Fulcrum IT Services has announced its acquisition if The PTR Group, a software and technology company, saying the addition will expand its roster of national security clients and accelerate its growth in intelligence and research and development markets. Financial terms were not disclosed.
The PTR Group provides real-time and distributed system technologies and software for military and space applications, with clients including the Defense Advanced Research Projects Agency, the National Geospatial-Intelligence Agency, the Naval Research Laboratory and NASA.
The acquisition reinforces Fulcrum’s commitment to leading-edge solutions and innovative technology, including cyber operations and research, satellite and robotic control, software engineering, and embedded development, according to Fulcrum CEO Jeff Handy.
“This acquisition expands Fulcrum’s cyber capabilities and solidifies Fulcrum’s entry into the R&D markets complementing a mindset of innovative concepts and solutions to support cutting edge mission requirements,” Handy said.
PTR Group CEO and co-founder Dean Thompson said the merger will provide PTR employees the opportunity to work with a wider set of federal clients.
“Fulcrum provides access to clients like the U.S. Special Operations Command, military intelligence organizations and the Army’s Night Vision Labs, where PTR’s capabilities are extremely relevant,” Thompson said.
Bob Kipps, managing director at KippsDeSanto & Co., said the acquisition is another example of Fulcrum IT strategically using M&A to stay at the forefront of intelligence client needs.
“Effective execution on their organic and inorganic strategy has resulted in spectacular growth and performance,” Kipps said.
Fulcrum has made been fairly active in M&A in recent years. It previously purchased Dataline ITG in May 2011, Corbin Company in October 2012, and Forgentum in Feb 2014.