Castellum, Inc. Announces Acquisition of Merrison Technologies
Castellum, Inc. (OTC: ONOV) has completed a merger with Merrison Technologies LLC, enhancing its revenue stream by adding approximately $3 million in profitable revenue. This strategic acquisition is expected to boost Castellum's annual run-rate revenue to about $19 million, significantly impacting its EBITDA per share positively. The merger also strengthens Castellum's relationships and technical expertise in the defense sector, particularly software engineering and IT solutions. Castellum is pursuing further acquisitions to enhance growth.
- Acquisition of Merrison Technologies LLC adds approximately $3 million in profitable revenue.
- Projected annual run-rate revenue increases to about $19 million.
- The transaction is immediately accretive to Castellum’s revenue and EBITDA per share.
- Strengthened relationships with CACI and enhanced expertise in software engineering and IT.
- None.
POTOMAC, Md., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces signing and closing on a definitive merger agreement with Merrison Technologies LLC, a Virginia limited liability company (“Merrison”), effective immediately.
Merrison is a government contractor with approximately
Castellum is also in late-stage discussions with another, previously announced, company which it is looking to close in August.
“Merrison is an excellent add-on addition to the Castellum family, bringing with it a strong relationship with CACI and expertise in software engineering and IT in the classified arena,” said Mark Fuller, President and CEO of Castellum. “Merrison also brings us an excellent team with Andrew Merriman, President, and his team of nearly 20 experienced people. We are happy to welcome the entire Merrison team to Castellum.”
About Castellum, Inc. Castellum, Inc. (OTC:ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology, information warfare, software engineering, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy. The company completed its first acquisition in November 2019. Merrison represents the Company’s third acquisition - http://castellumus.com/ and https://merrison-tech.com/
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact:
Mark Fuller, CEO
info@castellumus.com
301-961-4895
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c08cf29a-d1e1-491d-bc64-2a56e948e73d
FAQ
What is the impact of Castellum's merger with Merrison Technologies on its revenue?
How will the Merrison acquisition affect Castellum's earnings?
What expertise does Merrison Technologies bring to Castellum?
Is Castellum planning more acquisitions after Merrison?
