Acentia acquires InSysCo to improve software development options
In an effort to improve its software development solutions, Acentia has acquired InSysCo for an undisclosed sum. This is being done as Acentia plans a new financial services sector of its company's operation.
According to a press release, the Fredericksburg, Va-based business, InSysCo brings with it CMMI Level 3 for software development appraisal as well as a prime position on the Treasury Department's TIPSS-4 task order contract. It will also expand the software development and IT systems modernization to financial-related customers in the federal market. That sector includes the Treasury, Internal Revenue Service and Securities and Exchange Commission.
InSysCo President Danielle Johnson will move over to Acentia and serve as a senior vice president and sector executive of the new business venture. On top of that, 150 InSysCo employees will also be making the move.
"The acquisition of InSysCo significantly strengthens Acentia's software development and IT systems modernization capabilities—key growth areas for the company—for financial services and other customers. Additionally, there are strong systems development and maintenance synergies between InSysCo and Acentia," said Acentia CEO Todd Stottlemyer. "We are pleased to come together with a company of such great reputation and deep domain knowledge and whose focus on the customer's mission wholly aligns with that of Acentia."
This is the perfect example of a company using a technology acquisition to bring experience and certifications in a complex sector into its organization, which would otherwise be complicated to accomplish. Breaking into a marketplace like finance brings with it numerous challenges, and acquiring a company that is already familiar with it can be the best business plan.