WCAS-backed GovernmentCIO to acquire Salient CRGT from Bridge Growth Partners and Frontenac for $700m.

Welsh, Carson, Anderson & Stowe-backed GovernmentCIO, a provider of information technology and digital services, agreed to acquire Salient CRGT, a company that offers IT services, from Bridge Growth Partners and Frontenac, two private equity firms for $700m. "SCRGT's highly differentiated ability to deliver innovative solutions and strong customer relationships have fueled its success to-date, positioning it as a clear market leader. Together, we are confident that we have the scale and additional capabilities to deliver even greater value to a broader set of federal customers. We are delighted to partner with SCRGT's leadership team and employees moving forward," Jim Brabston, GovernmentCIO CEO.