EMERGING TECHNOLOGY
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.
Read More
GOVERNMENT FINANCE
PR Newswire | May 18, 2023
OneTrust, the market-defining leader for trust intelligence, introduces OneTrust Artificial Intelligence (AI) Governance, a comprehensive solution designed to help organizations inventory, assess, and monitor the wide range of risks associated with AI. As organizations use AI and machine learning (ML) to process large amounts of data and drive innovation, AI Governance provides visibility and control over data used and risks generated by AI models.
According to Gartner, "Success and scaling of AI projects require leaders to address strategies and methods related to fairness, transparency, explainability, reliability, privacy, and security."1 As the use of AI and machine learning becomes more widespread, it is essential for organizations to address the privacy, ethical, and societal risks associated with these technologies. With AI Governance, organizations can embed data ethics, privacy, and security practices by default into the use of AI across their business.
"Responsible AI is not an option, but a necessity in today's business landscape," said Blake Brannon, Chief Product and Strategy Officer at OneTrust. "AI Governance provides a comprehensive solution for managing the unique risks associated with AI, including privacy, ethical, compliance, and operational risks. Using our product, organizations can automate record keeping and risk management, ensuring transparency, fairness, and accountability in their AI systems. By implementing responsible AI practices, companies can build trust with customers, regulators, and society at large, and position their business for success in the AI-driven future."
With AI Governance, compliance teams and data scientists can better understand data use and classification, evaluate the risks, and demonstrate compliance with emerging global requirements to ensure AI is used ethically and responsibly:
Inventory: Organizations can centrally view and manage AI projects, models, and data sets both internally developed and sourced from third parties. AI Governance establishes relationships across data sets and AI models to trace the path of data from its origin.
Assess risk: Users can assess AI projects against global laws and frameworks, including the NIST AI Risk Management Framework (RMF), OECD AI Principles, and more. AI Governance, along with OneTrust Data Discovery & Governance, connects to structured and unstructured sources of data to automatically discover and classify sensitive and personal data that may drive algorithmic bias or privacy risk. Regulatory intelligence helps automate compliance workflows and risk management, and automatically generate required control mitigations and compliance documentation such as conformity assessments.
Monitor: AI Governance integrates with existing model registries and MLOps tooling to detect AI model use and changes, and sync with a centralized inventory. Teams can continually evaluate models and training data for drift, bias, fairness, accuracy, and quality with in-app alerts.
Only OneTrust provides the powerful combination of privacy and risk management solutions, built-in regulatory guidance, data discovery and classification, and AI risk management framework templates to manage the unique and broad-reaching risks posed by AI systems. The solution leverages OneTrust's deep experience in data privacy and governance, and robust tools for managing risk and record keeping for audit, compliance, and proactive trust management.
OneTrust AI Governance will be available to select, qualifying customers through the AI Governance Early Access Program (EAP). This program offers an opportunity to get an early look at the solution and provide feedback to shape its development.
About OneTrust
OneTrust is the trust intelligence cloud platform organizations use to transform trust from an abstract concept into a measurable competitive advantage. Organizations globally use OneTrust to enable the responsible use of data while protecting the privacy rights of individuals, implement and report on their cyber security program, make their social impact goals a reality, and create a speak up culture of trust. Over 14,000 customers use OneTrust's technology, including half of the Global 2,000. OneTrust currently ranks #24 on the Forbes Cloud 100 list of top private cloud companies in the world and employs over 2,000 people in regions across North America, South America, Asia, Europe, and Australia.
Read More
EMERGING TECHNOLOGY, CYBERSECURITY
ECS | March 21, 2023
ECS, a leader in advanced technology, science, and digital transformation solutions, has won a five-year $19M contract with the Defense Manpower Data Center (DMDC) within the U.S. Department of Defense (DoD). A leader in DoD identity management, the DMDC maintains DoD databases, supports the information requirements of the Office of the Under Secretary of Defense for Personnel & Readiness, and oversees DoD personnel programs and research.
ECS will support the digital transformation of the DMDC by optimizing existing instances of ServiceNow ― the digital workflow management platform ― and ensuring the success of new implementations. By providing operations and maintenance services, architectural design, development, and implementation services, ECS will bring new capabilities to the DMDC and transform legacy IT applications.
ECS adds this DMDC project to a lengthy list of successful ServiceNow deployments it has undertaken for the DoD and federal civilian clients. These include: the Army, Air Force, Space Force, Defense Information Systems Agency, several DoD Fourth Estate agencies, Department of Commerce, Department of Homeland Security, Department of the Treasury, U.S. Postal Service, and Environmental Protection Agency.
“ECS is excited to support the critical mission of the DMDC,” said John Heneghan, president of ECS. “We’ll use our ServiceNow expertise to help the agency reduce workflow complexity, boost productivity, and offer improved services to uniformed service members, veterans, and families around the world.”
“As a ServiceNow Elite partner, ECS leverages the full power of the platform to support the DMDC’s digital transformation,” said Martin Burke, vice president of Integrated Solutions at ECS. “ECS will help DMDC reengineer and modernize every one of its business and IT processes, using the powerful features and flexibility of the ServiceNow platform.”
About ECS
ECS, ASGN’s federal government segment, delivers advanced solutions in cloud, cybersecurity, data and artificial intelligence (AI), application and IT modernization, science, and engineering. The company solves critical, complex challenges for customers across the U.S. public sector, defense, intelligence, and commercial industries. ECS maintains partnerships with leading cloud, cybersecurity, and AI/ML providers and holds specialized certifications in their technologies. Headquartered in Fairfax, Virginia, ECS has more than 3,800 employees throughout the United States.
About ASGN Incorporated
ASGN Incorporated (NYSE: ASGN) is a leading provider of IT services and professional solutions, including technology, creative, and digital, across the commercial and government sectors. ASGN helps leading corporate enterprises and government organizations develop, implement, and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions.
Read More