Saalex has purchased Netsimco, a Middletown, Rhode Island-based information technology services provider, for approximately $30 million in a transaction that expands its IT capabilities in the Department of Defense and aerospace markets.
Established in 1999, Netsimco is a service-disabled veteran-owned small business that provides IT, war game support, advanced modeling and simulation and warfare analysis support for government and military customers, Saalex said Tuesday.
Saalex will operate Netsimco as a wholly owned subsidiary and expects to grow into an organization with $100 million in annual revenue through the transaction. Netsimco operates with more than 180 employees in four states and has seen an annual growth of 20 percent in the past six years.
Netsimco’s executive leadership team will remain with the company through the transition period and its personnel will take part in the employee-ownership plan.
“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 of Saalex.
Saalex is a Camarillo, California-based federal services contractor founded by Mack and has been providing test range operations and management, cybersecurity, IT, engineering and logistics support services since 1999.
