Government Finance
PR Newswire | January 09, 2024
Springbrook, the country's leading developer of cloud-based government software, closed 2023 with a record number of 68 municipalities selecting Cirrus, the company's flagship financial ERP. Cirrus is a fully integrated, Multi-Tenant, SaasS based platform designed from the ground up specifically for local government agencies.
"Cirrus reflects what our customers need and have asked for. We address growing concerns with ransomware attacks by offering the highest level of cybersecurity available. We provide citizens and the next generation of personnel with a seamless, modern, interactive experience. And we know from the pandemic that a changing workforce needs anytime, anywhere browser-based access. Our growth reflects the trend of moving away from home brewed or dated technologies to solutions that are designed for today's challenges," says Robert Bonavito, CEO of Springbrook Software.
Springbrook's Cirrus provides a full suite of integrated solutions including finance, payroll, utility billing, advanced budgeting, and human resources. Springbrook also offers the most advanced payment solution available, through Xpress Bill Pay, as well as Tableau, the number one visual analytics tool in use by government agencies. 2023 also marked the roll out of several new technologies including an AI driven ChatBot, Allocation Billing for water utilities with tiered billing structures, and efficient online and mobile Payroll Time Clocks and Time Sheets.
About Springbrook Software:
Springbrook Software is the country's leading cloud-based finance and administration software provider designing solutions specifically for small to medium sized local government agencies. Nearly 2800 cities, towns and districts from coast to coast use our suite of modern, high-performance solutions to manage their finances, payroll, utility billing and collect citizen payments. Springbrook is headquartered in Portland, Oregon with regional presence in over 40 states, and seven countries internationally.
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Infrastructure
GlobeNewswire | January 08, 2024
Verizon today announced it is providing 5G coverage to the U.S. Army Garrison Hawaii’s Helemano Military Reservation (HMR) via a newly constructed cell tower, nicknamed the “Dragon Tower,” as part of a $1 million project. Military families, personnel and visitors at HMR will experience improved wireless coverage and enhanced network services.
“The main purpose of our partnership with Helemano is to improve quality of life for base personnel,” said Marta Lacroix, associate vice president of network engineering. “The strength of the Verizon network will help ensure that those serving our country have continuous access to emergency services and can readily connect with their loved ones.”
Located approximately five miles north of the town of Wahiawa, HMR offers military housing for approximately 2,000 service members and families stationed at Schofield Barracks and Wheeler Army Airfield. HMR is a remote location that has historically struggled with connectivity. The new cell tower and accompanying 5G coverage aims to redress that precedent.
"As professionals in the field of communication, we understand the significance of this cell phone tower in our close-knit community,” said 307th Expeditionary Signal Battalion – Enhanced Commander Lt. Col. Izabella Lundy. “This infrastructure will provide our soldiers and their families with reliable access to emergency services, facilitate communication with loved ones, and support the seamless conduct of daily business.”
The tower is located on the grounds of the Army and Air Force Exchange Service’s (Exchange) HMR Express store in the center of the reservation and is nicknamed “Dragon” for the 307th ESB-E, which is headquartered on HMR.
The military community and Exchange celebrated the milestone with a ceremony attended by Brig. Gen. Kevin Meisler, 311th Signal Command (Theater) commanding general; Command Chief Warrant Officer Robert Christian, 311th Signal Command (Theater); Command Sgt. Maj. Jonathan DeHart, 311th Signal Command (Theater); Col. Andrew Brokhoff, 516th Signal Brigade commander; Command Sgt. Maj. Dominique Davis, 516th Signal Brigade; Lt. Col. Izabella Lundy, 307th ESB-E commander; Chief Warrant Officer 2 Nathaniel Floyd, Jr., 307th ESB-E data operations warrant officer; and Command Sgt. Maj. Mahoma Tello, 307th ESB-E.
Joining from the Exchange were Col. Jason Beck, Pacific Region commander; Sgt. Maj. Generose Green, Pacific Region senior enlisted advisor; Michael Ryan, Hawaii Consolidated general manager; and William Earls, connectivity telecom program specialist.
The Dragon tower is one of 13 new or in-progress cell towers from the Exchange to bring expanded connectivity and reliability to military communities throughout USAG Hawaii.
