Tessco buys NetForce to add to training tools

Tessco Technologies Inc. acquired NetForce Solutions Inc., a provider of technical and sales training to the wireless, telecommunications and networking industries. Although Tessco declined to disclose the purchase price, it did report that the deal includes all non-cash business assets for an initial cash payment and additional contingent cash earn-out payments over a four-year period.
NetForce will be integrated into Tessco’s training business unit, which also includes the recently acquired GigaWave Technologies. Through this purchase, Tessco says it will enhance its sales and technical training services, which already include training in areas such as test equipment, fiber optics, IP-based services, wireless local area network, broadband, retail sales and next-generation wireless.
“We are pleased to have NetForce’s experienced founders and capable educators as part of the Tessco team and we think that there is a great opportunity to significantly scale the business as a combined entity. Education and training have become increasingly important to our customers as they strive to improve their speed to market, productivity and quality. The acquisition of NetForce is another step towards becoming your total source for learning, and we expect NetForce to contribute positive earnings and cash flows this fiscal year,” Tessco Chairman, President and CEO Robert Barnhill said.
NetForce’s un-audited revenues for 2006 were less than 1% of Tessco’s total revenue.