Saalex Corporation today announced the acquisition of Middletown, RI-based Netsimco, a leading IT services and tech support provider. The transaction significantly scales Saalex’s offerings and provides it with expanded capabilities in the aerospace and DoD markets. The acquisition of Netsimco, a $30 million company, will grow Saalex to a $100 million annual revenue organization. Specific financial terms of the transaction are not being released.
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Netsimco was founded in 1999, and has grown to become a leading provider of information technology support, IT services, and past performance for aerospace and defense organizations. The company has a long history of providing advanced technology solutions – on-time and under budget – to its military and government customers.
“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,” said Travis Mack, President and CEO, Saalex Corporation. “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.”
Under terms of the transaction, Netsimco becomes a wholly owned subsidiary of Saalex, and its executive leadership will stay on with the company through the transition. Employees of Netsimco will be able to participate in the company’s employee-ownership plan. No staffing reductions are planned.
About Netsimco
Formed in 1999, Netsimco is a Service Disabled Veteran Owned Small Business specializing in warfare analysis, information technology, war game support, and advanced modeling and simulation. Netsimco has extensive experience in Operational Level of War training and education. In the past six years, Netsimco has experienced 20% annual growth and has over 180 employees in four states.
About Saalex Corporation
Saalex Corp. is a federal services contractor providing core competencies in the areas of test range operations and management, engineering and logistics services, cybersecurity, and IT services.