Defense spending has changed over the last few years, with money "coming out of war-based and troop-based areas and into intelligence- and signal-processing capabilities," explains Craig Bondy (pictured), managing director of GTCR. The Chicago private equity firm recently agreed to sell portfolio company Six3 Systems Inc. to CACI International Inc. (NYSE: CACI), a provider of information products and services to government customers, for $820 million.

Six3 provides services aimed at the intelligence community, the U.S. Department of Defense and civilian security agencies. The McLean, Va., company was formed in 2009 by GTCR and Robert Coleman, the former president of ManTech International Corp. (Nasdaq: MANT).

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