SMX Bolsters Public Sector Offerings with Acquisition of cBEYONData
Deal News | Feb 11, 2025 | Globenewswire
SMX, recognized for its next-generation mission support, digital transformation, and IT solutions, announced its acquisition of cBEYONData. As a provider specializing in budget management and financial analytics solutions primarily for the Department of Defense and federal civilian agencies, cBEYONData brings a significant strategic value to SMX. The acquisition enables SMX to enhance its service offerings in the public sector, providing deeper digital transformation capabilities and an extensive portfolio of enterprise data and system solutions. Expertise with platforms like Oracle, SAP, and cloud services from AWS, Microsoft Azure, and Google Cloud ensures a strong market positioning for the combined entity. While financial terms were undisclosed, this strategic move underscores SMX's goal of addressing government clients' financial transparency and efficiency needs.
Sectors
- Information Technology and Services
- Government Contracting
- Private Equity
Geography
- United States – Both SMX and cBEYONData operate within the U.S., and the acquisition specifically targets federal agency clients in the country.
Industry
- Information Technology and Services – SMX and cBEYONData focus on IT solutions, including digital transformation and IT consultancy services.
- Government Contracting – The acquisition enhances service offerings that cater specifically to clients in the Department of Defense and federal civilian agencies.
- Private Equity – As cBEYONData was a portfolio company of Bluestone Investment Partners, this acquisition involves private equity interests.
Financials
- Not Disclosed – The financial terms of the SMX acquisition of cBEYONData were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SMX | Acquiring Company | Company | A leader in mission support, digital transformation, and IT solutions, targeting public sector and private clients. |
| cBEYONData | Target Company | Company | Provider of financial analytics and budgeting solutions for federal agencies, enhancing real-time data visibility. |
| Bluestone Investment Partners | Selling Company | Company | Private equity firm and previous owner of cBEYONData. |
| OceanSound Partners | General Partner | Company | Private equity firm involved in technology and technology-enabled services investments. |
| KippsDeSanto & Co. | Financial Advisor | Company | Provided financial advisory services to cBEYONData and Bluestone. |
| G Squared Capital Partners | Financial Advisor | Company | Joint financial advisor for cBEYONData in the acquisition process. |
| Holland & Knight | Legal Advisor | Company | Provided legal counsel to cBEYONData. |
| Gibson, Dunn & Crutcher LLP | Legal Advisor | Company | Legal counsel to SMX for the acquisition. |
| Peter LaMontagne | Person | People | CEO of SMX, commented on the strategic importance of the acquisition. |
| Dyson Richards | Person | People | CEO of cBEYONData, expressed optimism about the acquisition. |