“GovExec has made another purchase as part of a tenacious mergers and acquisitions strategy, buying Arlington federal contract intelligence firm GovTribe in a deal announced Wednesday.”
“The move provides the D.C. media company — the owner of digital publications Government Executive, NextGov, Defense One and others — with a subscription-based market intelligence firm focused exclusively on the business federal contracting. The terms of the acquisition, which closed Tuesday, were not disclosed.”
“The purchase marks the fifth M&A deal that GovExec has secured since its March 2020 spinout from Atlantic Media Group, funded by a controlling stake investment from Chicago-based private equity firm Growth Catalyst Partners.”
“While GovExec’s early acquisitions focused on expanding its offerings related to state government business — it bought San Diego-based The Atlas for Cities (The Atlas) and City & State New York (CSNY), which was later expanded to include a Pennsylvania-based publication — the company has more recently turned its attentions towards companies with federal government data and contractor opportunity tools…”
“GovExec CEO Tim Hartman told Washington Business Journal that those moves, and now the addition of GovTribe, build on a strategy of acquiring contracting market research capabilities that are more user-friendly than what is provided by the federal government…” Read the full article here.
Source: GovTribe, one of federal contractors’ favorite procurement tracking tools, has been sold – By Carten Cordell, August 11, 2021. Washington Business Journal.
