government and public services around the world. More information about Serco Inc. can be found at www.serco.com/na.

About WBB: Whitney, Bradley & Brown, Inc. (WBB) is a leading provider of program management and consulting services to the US Department of Defense and other federal agencies. WBB's highly specialized and experienced workforce provides services across the full lifecycle from program development to ongoing support and mission performance. WBB, founded in 1981, has approximately 1000 employees.  The company has a proven 39+ year history on programs of record that are vital to national security interests. Headquartered in Reston, Virginia, WBB is an ISO 9001-registered company with employees operating at 15 strategically located facilities across the country. For more information, visit https://wbbinc.com.

Alan Hill
Serco Inc
703-263-6500
alan.hill@serco-na.com
Source: Serco Inc


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Globe Newswire, Press Releases

Related Entities

Definitive Agreement