NexTech Solutions acquires Rome Research Corporation in $102m deal
NexTech Solutions (NTS) has made a significant move in the defense sector by agreeing to acquire Rome Research Corporation (RRC), a subsidiary of PAR Technology Corporation (NYSE: PAR). The transaction, valued at $102 million, is set to close by the end of Q2 2024, marking a major expansion for NTS in global defense technology services.
This acquisition is a strategic step for NexTech Solutions, allowing it to diversify its customer base and extend its services across multiple Combatant Commands (COCOMs) globally. Joseph Paull, CEO of NTS, highlighted the strategic fit, stating, “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.”
In 2023, NTS secured a strategic investment from Clairvest, a top-performing private equity fund, to become a platform company poised for growth in the defense technology sector. With operations in Tampa, Huntsville, and Northern Virginia, NTS is well-positioned to integrate RRC’s capabilities and enhance its service offerings in the defense industry.
Kris Nagy, EVP of Mission Support Solutions (MSS) at NTS, expressed enthusiasm about the integration, “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 business unit.”
The acquisition of RRC by NexTech Solutions not only enhances NTS’s capabilities in the defense sector but also strengthens its market position significantly. By incorporating RRC’s renowned services and expertise, NTS is poised to offer more comprehensive solutions to its clients, particularly in supporting U.S. Department of Defense missions. This move is expected to result in increased operational efficiencies and a broader service portfolio that aligns with current defense technology demands.