Reston-based firms announce merger
Two Reston-based technology and management consulting firms, TeraThink Corp. and Dominion Consulting, are merging.
Under an agreement announced Thursday, the combined company will operate under the TeraThink name. It will have annual revenue of $80 million serving federal defense and civilian government agencies.
TeraThink will remain a privately held corporation. Financial details of the merger were not disclosed.
Paul Lombardi, TeraThink’s CEO, will become chairman of the board of directors as a result of the deal. “This merger brings together two like-minded companies, and their employees, to better serve and transform the missions of our customers,” he said in a statement.
Dan Maguire, the president of Dominion, will become the new CEO of TeraThink, and Tim Spadafore, Dominion’s COO, will serve as the president and chief operating officer.
Houlihan Lokey acted as exclusive financial adviser to TeraThink while KippsDeSanto served as exclusive adviser to Dominion.