Xcelerate buys General Dynamics background investigation business
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By
Ross Wilkers
Xcelerate is pushing to become a part of the Trusted Workforce 2.0 initiative aimed at modernizing and streamlining the security clearance process.
Xcelerate Solutions has acquired a background investigation business unit primarily focused on work across the Homeland Security Department and intelligence community.
This unit was formerly owned by General Dynamics’ IT services division and the transaction closed in 2024, Xcelerate said Tuesday.
“We are thrilled to advance this crucial initiative, which demonstrates our dedication to ensuring the safety and security of our homeland while continuing to expand our resources and expertise,” Xcelerate CEO Mark Drever said in a release. “This acquisition aligns with our strategic objectives and adds significant value for our stakeholders.”
Through this acquisition, Xcelerate is pushing to become a part of the government's Trusted Workforce 2.0 initiative for modernizing and streamlining the process for adjudicating which federal employees and contractors can get security clearances.
Continuous vetting is a significant component of that and an attempt to automate as much of the record checking process as possible.
Xcelerate has been owned by the private equity firm McNally Capital for two years and combined with VMD in early 2024.