The Ambit Group on Tuesday acquired GreenZone Solutions with the backing of private equity firm AE Industrial (AEI) partners to build out the federal services company.
Terms of the deal were not disclosed.
Ambit provides information technology modernization, business transformation and mission support services to federal customers and GreenZone brings expertise in data management and analytics, cyber security, and agile software development for federal customers.
“We designed and built Ambit with the intention of creating a platform company with the leadership, infrastructure, and ideation necessary to attract strong business partners and position us for exponential growth,” Kim Hayes, founder and CEO of Ambit, said in a statement. “GreenZone is the perfect complement to Ambit’s core strengths. Their leadership team built a data management powerhouse that provides federal customers the power to analyze, personalize, and optimize critical decision-making processes.”
Hayes will be joined as co-CEO of Ambit by Ashequl Hoque, who has been the company’s chief financial officer and a partner. Qasim Hussain, chief operating officer of GreenZone, will be the company’s chief innovation officer. Aliya Hussain, former owner and CEO of GreenZone, is retiring from the company.
Kirk Konert, a partner at AEI, said that the private equity firm created a special fund to “provide mid-sized companies with the financing they need to achieve greater scale and services.” He added that “The demand for transformative IT services in the federal government has never been greater, and we believe the combination of Ambit and GreenZone will offer their customers a wider array of IT solutions.”
Ambit’s mergers and acquisition consultant on the deal was Agreeance LLC.