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NSBE - Wikipedia
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The Next Level: Entrepreneurs
Rodney Hunt, president, founding partner and CEO of RS Information Systems (RSIS) knows that the deal of his lifetime will produce strong reactions.
To some, sale of his $330 million, black-owned federal contracting company, which provides IT services to more than 100 defense, civilian and law enforcement agencies, is the loss of independence of one of the nation’s largest black-owned businesses. Hunt, role model and mentor to black federal contractors, is grabbing the gold ring of free enterprise, and his payout will be great.
In a sale announced this week, RSIS, the Northern Va.-based company Hunt cofounded in 1992, will become the fourth strategic unit of Wyle Inc., owned by private equity firm, Littlejohn and Co., of Greenwich, Conn. Wyle is a provider of aerospace engineering, testing and research services to government and industrial customers.
Although terms of the transaction, which is expected to close in 2008, were not disclosed, acquisition of RSIS will increase Wyle's 2008 annual revenues to approximately $800 million and the number of employees to more than $4,200. RSIS had $330 million in 2006 revenues.
"We are very excited about becoming part of Wyle," Hunt said. RSIS has ten regional offices, 56 customer sites, and its services reach 425,000 customers and users. The company employs about 1,400 staff worldwide and sixty percent of its employees are minorities, women, or veterans.
When the RSIS purchase is completed, Wyle will add new federal prime contracts and customers and broaden its presence, said George Melton, Wyle chairman, CEO and president. “While we have some major contracts in the information technology field, this acquisition makes Wyle a major federal information technology provider with a major presence in Washington DC.”
Founded in 1992 as a minority-owned small business, RSIS has grown rapidly. As a top performer in the Small Business Administration's certification program, RSIS grew too large to qualify for small business status as of January 2003.
Since then, the company has earned a string of government IT awards. RSIS is #35 on the closely watched Washington Technology list of the 100 largest federal prime contractors of technology services nationwide.
RSIS has the distinction of being ranked the largest African American-owned company among all industrial and services companies in the Washington DC area by Black Enterprise Magazine. RSIS was ranked #19 in 2003, #24 in 2002, #44 in 2001, and, #68 in 2000. In 2003, for the seventh consecutive year, RSIS was named to Deloitte & Touche's "Technology Fast 50" program for the Virginia area.
In 2004, US Black Engineer & IT magazine named Rodney Hunt Top Technology Entrepreneur. Two years later, Hunt received the Black Engineer of the Year Alumni category award for his significant efforts in bringing business development seminars to 1,000 plus small business executives.
Such past kudos may shape Rodney Hunt’s future. After an expected consultancy with Wyle ends, he will have the cash, contacts, and experience to be a serial entrepreneur or a "startup godfather."
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A virtual spokesperson for black technology, BlackEngineer aspires to serve as leading news and information provider on the advancements in black technology with deep insights into black engineering, black entrepreneurs, black education, and historically black colleges and universities (HBCU). In fact, BlackEngineer is one of the very few to promote the achievements of black technology. The Black engineer of the year awards (BEYA) is one of our successful ventures to promote black technology, progress and achievements made in black technology, and the sentiments of the Black community in the US, the UK, Caribbean, and Africa.
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Black technology entrepreneurs are increasingly providing the horsepower that drives the global economy. Over the last two decades, black entrepreneurs have created more jobs, and contributed much more to the economic expansion of the Black community as a whole, than any black pastor or politician. Black entrepreneurs are taking risks and building businesses that generate economic growth and increase prosperity in underserved areas, as more minority-owned and minority-focused businesses emerge, willing to serve the financial needs of Black entrepreneurs. US Black Engineer & Information Technology magazine's annual list of Top Black Technology Entrepreneurs reflects the expanding scope of leading Black entrepreneurs in information technology, homeland security, and defense.
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