Prnewswire | April 19, 2023
Renovus Capital Partners ("Renovus") today announced that its newly formed platform, Aretum, LLC ("Aretum" or the "Company"), has acquired Miracle Systems, LLC ("Miracle"), an Arlington, VA-based prime contractor to more than twenty federal agencies domestically and internationally. Miracle joins existing Renovus portfolio company Panum Telecom, LLC ("Panum") within Aretum, a leading mid-tier organization focused on providing management consulting, mission support and technology solutions. Aretum primarily serves the DoD, DHS and Federal Civilian agencies through a broad array of contracts, contract vehicles and talented resources.
"We are excited to bring together a rich and diverse pool of highly talented professionals under one organization," said Dr. Vaikunth Gupta, Co-Founder of Panum. "Our goal is to continue building Aretum into a best-in-class service provider to DHS, civilian and Department of Defense agencies."
"The combination of Panum and Miracle under the Aretum umbrella is yet another step in our growing commitment to support the mission of government agencies with technology and management consulting services," said Atif Gilani and Manan Shah, Partners at Renovus Capital. "We are confident that Aretum will bring technology-focused innovative solutions to support our customers while unlocking value for our investors and stakeholders."
Sandesh Sharda, Founder and CEO of Miracle Systems, commented, "Renovus really stood out from the other investors we considered. They had already made a significant growth investment in Panum and have great familiarity and understanding of the space where we operate."
Aretum becomes the third Renovus platform in the government service space. Renovus will leverage its deep expertise across the broader knowledge and talent space to continue building each platform through a combination of organic expansion and add-on acquisitions.
King & Spalding served as legal counsel to Renovus and Panum. UBS Investment Bank served as exclusive financial advisor to Miracle Systems, and Greenberg Traurig served as legal counsel.
About Miracle Systems
Miracle Systems is an innovative solutions provider bringing an entrepreneurial spirit and thought leadership to the Federal Government. We are an array of program managers, engineers, financial analysts, IT experts, systems designers, security specialists, trainers, and mission support specialists who have joined forces to create timely, tested, and sustainable solutions. Our signature offerings encompass PMO support, engineering services, financial consulting, IT modernization initiatives, mission-critical cyber support, and comprehensive training services. Established in 2003 and headquartered in Arlington, VA, our success has been demonstrated by cultivating long-term employees – and long-term clients. We proudly service over 100 contracts, and prime over 90 – managing over $900 million across civilian and military sectors. Miracle Systems consistently delivers high levels of customer satisfaction through innovation, ethics, and excellence.
About Aretum, LLC
Aretum LLC is a newly formed holding company that owns Miracle Systems and Panum Telecom. Miracle Systems (www.MiracleSystems.net) provides leading edge solutions and outstanding service to Federal clients, focusing on PMO Support, Financial Consulting, Engineering Services, Training Services, IT Systems, Cyber Mission. Miracle System has 90 active Prime Contracts across the US Government. Panum Telecom, LLC (www.panum.com) offers a broad spectrum of mission services including nutritional health, and management consulting services such as program & project management, acquisition & contract management, business & strategy consulting and next generation analytics, information and communications technology services such as network infrastructure & security, research & analysis, and training to Federal Government agencies. Panum is based in Bethesda, MD.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. Renovus manages over $1 billion including its three sector-focused funds. The firm's portfolio includes over 25 businesses in education and training, healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its experience to make operational improvements, recruit top talent, pursue add-on acquisitions, and oversee strategic growth initiatives.
Planview | March 08, 2023
On March 07, 2023, Planview, one of the leading platforms for connected work from portfolio planning to delivery, announced it achieved Impact Level 4 (IL4) authorization in partnership with a Planview-certified partner, Rise8. In addition, Planview's Value Stream Management (VSM) solution, Planview® Tasktop Viz, is integrated with Second Front Systems' Game Warden platform for authorization. With Authorization to Operate at IL4, Planview can deploy its VSM solution to agencies within the Department of Defense and Intelligence Community.
In an increasingly digital world, the federal government intensifies the demand to build and run software that helps its people and mission. However, as government agencies struggle to keep up with contemporary solutions, the pace of IT reforms and the impact of technology on operations is at a breaking point. As a result, innovative federal programs and agencies are implementing secure operating models to improve government service delivery.
In the Forrester Wave™: Value Stream Management Q4 2022 report by Sarah Morana, Chris Condo, and Kara Hartig, Planview was named a leader on December 6, 2022, after the company acquired Tasktop in the previous year.
CTO at Planview and Creator of the Flow Framework®, Mik Kersten, stated, “With our VSM solution authorized to operate at the federal level, leaders can now gain unprecedented visibility into transformation efforts. We are helping to close the digital divide between the public’s expectations of modern digital experiences and what technology services the federal government can offer when building on large, complex, and legacy systems.” He added, “Planview Tasktop Viz offers clear, simple visibility by enabling data-driven decisions, uncovering bottlenecks that result in delays in planning, and gaining actionable items upfront.”
(Source – Business Wire)
Headquartered in Austin, Texas, Planview is a connected work platform from portfolio planning to delivery. The company is committed to its mission which is to build the future of connected work, from ideas to impact. It supports its customers from the need to speed, from passion to progress, and from overhead to optimization, accelerating the achievement of what matters most to an organization. The comprehensive Planview platform and enterprise success model empower clients to provide innovative, competitive products, services, and customer experiences.
EMERGING TECHNOLOGY, CYBERSECURITY
Prnewswire | May 05, 2023
IDEMIA Identity and Security (I&S) North America, the leading provider of biometrics and secure identity solutions to federal, state, and local government agencies, is pleased to announce they have been awarded a contract by the Transportation Security Administration (TSA) for the next generation Credential Authentication Technology (CAT). The contract ceiling is $128M with a period of performance over seven years.
CAT is utilized by the TSA to ensure ID authentication* and confirm boarding pass and Secure Flight pre-screening status at the airport security checkpoint. CAT provides enhanced fraudulent ID detection capabilities while confirming the identity and flight information of travelers and is currently being utilized at approximately 200 airport locations nationwide. The next generation CAT, CAT 2, enhances security screening and enables a touchless experience through biometric technology that includes face match ** and acceptance of digital identity credentials, like Mobile ID.
"CAT is one of the most innovative programs we have worked on at IDEMIA, and we are proud to continue building robust identity validation and verification technologies for our partners at TSA, supporting our Homeland's security mission," said Donnie Scott, CEO, IDEMIA I&S North America. "The CAT program is setting the standard for us in our public private partnerships across government. Earlier this year we delivered our 2,054th CAT unit to the TSA, a milestone truly representing our team's hard work, dedication and subject matter expertise in identity and security."
IDEMIA I&S North America has also been an authorized TSA PreCheck® enrollment provider since 2013, processing enrollments for over 17 million travelers to date.
About IDEMIA Identity and Security (I&S) North America
IDEMIA I&S North America is a leader in identity security and authentication services to governments and private companies, operating in North America. Our mission is to Unlock the World, Make It Safer - helping people access what matters most, more quickly, more safely, and more securely, in both the physical and the digital worlds. Our best-in-class technology helps to authenticate and secure physical and digital transactions. IDEMIA is recognized by the National Institute of Standards (NIST) as a top-ranking participant in the Institute's passenger facilitation simulation testing as well as in its regular Face Recognition Vendor Test (FRVT) rankings, reinforcing the trustworthiness and reliability of IDEMIA's facial recognition solutions for government and consumers alike.