McLean-Based C2 Solutions Group buys out Joint Venture

C2 Solutions Group, Inc. of McLean, Va., today announced that it has acquired all of the interests formerly held by Reston, Va.-based Revolent Technologies Inc., in C2-Revolent, a joint venture.

C2 Solutions Group Inc. "> of McLean, Va., today announced that it has acquired all of the interests formerly held by Reston, Va.-based Revolent Technologies Inc. in C2-Revolent. Details of the acquisition between the two privately-held companies were not announced.

C2-Revolent was a joint venture formed by C2 and Revolent for the purpose of bidding on the U.S. General Services Administration (GSA) Veterans Technology Services (VETS) contract. By virtue of C2's status as a service-disabled veteran-owned company, the joint venture acquired that status for the purposes of bidding on the VETS contract.

For the first year after the contract was awarded, C2-Revolent performed on the contract as a joint venture. With the acquisition of Revolentas interests in the contract, C2 now becomes the holder of the contract and will operate on it as a single-owner prime contractor.

VETS is a Governmentwide Acquisition Contract (GWAC) set-aside contract for service-disabled veteran-owned small technology firms. It is GSA's response to Executive Order 13360 designed to strengthen federal contracting opportunities for service-disabled veteran-owned firms.

VETS presents a new way for federal agencies to achieve small business goals through purchase of Information Technology solutions from small businesses owned by services-disabled veterans.

On Jan. 9, 2008, the Secretary of the Army joined a growing list of Defense officials by endorsing the VETS contract as a tool for acquisition officials to use to meet the Government-wide goal of awarding 3 percent of the total value of all prime contract and subcontract awards for each fiscal year to service-disabled veteran-owned companies.

"VETS has always been our Flagship contract," said Gary Shumaker, C2 president. "Now we'll be steering the ship alone. Iam confident that we can provide a better guarantee of the quality of support our clients have come to expect."

VETS is a multiple-award contract, and GSA made awards to a total of 44 companies. The total value of the ten-year contract has been estimated at $5 billion.
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