Fredericksburg firm involved in three-company merger
Fredericksburg-based EOIR Technologies has merged with two other firms to form Polaris Alpha, a technology company with 1,100 employees and annual projected revenue of more than $250 million.
The merger was announced by Arlington Capital Partners, a Chevy Chase, Md.-based private equity firm. EOIR Technologies, is an Arlington Capital portfolio firm.
The other two firm involved in the merger are Intelligent Software Solutions of Colorado Springs, Colo., and Proteus Technologies, based in Annapolis Junction, Md.
Arlington Capital describes Polaris Alpha as a provider of “mission-critical technology, software and solutions” to defense and intelligence community customers.
“Polaris will fill the void between niche players and prime contractors to deliver agile, sophisticated solutions to a growing number of government customers disillusioned with the traditional options available to them,” Michael Lustbader, a managing partner at Arlington Capital, said in a statement. “Polaris is a byproduct of the infusion of innovation into the national security sector and is contractually well-positioned to capitalize on this market opportunity.”
Terms of the transaction were not disclosed.
In addition to Fredericksburg, Colorado Springs and Annapolis Junction, the newly formed company has offices in Alexandria and Aberdeen Proving Ground in Maryland.