Monday 27 March 2023

US-based cybersecurity and electronic warfare services company Castellum, Inc. (NYSE-American: CTM), has acquired Maryland-based government contractor Global Technologies Management Resources, Inc (GTMR), the company said.

The transaction is immediately accretive on a revenue per share, recurring cash operating profit per share (a non-GAAP measure), and net income per share basis to Castellum. Pro forma for the acquisition, Castellum's revenue run rate now exceeds USD50 m.

The transaction was structured to be a tax-free reorganisation under Section 368 of the Internal Revenue Code with just over 80% of the consideration in the form of Castellum restricted common stock.

Castellum, Inc. (NYSE-American: CTM) is a defense-oriented technology company that is executing strategic acquisitions primarily in the cyber security and electronic warfare services space.