The acquisition will merge Synaptech’s software development expertise with LMI’s experience in logistics, deep analytics and technology, the Tysons, Virginia-based organization announced on Thursday.
“LMI is thrilled to be entering the fast-paced, growing space market by acquiring Synaptech, which protects our nation’s national security assets and provides senior leaders with physics-backed decisional options,” said Doug Wagoner, LMI’s president and CEO and a three-time Wash100 Award winner.
Synaptech has a record of operating to integrate people, processes and technologies to deliver customers’ needs in a timely manner. The company’s flagship software, Rapid Analysis and Prototyping Toolkit for Resiliency, offers an expansive, scalable architecture for modeling, simulation, analysis and visualization.
LMI’s acquisition of Synaptech is intended to combine the strengths of each organization to enhance both company’s innovations in support of their Department of Defense customers.
“The combination of LMI’s incredible talent, resources and rich history of proven performance throughout the DoD, paired with Synaptech’s knowledge and extensive experience in the space domain will yield tremendous results for our customers within the national security space industry for years to come,” emphasized Zac Gorrell, Synaptech CEO, and Elias Peroulas, CTO of the company.
The two executives, who co-founded Synaptech in 2015, also stressed the importance of the two organizations’ shared goal of creating mission-critical products.
Providing additional commentary, Wagoner expressed LMI’s excitement to join forces with Synaptech to launch the enterprise further into the space marketplace. He said that the acquisition will allow LMI to better serve its customers by enabling total, multi-domain awareness at scale.
Wagoner also discussed LMI’s 60-year history that began during the space race, making its entry into the modern space area as the industry grows and faces new challenges from adversaries a fitting decision for the company.