Technest Holdings sells EOIR subsidiary to private investment firm

January 2, 2008 by · Comment
Filed under: Acquisitions, Technest Holdings, U.S. Army 

This is a case where the parent company became realistic and realized that there was a good chance that they would not win a contract where they were the incumbent. Technest Holdings sold their EOIR subsidiary to a private investment firm for $34 M dollars. $23 M of it contingent on the winning of a contract from the US Army for the fourth time in a row. Each time a contract is re-competed it gets a little harder for the incumbent to win it. If the customer or contracting officer doesn’t desire new blood, the situation with the company may have changed as to its small business or minority owned status. See the full article here.

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