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Government Business
GlobeNewswire | January 09, 2024
On Monday January 8th, Godspeed Capital Management LP (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology-focused private equity firm, announced the acquisition of Cyberspace Solutions, LLC (“CSS” or “the Company”), a provider of all-source intelligence gathering, analysis, and systems development solutions for national security missions, by its intelligence, AI/ML, and Data Analytics platform, Crimson Phoenix. CSS was formerly owned by Illuminate Operations, Inc.
Chertoff Capital, LLC, the investment banking subsidiary of The Chertoff Group, served as the exclusive investment banking advisor to Illuminate Operations, Inc.
TRANSACTION DETAILS
CSS is a provider of all-source intelligence gathering, analysis, and systems development solutions, including data and analytical support services for the Intelligence Community and U.S. Special Operations Command. CSS combines decades of intelligence expertise to deliver actionable insights that enable its national security customers to make fast and informed decisions. The Company now joins with Crimson Phoenix to support its intelligence strategy and national security objectives.
Jason Kaufman, Chertoff Capital president said, “CSS is a trusted provider of all-source intelligence data and analytical support services for national security missions. The acquisition of CSS by Crimson Phoenix not only optimizes portfolio value for our client but also propels the Company towards a future marked by innovation and market leadership. We are pleased to have served as the trusted advisor to Illuminate and look forward to Crimson Phoenix’s future success.”
Ryan Hoffman, Chertoff Capital principal said, “CSS aligns perfectly with Crimson Phoenix’s national security objectives. It brings a talented workforce and coveted customer relationships to the platform. This transaction reflects our dedication to delivering strategic value for mission-oriented companies. We are thrilled to have advised Illuminate on the sale and are excited for Crimson Phoenix’s promising future.”
Tameika Hollis, CEO of Illuminate Operations, Inc., said, “Chertoff Capital provided excellent advice throughout the entire transaction process. They were instrumental in crafting a clear description of the value proposition of the business being divested, identifying the relevant set of potential suitors, soliciting interest, shepherding the process of selecting the acquirer, navigating the challenges of bringing the transaction to a successful conclusion, and ultimately finding a great new home for the business. We appreciate their hard work and wise insights.”
About Chertoff Capital
Chertoff Capital is the investment banking subsidiary of The Chertoff Group, a specialized advisory firm that helps organizations achieve their business and security objectives in a complex risk environment. As an industry leading investment bank serving high growth, mission-focused companies in the defense technology, government services and cybersecurity markets, Chertoff Capital provides clients with a highly differentiated advisory offering that brings together transaction expertise and unparalleled business strategy insights. Chertoff Capital professionals have advised on well over 100 transactions over the last 20 years. Chertoff Capital is an SEC registered broker dealer and a member of FINRA.
About Cyberspace Solutions
Cyberspace Solutions, LLC, is a leading provider of all-source intelligence, gathering, analysis, and systems development solutions for Intelligence Community, Defense, and Law Enforcement customers. CSS customizes solutions and provide actionable intelligence for targeting and other vital mission priorities.
About Crimson Phoenix
Crimson Phoenix is a leading digital, data, and intelligence analysis and solutions platform designed to support the critical mission requirements of the U.S. Intelligence Community and U.S. Special Operations Command. Headquartered in the DC/Virginia area, Crimson Phoenix offers a differentiated suite of mission-critical capabilities and solutions in artificial intelligence & machine learning, cybersecurity, digital and data enablement, software development, and intelligence targeting and analysis.
About Godspeed Capital Management
Godspeed Capital is a lower middle-market defense & government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations.
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Cybersecurity
PR Newswire | January 08, 2024
Resecurity (USA), a global cybersecurity solutions provider protecting Fortune 500 and government agencies worldwide, proudly announces the successful completion of its official registration process with the National Cybersecurity Authority (NCA) in Saudi Arabia. This achievement solidifies Resecurity's status as a registered and authorized cybersecurity service provider within the Kingdom. Resecurity has been added to the list of accredited cybersecurity service providers on the official WEB-site of the NCA under number 248. Resecurity's comprehensive portfolio of services is tailored to government and law enforcement organizations, making them a trusted partner in the field of cybersecurity fully compliant with existing regulations and legislation.
