Ariel Way, a Florida technology, communications andcompany, has purchased Bethesda, Md.-based Government-Buys, a company that specializes in facilitating transactions between government agencies and industry partners and contractors.
“Gary Block, the founder of GovBuys, and his team have built an impressive operation which specializes in providing telecommunications and IT products and services to government agencies, industry partners and contractors,” said Arne Dunhem, chairman, president and CEO of Ariel Way.
“The market size of the federal government business alone is over $16 billion per year,” says Dunhem. GovBuys also has established strong ties in the health care industry. “Gary will continue as a key member of our government team," Dunhem noted.
"GovBuys is very strategic to us, and we believe we can grow rapidly through the opportunities that GovBuys presents with new customers and contracts. GovBuys revenues the last few years have been between $5.5 million and $9.9 million.”
Dunhem added that he believes the acquisition will not create any significant dilution to the firm’s current shareholders.