Castellum, Inc. Announces Acquisition of MFSI
POTOMAC, Md., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc., (OTC: ONOV) announces the signing of a definitive merger agreement with Mainnerve Federal Services, Inc., dba - MFSI Government Group, a Delaware corporation (“MFSI”), effective as of January 1, 2021.
MFSI, a government contractor with over $1.3 million in profitable revenue, is immediately accretive to Castellum’s revenue and EBITDA per share. Castellum also continues to pursue other acquisitions as part of the company’s overall growth strategy.
Mark Fuller, President and CEO of Castellum, states, “MFSI is a solid addition to the Castellum family, bringing with it a strong relationship with Northrup Grumman, and expertise in software engineering and IT in the classified arena. MFSI also brings us an excellent team with George Tronsrue, President, and the MFSI advisory board, several of whom will be joining the Castellum advisory board in the coming weeks.”
“We are pleased to join with Castellum as a way to provide our customers with a broader range of services and greater size and scale. Mark and his team are growing quickly. We are excited to join this outstanding team and look forward to being part of their continued growth in the future,” said George Tronsrue, President of MFSI.
About Castellum, Inc. Castellum, Inc., a technology Company, focused on strategic acquisitions in the cyber security, information technology, information warfare, 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. MFSI represents Castellum, Inc.’s second acquisition.
About MFSI. MFSI was founded 10 years ago as a Service Disabled Veteran Owned Small Business (SDVOSB) federal contractor and has a Top Secret Facilities Clearance with employees and advisors holding DoD Top Secret clearances. MFSI provided past performances in data center security and operations for Army, Navy and Intelligence Community clients, and currently works as a software engineering/development, database administration and data analytics subcontracts for Army and Navy clients.
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.
Mark Fuller, CEO