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FCW : September 30, 2015
14 20 September 30, 2015 FCW.COM 20 15 Federal List companies will have IT capabilities such as cybersecurity, software development, cloud and IT infrastructure. Those areas will represent about three-quarters of revenues, Lawrie said. Other revenue sources include domain-specific professional services such as intelligence analysis, bioinformatics and health sciences, energy and environmental consulting, and enterprise planning and resource management. A market in transition The CSC/SRA deal is one of the most transformative of the several transformative acquisitions that have hit the market in recent months, particularly for pure IT companies. We’ve seen deals by Engility and PAE add scale and new capabilities through acquisitions. We’ve seen several other deals in which companies were acquired by private equity groups looking for a platform as the government services market heads deeper into a period of consolidation. IputCSCandSRAatthetopof the heap because of the struggles both companies have gone through in recent years. In many ways, their combination validates the value of what they’ve been doing. SRA also is a legendary company in the market because of Volgenau, one of the pioneers of the government services business. He founded SRA in 1978 and grew it to nearly $2 billion in revenue and a successful initial public offering. The government IT services market is going through a period of transition. There is overcapacity. The customer is hyper-focused on cost because of budget and resource constraints. There is also a revolution in technology being driven by the adoption of cloud and managed services, which is breaking down traditional business models. Companies are scrambling to adjust, survive and find a way for ward. The CSC/SRA deal will not be the last big one to hit the market. Still to come is how Lockheed Martin will divest itself of its IT business. I’ve also heard rumors that major divestitures by other companies are in the works. In many ways, companies like Lockheed Martin are trying to move away from the IT services business while others are embracing it, particularly when they have the cost model in place to make it profitable. Lawrie and CSC believe they have the cost model to make being a pure- play IT services company work for its employees, customers and investors. Right now, they have the numbers to back it up. n 14 rising stars in federal IT Each year, FCW recognizes individuals who are in the first 10 years of their federal IT careers yet are already having an outsized impact in the community. These women and men are not only making a difference today — they are put forth by their peers and managers as the likely leaders of tomorrow. Perhaps unsurprisingly in a year dominated by data breaches, this year’s class of Rising Stars is weighted heavily toward cybersecurity. But other innovators are working on everything from acquisition to website development. Full profiles will run in an upcoming issue of FCW, and the winners will be honored in person at the Oct. 14 GCN Awards gala. Until then, here’s a quick preview of the 2015 Rising Stars — 14 people you’ll be hearing about for years to come: CSC/SRA Deal 0930fcw_012-028.indd 20 9/9/15 10:24 AM
September 15, 2015