NexTech Solutions Has Agreed to Acquire Rome Research Corporation to Expand Service Offerings and Enhance Mission Support Capabilities
PR Newswire
HUNTSVILLE, Ala., June 10, 2024
HUNTSVILLE, Ala., June 10, 2024 /PRNewswire/ -- NexTech Solutions (NTS) has entered into an agreement to acquire 100% of the issued and outstanding shares of common stock of Rome Research Corporation $(RRC)$, with an expected close by the end of Q2, 2024. NTS provides mission-focused solutions with cutting-edge technology, systems engineering, testing and evaluation, software, and subject matter experts to support U.S. DoD missions.
PAR Technology Corporation $(PAR)$, a global restaurant technology company providing unified commerce solutions for enterprise foodservice, announced today that it has agreed to the sale of its Government operating segment via the sale of its wholly owned subsidiaries: PAR Government Systems Corporation $(PGSC)$ and Rome Research Corporation (RRC) for a combined total of $102 million.
"NTS has agreed to acquire RRC to diversify our customer base and push our services into multiple COCOMS across the globe. NTS leadership has a deep history with OCONUS services and was impressed by the breadth of services offered by RRC and Rome's outstanding reputation and past performance," said CEO Joseph Paull.
In 2023, NTS secured a strategic investment from Clairvest, a top performing private equity fund with more than $3 billion of assets under management, to become a platform company for growth in the defense technology sector. NTS operates locations in Tampa, Huntsville, and Northern Virginia.
"This acquisition marks a significant milestone for NTS. We are excited to welcome the talented RRC Team and continue building upon what they have created. We will ensure a smooth transition for their employees and customers as we integrate them into NTS' Mission Support Solutions $(MSS)$ business unit," said Kris Nagy, EVP MSS.
About NTS
For over 11 years, NexTech Solutions (NTS) has provided systems engineering, testing and evaluation, and operational support, integrating hardware, software, and subject matter experts to support U.S. DoD missions. Our experts and engineers understand the challenges organizations face in finding and implementing the best defense technology solutions to meet their mission-critical objectives as the global tech landscape dynamically evolves.
We proudly support the United States Department of Defense and many other U.S. government customers around the world to determine the best solutions for exceeding mission objectives.
To learn more about NTS, please visit our website NTS, or connect with us on LinkedIn, Facebook, and Instagram.
Contact: Emilie Daigle - marketing@nextechsol.com
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SOURCE NexTech Solutions
(END) Dow Jones Newswires
June 10, 2024 09:57 ET (13:57 GMT)
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