IST Research and Two Six Labs Combine to Form High-Growth Government Technology Platform
February 01 2021 - 12:15PM
IST Research and Two Six Labs announced today they have both been
acquired by an affiliate of global investment firm The Carlyle
Group (NASDAQ: CG), and have combined to form Two Six Technologies,
Inc., a high-growth, technology-focused provider to the
Intelligence Community, Department of Defense, and other critical
U.S. national security customers.
The combination of these two companies brings exciting new
capabilities to Two Six Technologies’ customers. The combined
enterprise offers a family of operationally deployed products
(Pulse, IKE™, SIGMA™, 8Wire™, and others), a robust suite of sole
source contract vehicles with more than $400M of combined contract
ceiling, deep integration with the Federal Research &
Development Community, and a global operational footprint that
includes a technical presence in more than 40 countries, coupled
with native proficiency in more than 20 languages.
Two Six Technologies will be led by CEO Joe Logue, previously an
Executive Vice President at Booz Allen Hamilton, where he led the
firm’s Defense and Intelligence business. Larry Prior, who has
served in numerous leadership positions in government and private
industry, including most recently as the CEO of CSRA Inc. until its
successful sale to General Dynamics, will serve as Chairman of the
Board.
IST Research is a leading provider of open source data
collection, population engagement, and content discovery solutions
primarily for U.S. Government customers. IST Research provides
access to hard-to-reach populations at scale through a proprietary
technology platform, which enables customers to collect open source
information and engage populations across various media channels.
Ryan Paterson, the founder and CEO of IST Research will remain with
the combined business as Chief Growth Officer.
“We could not be more excited about the combination of this
team’s capabilities,” said Ryan Paterson. “Joining forces with
another team that shares our passion for applied research and
operational excellence was an easy decision for us; this merger is
definitely a case where 1 + 1 is far greater than 2.”
Two Six Labs is a leading provider of cybersecurity and advanced
technology solutions for the U.S. Government, including customers
within DARPA, U.S. Cyber Command, the Department of Homeland
Security and the broader Department of Defense and Intelligence
Community. Two Six Labs researches, designs and deploys innovative
technology solutions to address complex national security
challenges. Chris Greamo, previously President and CEO of Two Six
Labs, will serve as the Chief Technology Officer of the combined
enterprise.
“Two Six and IST Research have collaborated successfully for
years, and personally I have worked with Ryan for over a decade.
IST Research and Carlyle are ideal partners as we embark on the
next chapter of Two Six’s journey, evolution, and growth,” said
Chris Greamo. “The IST and Carlyle teams share our long-standing
commitment to building an industry-leading culture and team,
developing innovative technology solutions that serve critically
important missions of national security. We look forward to
combining Two Six’s products and capabilities with IST’s to further
enhance and accelerate our team’s impact to our customers and the
nation.”
Joe Logue said, “IST Research and Two Six Labs are outstanding
strategic and cultural fits for the platform we are building. IST’s
leading Pulse technology platform and Two Six’s world-class
research and development capabilities and proven history of
successfully transitioning research projects to fielded,
operationalized solutions will serve as the foundation for what we
are building at Two Six Technologies.”
“We are very excited to partner with Joe Logue and the broader
Two Six Technologies team to build a platform focused on solving
critical national security problems through unique technology
solutions,” said Dayne Baird, a Managing Director at The Carlyle
Group. “Two Six Labs and IST Research both have strong cultures
focused on innovation, customer mission success, and attracting the
best talent. We look forward to supporting the continued growth of
the combined business.”
Raymond James & Associates, Inc. acted as the exclusive
financial advisor for both IST Research and Two Six Labs in
connection with their respective transactions. King & Spalding
LLP acted as legal advisor to Two Six Labs, while Holland &
Knight LLP acted as legal advisor to IST Research. Latham &
Watkins LLP acted as legal advisor to Carlyle in connection with
the transactions.
About Two Six TechnologiesTwo Six Technologies
is a high-growth company providing cybersecurity and advanced
technology solutions for national security customers. The Company
delivers R&D, innovation, productization and implementation
expertise in cyber, data science, mobile, microelectronics and
information operations. Additionally, the Company offers a family
of operationally deployed products including Pulse, IKE™, SIGMA™,
8Wire™ and others. Major customers include DARPA, Department of
State, U.S. Cyber Command, Department of Homeland Security and the
broader Department of Defense and Intelligence Community.
Headquartered in Arlington, Virginia, Two Six Technologies has over
285 employees and a global operational footprint that includes a
technical presence in more than 40 countries, coupled with native
proficiency in more than 20 languages.
More Information and Media
Contactwww.istresearch.comwww.twosixlabs.com
David Leach(703) 782-9473David.Leach@twosixlabs.com
About The Carlyle Group The Carlyle Group
(NASDAQ: CG) is a global investment firm with deep industry
expertise that deploys private capital across three business
segments: Global Private Equity, Global Credit and Investment
Solutions. With $230 billion of assets under management as of
September 30, 2020, Carlyle’s purpose is to invest wisely and
create value on behalf of its investors, portfolio companies and
the communities in which we live and invest. Carlyle employs more
than 1,800 people in 30 offices across six continents. Further
information is available at www.carlyle.com. Follow Carlyle on
Twitter @OneCarlyle.
MediaBrittany Berliner+1 (212)
813-4839brittany.berliner@carlyle.com
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