Darwin McDaniel
Sequoia Holdings has secured an equity investment from New York-based private equity fund Chart National to help expand services for the U.S. national security sector.
The software and cloud services provider said Friday it will use the investment and partnership with Chart National to offer services to help defense and intelligence agencies in their cloud adoption efforts, application modernization and workload automation.
"We're honored to join forces with Chart National," said T. Richard Stroupe, Jr., Sequoia president and CEO. He added that the financial support will allow the company to scale its adoption and delivery of new cloud enablement products and services across the public sector.
Under the terms of investment, Stroupe will stay on as Sequoia’s CEO, while the company's current employees will become shareholders. Stroupe will also be part of the board of directors.
The company did not provide further information on the transaction.
Sequoia is an Amazon Web Services Advanced Consulting Partner that provides software development and engineering services to the U.S. defense and security communities, including intelligence agencies and the departments of defense and homeland security.
