M&A

Castellum's latest acquisition takes company further to new stock listing

Castellum, a defense technology company focused on acquisition-led growth, has closed another transaction amid a push to up-list into a new stock exchange versus the current structure.

Potomac, Maryland-headquartered Castellum said Tuesday it purchased Specialty Systems Inc. to gain more footholds in areas such as software engineering, program support, cybersecurity, network and systems engineering.

Castellum will also add approximately 90 employees, including CEO Emil Kaunitz and Chief Operating Officer Bill Cabey along with other management team members.

The company’s stock is currently traded in over-the-counter markets, or directly between and among the parties without the supervision of an exchange.

In targeting $25 million in annual revenue, Castellum is seeking to list on the New York Stock Exchange American that predominantly supervises trading of shares in small and mid-cap companies.

Castellum posted $13.3 million in revenue for 2020. The company’s most recent acquisition prior to SSI was the purchase of Merrison Technologies announced in early August that sought more classified software engineering and IT services work.

At the start of the year, Castellum disclosed its purchase of MFSI Government Group that also concentrated on software engineering and IT in the cleared space.

About the Author

Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at rwilkers@washingtontechnology.com. Follow him on Twitter: @rosswilkers. Also connect with him on LinkedIn.

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