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.
Prnewswire | April 25, 2023
Unqork, the leading Codeless as a Service platform, today announced that it has achieved Authorization to Operate (ATO) on the Federal Risk and Authorization Management Program (FedRAMP®) Marketplace. Unqork enables customers, now including the Federal Government, to democratize technology and free themselves from the pitfalls of legacy code, unlocking innovation and speed to market with enterprise grade performance, scale, and security. The Department of Health and Human Services is the first federal agency to use Unqork for Government from the FedRAMP Marketplace to digitize payroll processing within the agency's Office of the Assistant Secretary for Health (OASH).
Unqork is a new way for governments and enterprises to build and run applications ten times faster and 65% cheaper by replacing language – legacy code – with data. Through a universal data definition, Unqork's codeless engine powers beautiful front ends, scalable APIs, secure and performant back-ends, and everything in-between for the most stringent requirements of the Federal government. Unqork's customers include the largest regulated industries including banks, asset managers, insurance companies, state and local agencies, and healthcare providers.
"We're thrilled to have achieved FedRAMP authorization so quickly in the five short years since Unqork was founded – a major testament to the security standards of the Unqork platform," said Gary Hoberman, Founder and CEO, Unqork. "Now that Unqork's codeless platform has received authorization on the FedRAMP marketplace, federal agencies have access to digital solutions that fuel their modernization efforts. We are excited to bring our codeless technology to the Federal agencies and team with them to unlock innovation and migrate legacy systems to the cloud."
Unqork is the leading Codeless as a Service platform that helps leading organizations build, deploy and manage complex software without having to think about code. Unqork created the codeless architecture standard – the future of software development that frees the world's largest enterprises from the pitfalls of legacy code and allows them to focus on innovation to drive business and maintain a competitive edge. More than one third of Unqork's corporate customers are in the Fortune 500, with a customer roster that includes Goldman Sachs, Marsh, Maimonides Medical Center and the U.S. Department of Health and Human Services.
EMERGING TECHNOLOGY, INFRASTRUCTURE
Businesswire | May 10, 2023
Nyriad®, provider of cutting edge GPU storage technology, and Carahsoft Technology Corp., The Trusted Government IT Solutions Provider®, today announced a partnership. Under the agreement, Carahsoft will serve as Nyriad’s Master Government Aggregator®, making the company’s UltraIO™ storage system available to the Public Sector through Carahsoft’s reseller partners, NASA Solutions for Enterprise-Wide Procurement (SEWP) V, Information Technology Enterprise Solutions – Software 2 (ITES-SW2), National Cooperative Purchasing Alliance (NCPA), and OMNIA Partners contracts.
In 2022, the global Government IT spending amounted to over 551 billion U.S. dollars, which is an increase of nine percent compared to 2021, and it is expected to increase even more in 2023 to 589 billion U.S. dollars worldwide. The increase in IT spending is driven by a variety of factors, including the need to modernize outdated systems, improve cybersecurity, and enhance digital services and capabilities for internal and external users. As IT spending in the government sector continues to grow, there is a critical need for modern and efficient storage solutions that can meet the demands of data-intensive applications, protect against cyber threats, and facilitate the digital transformation of government services. The Nyriad UltraIO storage system delivers the ideal solution to address these needs and enable government agencies to improve their operations and services.
The Nyriad UltraIO storage system will enable improved capabilities across several use cases, such as:
High-performance computing (HPC) - Government agencies and academic institutions rely on high-performance computing to perform complex simulations, modeling, and analysis. The UltraIO storage system enables performant, cost efficient storage access, and ingest for large capacity points of HPC results inside of a single array. Additionally, with block-level erasure codes, the storage system provides a high degree of system resiliency, ensuring data integrity and protection against potential data loss.
Backup and recovery - Government agencies and academic institutions must be prepared for unexpected events, such as natural disasters or cyberattacks, that can result in data loss. The UltraIO storage system’s combined GPU + CPU architecture enables parallel read and write capabilities to perform backup and restore operations with exceptional performance.
Active archive - Government agencies and academic institutions archive their data to preserve records for historical, legal, and regulatory purposes. This data may include records of legislative proceedings, court cases, financial transactions, and other important documents. As data sets grow, the value of the analytical insights the data provides has grown as well. We access the data, looking for trends and insights that can be advantageous for good decision making. Enhanced data access beyond normal archival capabilities is needed for this. With its high throughput, fast retrieval, and high data protection capabilities, the UltraIO storage solution is the next architectural step for implementing an active archive. This is cost efficient storage that allows performant access to warm tier archive data.
Video and imaging - Government agencies and academic institutions produce and store large amounts of media content, such as videos, images, and audio files. Because these agencies use video surveillance systems as a security measure to monitor public areas, protect critical infrastructure, and ensure public safety, a storage system with fast data ingest and playback capabilities or analytics processing is an essential enabler of quick incident response. In fact, the Nyriad UltraIO storage system can ingest video streams from as many as 90,000 cameras simultaneously, while providing highly resilient large-scale storage capacity. The UltraIO storage system’s modern, GPU-accelerated storage also facilitates video production tasks such as 8K resolution or higher video editing without the need to transcode, create proxies, or copy files across the network – enabling agencies to work more efficiently, saving time and money.
“Partnering with Nyriad supports our mission to simplify the technology procurement process and position our channel partners for success with the most innovative and disruptive technologies,” said Michael Adams, Director of Carahsoft's AI/ML Solutions Portfolio. “We look forward to delivering Nyriad’s UltraIO data storage system to joint customers through our reseller partners to accelerate and transform agencies’ IT, leading to faster and more powerful business outcomes.”
"The strategic partnership with Carahsoft is a key milestone for Nyriad's channel strategy, allowing us to extend our reach and deliver the exceptional performance, resilience, and efficiency benefits of our UltraIO solution to a wider range of government agencies and academic institutions," said Andrew Russell, CRO, Nyriad. "This partnership not only expands our market presence but also underscores our commitment to providing reliable and innovative storage solutions that can help accelerate digital transformation for our customers."
Carahsoft Technology Corp. is The Trusted Government IT Solutions Provider®, supporting Public Sector organizations across Federal, State and Local Government agencies and Education and Healthcare markets. As the Master Government Aggregator® for our vendor partners, we deliver solutions for Cybersecurity, MultiCloud, DevSecOps, Big Data, Artificial Intelligence, Open Source, Customer Experience and more. Working with resellers, systems integrators and consultants, our sales and marketing teams provide industry leading IT products, services and training through hundreds of contract vehicles. Visit us at www.carahsoft.com.
Nyriad® has unleashed the power and speed of GPUs combined with CPUs to revolutionize how data is stored, accessed and managed. Nyriad’s UltraIO™ software-defined data storage system enables massive amounts of data to be safely and intelligently managed by a single storage platform with a low TCO, while delivering exceptional performance, resiliency and efficiency. With Nyriad, organizations can enhance agility, accelerate innovation and gain the competitive advantage necessary to drive business growth and success. To learn more, please visit: https://www.nyriad.io/.