Bluestone is Pleased to Announce Another Add-on Acquisition for its Portfolio Company CTI
April 2024 – McLean, VA – Bluestone Investment Partners, a private equity firm focused on the defense and government technology sector, is pleased to announce the successful acquisition of Asymmetric Technologies LLC by its portfolio company, Chesapeake Technology International Corp. (CTI). This strategic move marks a significant expansion of CTI's capabilities in the realm of defense technology and underscores Bluestone's commitment to fostering growth and innovation within its portfolio.
Asymmetric Technologies, recognized for its expertise in open-source technology tailored to mission-specific needs, aligns with CTI's mission to deliver advanced, operator-focused technologies. The integration of Asymmetric's innovative products like IronClad and Whisper enhances CTI's portfolio, providing sophisticated solutions for flight autonomy and edge communications across various Department of Defense and national security customers. "This acquisition will enhance our ability to deliver comprehensive software and purpose-built hardware products and solutions for our customers and reaffirms our strategy to invest in our business to address evolving national security needs," said Jay Moorman, CEO of CTI.
Dustan Hellwig, Founder and Chief Strategy Officer of CTI commented: "The acquisition of Asymmetric marks another milestone in our strategic growth journey with Bluestone. It complements our existing technology and expands our capabilities to support emerging needs from our customers.”
John Allen, Managing Partner at Bluestone Investment Partners, stated that “Our acquisition strategy at Bluestone is designed to complement and enhance CTI's rapid organic growth. We are excited to continue to partner with the CTI leadership team to further accelerate the company's expansion through strategic M&A initiatives.”
The collaboration between CTI and Asymmetric presents new opportunities for innovation and growth, reinforcing Bluestone’s strategic vision for its portfolio companies. Bluestone remains committed to its mission of providing value-added capital and strategic support, ensuring continued success and advancement in the defense and government technology sector.
Bluestone and CTI are actively seeking additional add-on acquisition opportunities. We are particularly interested in companies possessing technologies that advance next-generation electronic warfare, intelligence, surveillance, reconnaissance, and situational awareness programs for the Department of Defense and national security customers.