Mergers and Acquistions News
Categories: Media & Information Services
February 26th 2009, 13:55PM
The Shawmark Group, a private equity company, has acquired Aspiration Software for an undisclosed fee.
Shawmark specifically targets technology firms which serve the US government - this is the third such investment from the group.
Debt to equity in the deal was roughly a fifty-fifty split, according to the Shawmark managing director.
Aspiration serves government agencies, providing systems integration, database services, network engineering, software and multimedia technology.
Shawmark says it was attracted to Aspiration due to the high level of clearance afforded to the software firm's personnel, overcoming even the highest barriers to entry in the profession.
Charles Asper, the company founder, first put up Aspiration for sale to get his work/life balance back in trim.
He explains: "I was working 80 hour weeks.
"My primary reason for selling my business was so I could focus more on my children."
Mr Asper now holds a minority stake in the software business and will stay on for five years with the firm.
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