Maximus to Acquire Agile Defense, Advancing Defense and National Security Growth Strategy

Maximus (NYSE: MMS), a leading provider of AI and tech enabled government services, today announced that it has entered into a definitive agreement to acquire Agile Defense, LLC and certain of its affiliates ("Agile Defense"). The agreement has a cash purchase price of $660 million payable upon closing and subject to certain adjustments, with potential additional contingent consideration tied to achieving certain performance objectives.

The acquisition is expected to accelerate Maximus' stated strategic priority to expand its presence in the defense and national security markets. Agile Defense has highly specialized cybersecurity, digital transformation, data analytics, and AI expertise to help enable better delivery of mission outcomes for government customers. This acquisition is expected to increase Maximus' opportunities to pursue resilient, technology-intensive federal missions where spending growth is anticipated to be durable and Maximus' existing scale, delivery capabilities, and operational expertise in managing workloads across FedRamp, CMMC, and rapid-experimentation environments can be leveraged.

"Maximus has long focused on supporting the mission of our government customers through technology-enabled services - and that's a mission that Agile Defense clearly shares," said Bruce Caswell, President and Chief Executive Officer of Maximus. "With the addition of their team and expertise, Maximus expects to expand our ability to deliver innovative solutions to some of the most complex and mission-critical needs of the Departments of War, Homeland Security, and other national security agencies. Together, we plan to deliver secure, purpose-built solutions that address today's priorities and tomorrow's challenges for the men and women in uniform serving our nation."

The acquisition of privately held Agile Defense is subject to regulatory approvals and customary closing conditions, with an expected closing date in the first quarter of Maximus' 2027 fiscal year.

"We are excited to join Maximus, a company that shares our deep understanding of complex government missions and our unwavering dedication to their support," said Rick Wagner, Chief Executive Officer of Agile Defense. "By combining our distinctive expertise in data analytics, AI, and cybersecurity with Maximus' extensive reach and operational strength, we will accelerate our ability to deliver innovative and highly sought-after solutions. We look forward to joining forces and continue bringing our best to the mission."

Founded in 1998, Agile Defense brings established defense and national security customer relationships, strengthened capabilities in cybersecurity and the intelligence community, approved systems, contract vehicles, distinctive growth model, and approximately 1,100 cleared personnel. Agile Labs, Agile Defense's innovation engine and a key market differentiator, is anticipated to expand Maximus' technology capabilities through specialized talent, applied research and development, emerging technologies, and proven delivery methods. The company has a demonstrated track record of turning secure, AI-enabled solutions into mission-ready capabilities supporting the nation's warfighters and priorities of defense and national security customers. Its human-centered, cloud agnostic approach advances digital transformation and delivers mission outcomes with the speed, flexibility, and ingenuity needed to meet evolving requirements. The company is based in McLean, Virginia, and serves more than 50 federal government agencies.

Agile Defense is backed by Enlightenment Capital, a private investment firm that makes control and strategic, non-control investments in middle-market companies in the Aerospace, Defense, Government & Technology (ADG&T) sector.

Holland & Knight served as legal counsel, and Ernst & Young served as accounting and due diligence advisor to Maximus. Piper Sandler served as financial advisor, Moore & VanAllen as legal counsel, and RSM US as accounting advisor to Agile Defense.

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