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Kforce buys government IT services firm

December 03 2008

Kforce Inc. (NASD: KFRC) said Tuesday it acquired dNovus RDI, a privately held supplier of information technology services to the federal government and state of Texas. Kforce is paying $38 million for San Antonio-based dNovus.

"We believe this step is a significant enhancement of the Kforce footprint in the prime federal government sector," said Kforce Chairman and CEO David Dunkel. "We believe that this combination will enable Kforce's Government Solutions segment to well exceed $100 million in annual revenues in 2009."

DNovus reported revenue of approximately $32 million in the 12 months ended Sept. 30. Its president, Glen Shaffer, will take on the role of executive VP at Kforce. Shaffer is a retired U.S. Air Force major general and former Joint Chiefs of Staff director of intelligence.

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