Sotera Announces the Acquisition of Potomac Fusion, Inc.
MCLEAN, Va., Dec. 2, 2011 /PRNewswire/ — Sotera Defense Solutions (Sotera), a provider of mission-critical, technology-based systems, solutions and services for national security customers, announced that on December 1, 2011, the company entered into a definitive agreement to acquire Potomac Fusion, Inc. Potomac Fusion develops data fusion, data analytics, cyber and visualization solutions for U.S. Intelligence Community (IC) and Department of Defense (DOD) Tactical ISR mission systems operating in a cloud computing environment.
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John Hillen, Sotera’s President & CEO, stated, “At Sotera our strategy is to strengthen, deepen and align our core capabilities to address the rapidly evolving requirements of our national security customers. With core values that closely match our own – commitment to the customer’s mission and strong emphasis on agility, ingenuity and innovation – Potomac Fusion is a natural addition to the Sotera team. Potomac Fusion’s significant expertise in cloud computing architectures, data fusion and data analytics solutions will bolster the broad range of support we can provide to our customers operating on the front lines of cyber warfare, intelligence, and tactical ISR.”
The Chantilly, Virginia-based company was founded in 2002 with a focus on developing software frameworks for data fusion and big data analytics for DOD customers. With the accelerated demand for cloud architectures and data analytics, Potomac Fusion has grown steadily and now has over 200 employees delivering leading-edge cloud architecture and software engineering solutions to the U.S. IC and DOD. The company is projecting revenues of $40 million for 2011.
Russell Richardson, CEO of Potomac Fusion commented, “We are pleased to take this next step in growing our business. Combining our operations with Sotera will enable us to further strengthen our support to our IC and DOD customers. Sotera’s mission focus, agility and spirit of innovation and ingenuity were the key elements that attracted us to the company.”
Terms of the deal were not disclosed and Sotera expects the transaction to close in December 2011, subject to customary closing conditions.
Chertoff Capital, the investment banking affiliate of The Chertoff Group, is serving as the exclusive financial advisor to Potomac Fusion. Chertoff Capital provides merger and acquisition advisory services in the defense, intelligence, cybersecurity, and homeland security markets.
About Sotera Defense Solutions, Inc.
Sotera Defense Solutions, Inc. (Sotera) is an agile, mid-sized national security technology company that delivers innovative systems, solutions and services in support of the critical missions of the Intelligence Community, Department of Defense, Department of Homeland Security and federal law enforcement agencies charged with ensuring the safety and security of our nation. Sotera provides essential counterterrorism, cyber operations, intelligence, C4ISR and force mobility solutions to our customers throughout the national security community. Learn more about Sotera at www.soteradefense.com.
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