On April 25, 2022, the NCA issued a public call to entities providing cybersecurity services, solutions, or products in Saudi Arabia to register their data through the NCA's website. The initiative, which became a mandatory requirement for relevant entities starting August 1, 2022, aims to enhance the overall cybersecurity landscape in the Kingdom and foster a secure and reliable cyberspace conducive to growth. Separately, the NCA indicated that this requirement enhances the efforts made in developing and regulating the cybersecurity market and industry in the Kingdom of Saudi Arabia, and outlined the same precedes the issuance of necessary regulatory licenses to practice some activities related to the sector during the coming period.
Upholding the Best Cybersecurity Standards
Resecurity, in alignment with the NCA's vision, has successfully navigated the registration process, showcasing its commitment to upholding the highest standards of cybersecurity. As a registered service provider, Resecurity is well-poised to contribute to the development of the Kingdom's cybersecurity market.
"Completing the official registration with the National Cybersecurity Authority is a testament to Resecurity's unwavering commitment to cybersecurity excellence and compliance. Our mission has always been to empower organizations with advanced security solutions, and this milestone underscores our dedication to fortifying the digital resilience of Saudi Arabia. We are excited to collaborate with the Kingdom in building a robust and secure cyberspace for its citizens and businesses." - Gene Yoo, CEO of Resecurity shared his perspective on this achievement:
"Our journey in the Kingdom of Saudi Arabia is marked by this significant achievement. We are excited about the opportunity to contribute to the Kingdom's cybersecurity landscape and work collaboratively towards a digitally secure future in scope of Saudi Vision 2030." - said Mohammed Alghamdi, Managing Director of Resecurity in the Kingdom of Saudi Arabia:
NCA's Vision for a Secure Digital Future
The NCA's decision to enforce the registration requirement is rooted in its commitment to creating a safe and reliable Saudi cyberspace. By establishing a mandatory registration process, the NCA aims to ensure that entities providing cybersecurity services contribute to the overall security posture of the Kingdom.
By completing the official registration with the NCA, Resecurity reinforces its commitment to delivering cutting-edge cybersecurity solutions. As a registered service provider, Resecurity is now better equipped to contribute to the advancement of Saudi Arabia's cybersecurity infrastructure and assist businesses in navigating the constantly evolving threat landscape.
Moving Forward Together
Resecurity looks forward to collaborating with the National Cybersecurity Authority and fellow registered entities in creating a secure digital environment that facilitates growth, innovation, and prosperity. Last year, Resecurity announced the appointment of Mohammed Alghamdi as the Managing Director for its operations in the Kingdom of Saudi Arabia (KSA). With a distinguished professional career spanning government relations management and successful collaborations with both private and public sector organizations, Mr. Alghamdi is well-equipped to lead Resecurity's strategic initiatives and business development in the region. Mr. Alghamdi's career includes notable tenures at prestigious global consulting firms, including Booz Allen Hamilton, Oliver Wyman, and Bain & Company. He specializes in addressing clients' most critical issues: strategy, marketing, organization, operations, technology, transformation, digital, advanced analytics, corporate finance, mergers & acquisitions (M&A), and sustainability across all industries and geographies. As the Managing Director for Resecurity in KSA, Mr. Alghamdi will play a pivotal role in overseeing government affairs and mission-critical operations specifically relevant to the national security, aerospace and defense (A&D) verticals.
About Resecurity
Resecurity, Inc. (USA) is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence. Known for providing best-of-breed data-driven intelligence solutions, Resecurity's services and platforms focus on early-warning identification of data breaches and comprehensive protection against cybersecurity risks. Founded in 2016, it has been globally recognized as one of the world's most innovative cybersecurity companies with the sole mission of enabling organizations to combat cyber threats regardless of how sophisticated they are. Most recently, Resecurity was named as one of the Top 10 fastest-growing private cybersecurity companies in Los Angeles, California by Inc. Magazine. An Official Member and a Gold Sponsor of InfraGard National Members Alliance (INMA), AFCEA, NDIA, SIA, FS-ISAC and the American Chamber of Commerce in Saudi Arabia (AmChamKSA), Singapore (AmChamSG), Korea (AmChamKorea), Mexico (AmChamMX), and UAE (AmChamDubai).
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