Saalex Corporation has acquired Middletown, Rhode Island-based Netsimco, an IT services and tech support provider. Financial terms of the deal were not disclosed, but according to a statement from Saalex, the acquisition of Netsimco, a $30 million company, grows Saalex to a $100 million annual revenue organization.
This is technology M&A deal number 278 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Saalex Acquires Government IT Services and Support Provider Netsimco
Netsimco was founded in 1999 and is a service-disabled veteran-owned small business specializing in warfare analysis and war game support, information technology, and advanced modeling and simulation, according to a statement from the companies. Netsimco provides information technology support, IT services and past-performance analysis for aerospace and defense organizations and has experience in Operational Level of War training and education, the company said. In the past six years, Netsimco has experienced 20% annual growth and has over 180 employees in four states.
Saalex Corp. was founded in 1999 by Travis Mack and is headquartered in Camarillo, California. The firm is a federal services contractor providing test range operations and management, engineering and logistics services, cybersecurity and IT services to government and defense customer, according to Saalex. Saalex Corp. also is a service-disabled veteran-owned business.
The transaction significantly scales Saalex's offerings and provides it with expanded capabilities in the aerospace and DoD markets, Saalex said.
The acquisition will see Netsimco become a wholly-owned subsidiary of Saalex, and its executive leadership will stay on with the company through the transition, according to Saalex. Employees of Netsimco will be able to participate in the company's employee-ownership plan, and the companies said no staffing reductions are planned.
Saalex Acquires Netsimco: Long-Term Growth Strategy
Travis Mack, president and CEO, Saalex Corporation, commented on the news:
"This acquisition is part of a long-term growth strategy we have put in place to significantly grow our business to become one of the largest employee-owned IT services providers in the DoD space. Netsimco has unrivaled credibility with information tech support and past performance for its defense customers, and we are thrilled to bring that expertise and those capabilities into Saalex."