Monday, April 19, 2004

Virginia firm buys Praxis Solutions

Number Six Software expanding in Midwest

By James McNair
The Cincinnati Enquirer

Praxis Solutions, a Blue Ash information technology consulting firm founded in 1997, soon will be a division of a larger company in northern Virginia.

Number Six Software of Arlington, Va., is expected to announce today it has acquired Praxis for an undisclosed amount, although the deal calls for a three-year payout laden with incentives. The buyer said it would change Praxis' name but would retain its management to pursue an aggressive Midwestern expansion from Praxis' offices here and in Indianapolis.

Praxis has 50 employees and posted $3.2 million in revenue in 2003. It focuses on delivering leading-edge software solutions to clients, including Procter & Gamble, Cinergy and Standard Register.

"As a Number Six team, we are now a platform to significantly affect the way software is being developed and provide the highest level of service to our clients," said Gary Winzenread, Praxis' chief executive.

Winzenread will continue to run the Cincinnati office.

Number Six, which has about $14 million in annual revenue, is run by former executives of Rational Software, which was bought by IBM.

The company's clients include the U.S. Air Force, the Department of Homeland Security, Children's National Medical Center in Washington D.C. and the management consulting firm Booz Allen & Hamilton.

"The Praxis acquisition is a critical milestone in the execution of our business plan," said Number Six CEO Carmen Facciobene.



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