ERT Acquires Sev1Tech to Enhance Capabilities in Space and Defense Markets
Earth Resources Technology (ERT) has acquired Sev1Tech, supported by Macquarie Capital, to expand its footprint in the civilian and defense sectors. This acquisition will increase ERT's workforce to approximately 1,600 employees and enhance its capabilities to deliver secure digital solutions for government customers. Key contracts include a potential $188 million deal with the Space Force. ERT aims to diversify its revenue profile and utilize Sev1Tech's established presence in the Space Force to foster growth.
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Earth Resources Technology (ERT) has acquired Sev1Tech, with support from Macquarie Capital, to establish a stronger presence in both civilian and defense markets. This acquisition will grow ERT's employee count to about 1,600, with Sev1Tech contributing approximately 1,100 employees.
ERT aims to diversify its revenue and leverage Sev1Tech's existing contracts, including a potential $188 million deal with the Space Force. The acquisition allows ERT to enhance its digital modernization capabilities and support government customers in regulated environments. KippsDeSanto & Co. acted as financial advisor for Sev1Tech in this transaction.
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