IT service and consulting firm Blade Technologies Inc. has acquired a 10-year-old St. Louis competitor, UltraTech Resources. The combined firm will have 32 employees, and expects to grow 10 percent in the next year, officials said.
Terms of the deal, which closed April 15, were not disclosed, but Blade officials said the combined firm expects revenue of $4.5 million in this fiscal year, up from nearly $3.8 million last year. Blade funded the deal by reinvesting into the company in lieu of shareholder dividends, officials said. UltraTech had gross sales of $525,000 in 2013.