Private equity investors have backed 136 U.S.- or Canada-headquartered companies in the IT consulting & outsourcing industry since the beginning of 2007, according to the PitchBook Platform. Deal-making tapered off a bit in 2012 after hitting 31 deals in 2011. Stateside, Virginia was home to the most activity in the timeframe with a 16% share of the deal flow, including a $1.88 billion deal involving SRA International. Many of the Virginia-based companies are geared toward governmental clients, including the Department of Defense. Maryland and Texas followed with 10% and 8%, respectively.