LMI has acquired Synaptech, a company that creates digital engineering, modeling and simulation software for the national security and space industries.
“LMI is thrilled to be entering the fast-paced, growing space market by acquiring Synaptech, which protects our nation’s national security assets and provides senior leaders with physics backed decisional options,” said Doug Wagoner, LMI president and CEO.
Synaptech was founded in 2015 and is headquartered in Colorado Springs, Colorado. The company specializes in space defense through its proprietary software, the Rapid Analysis and Prototyping Toolkit for Resiliency. RAPTR provides a scalable architecture for modeling, simulation, analysis and visualization for the space warfighting domain and cross-domain warfare integration.
Wagoner said expanding into the space domain enables LMI to better serve its current and new customers.
“To help our customers innovate at the pace of need, one must understand all discreet and interdependent operational domains from the sea floor and sea surface, to ground, air, cyber, and space,” Wagoner said. “The acquisition of Synaptech enables LMI total multidomain awareness at scale.”
LMI approaches acquisitions by identifying strategic gaps and found it important to have a presence in the space market and with the U.S. Space Force ⏤ now a new customer.
“We have great market access now to Space Force headquarters and other intel-related space agencies and entities,” Wagoner said. “[Synaptech] also has solutions for space domain management, RAPTR. We pick up this intellectual property tool that helps manage space assets and make space decisions.”
Additionally, LMI can now bring its capabilities in consulting, human capital management and supply chain management to the Space Force.
“Those are all challenges that the Space Force has that we now have access to, thanks to the acquisitions,” he said.
LMI’s expertise in logistics, deep analytics and technology will also complement Synaptech’s modeling and simulation strengths. This will better position both companies to support Defense Department customers, and well-equip LMI to respond to the space race.
“We are excited to welcome Synaptech’s employees, the best and brightest in the space industry, to the LMI team where they will find colleagues just as passionate about applying technology to solve our nation’s greatest challenges,” Wagoner said. “Chartered by President Kennedy in 1961 at the dawn of the space race, it is fitting that LMI is now entering the space marketplace to support a renewed space race where adversaries seek to disrupt and disable our dominance in space.”
LMI has a 60-year partnership with the federal government, and Synaptech has experience in quickly and efficiently integrating people, processes and technologies to solve customers’ challenges within an operationally relevant timeframe. This will provide added support to LMI’s current customers in the space domain and beyond, including NASA and the National Oceanic and Atmospheric Administration.
“We can initiate growth across all of our markets,” Wagoner said.
Going forward, Zac Gorrell and Elias Peroulas, CEO, chief technology officer and co-founders of Synaptech, will lead LMI’s space business.
“LMI and Synaptech share the same vision, culture, and passion for creating innovative, mission focused solutions that make this partnership a perfect match,” the two said. “The combination of LMI’s incredible talent, resources, and rich history of proven performance throughout the DoD, paired with Synaptech’s knowledge and extensive experience in the space domain will yield tremendous results for our customers within the national security space industry for years to come.”
KippsDeSanto & Co. served as exclusive financial adviser to Synaptech.