VTG fuels new opportunities with latest acquisition
VTG has made its second acquisition of the last nine months as the private equity-backed company continues to build out its four-pronged strategy.
ASSETT Inc.’s capabilities include software development, artificial intelligence and digital transformation with a particular focus around undersea and unmanned systems. That company also built up a collection of intellectual property through a series of prime contracts.
Some of ASSETT’s customers include Naval Sea Systems Command, Naval Special Warfare Command and U.S. Special Operations Command.
The deal brings about $10 million in annual revenue and 50 people to VTG. With ASSETT in tow, VTG estimates it’ll hit $250 million in 2021 revenue.
“These are primarily engineers, scientists and software developers,” VTG CEO John Hassoun said.
This is the fourth deal VTG has closed since 2019 as it builds its capabilities around the same…