Effective June 12, 2007, Interactive Technology Solutions, LLC (ITSolutions) announced that it signed a definitive agreement to acquire ITEQ Integrated Technologies, Inc. (ITEQ), a U.S. federal government information technology services company based in Silver Spring, MD.
Through this acquisition, ITSolutions staff will increase to more than 500 professionals and as importantly will expand its suite of services provided to the federal, state, and local government services sector to include the following verticals:
IT Strategic Planning,
Network Engineering and Architecture,
and Data Center Relocation.
The acquisition gives ITSolutions several additional significant government contracts and expands its client base to include: Health and Human Services, the Food and Drug Administration, the Internal Revenue Service, the Department of Treasury, the Department of Defense, Alcohol Tobacco and Firearms, Office of Personnel Management, the Department of State and the DC Government. The combined company will operate as a prime contractor on nearly 70% of its contracts.
“ITEQ has a great reputation with its clients and a strong team of talented professionals that make it an excellent fit with the ITSolutions team,” said Stefan Lalos, CEO of ITSolutions. He added, “The capabilities of ITEQ and ITSolutions allow us to provide a greater level of service to our clients in support of their important missions.”
ITSolutions (http://www.itsolutions-llc.com) is a provider of information technology services to federal, state, and local government agencies. Headquartered in Gaithersburg, Maryland, ITSolutions was recognized in 2006 by Inc. Magazine as the nation’s 29th fastest growing private company (2nd in the technology sector), and by the Washington Business Journal as the 5th fastest growing company in the metro-DC area. The company was founded by Stefan Lalos and Mike Dietz and has a minority investment from the Edgewater Funds, a $1 billion private equity firm based in Chicago, Illinois.