Veteran Industry Executives Join Leading Information Technology Services Company
SILVER SPRING, Md., Dec. 7, 2010 /PRNewswire-USNewswire/ -- Interactive Technology Solutions (ITSolutions), headquartered in Silver Spring, MD, today announced that Todd Stottlemyer will join ITSolutions as its Chief Executive Officer effective January 1, 2011. Stefan Lalos, ITSolutions founder and current CEO, will remain active and involved as a member of the Company's Board of Directors. Additionally, Tom Weston will join ITSolutions as Chief Financial Officer on December 6. Doug Kollme, the current Chief Financial Officer, will lead the Company's Corporate Development and M&A activities.
ITSolutions is a privately held information technology services business. With its recent acquisitions of the IT Services business from NetStar-1 and Peace Technology, ITSolutions is a recognized leader in health information technology and other government and commercial information technology services markets. ITSolutions was founded in 2001 and the Snow Phipps Group, a New York-based private equity firm, purchased a controlling interest in 2009.
Stottlemyer comes to ITSolutions from the Inova Health System, a leading healthcare provider in the mid-Atlantic region, where he served as a member of the executive management team, leading, among other things, Inova's information technology efforts. Previously, Stottlemyer was a co-founder and CEO of Apogen Technologies, a leading provider of technology solutions to federal, state, and commercial customers. Stottlemyer also served as Chief Financial Officer of BTG, Inc. (now a part of L-3) and as a member of the executive management team of BDM International (now a part of Northrop Grumman), both of which were large, publicly traded information technology companies serving government and commercial customers in the U.S. and internationally. In addition to his IT experience, Stottlemyer led the National Federation of Independent Business as President and CEO and served as President of McGuireWoods Consulting.
"Todd's blend of Government and commercial information technology services experience, knowledge of the health care industry and technology, and proven record of growing businesses organically and through strategic acquisitions will be a great asset for ITSolutions," said Leif Soderberg, Chairman of the Board of ITSolutions and an Operating Partner with Snow Phipps. "We look forward to his leadership in evolving our strategy, extending our customer franchise, and building our organization."
Stottlemyer said, "I look forward to building on ITSolutions' strong position with core customers and its enviable record of delivering very high levels of customer satisfaction. We have an outstanding and dedicated team of employees who are committed to the mission critical work of our customers. The commitment of our employees coupled with strong and growing positions in key sectors with favorable trends provides the foundation to be a leading company in the health information technology and other government and commercial information technology services markets."
Stefan Lalos will transition from a day-to-day operating role and will continue to serve on the Company's Board of Directors and retain a meaningful ownership stake. "We are all grateful for Stefan's leadership and his vision and energy in starting and growing the business and the solid organization he has built," said Sean Epps, Partner at Snow Phipps. He continued," Stefan has been instrumental in the transition since Snow Phipps acquired ITSolutions last year, and this change in role is a natural progression of responsibilities that he envisioned at that time."
Tom Weston joins ITSolutions from QinetiQ, a publicly traded UK-based provider of information technology services to the defense and security markets, where he was Executive Vice President and Chief Financial Officer for the North American operation. At QinetiQ, Weston was responsible for the company's finance and accounting activities, its mergers and acquisitions program, and all of the company's banking and treasury efforts. He joined QinetiQ when they purchased Apogen Technologies in 2005 where Weston served as that entity's Executive Vice President and CFO. Previously, Weston served as Executive Vice President and CFO of BTG, Inc.
"Tom and I have worked closely together before to build a strong team and grow successful businesses," said Stottlemyer. He continued, "Tom's experience in building a strong business-oriented finance function and his deep experience in acquisitions and the integration of acquired companies will provide critical value for ITSolutions."
About Interactive Technology Solutions, LLC (ITSolutions)
ITSolutions is a privately held management and information technology services company and a recognized leader in the government and commercial information technology services markets. The company provides lifecycle IT services and solutions to Federal agencies, State and local governments, and commercial clients in the areas of strategic planning, project management, infrastructure operations, data analytics, and network engineering and architecture.