St. Louis IT Firm Buys Local Competitor

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.

Read more from the St. Louis Business Journal

 


Tags:, ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more