Montgomery County Tech and Hospitality Firms, StarCompliance, Xometry and WTS International Aquire Companies From New York and Pennsylvania
Fast-growing tech and real estate companies in Montgomery County got a little bigger, as they went into acquisition mode in the last month of 2021.
Rockville-based StarCompliance, a tech company that offers compliance technology solutions, including employee workflow conflict detection and monitoring, bought a software firm that makes political contributions monitoring software.
The purchase of Conshohocken, PA-based Six Lambda LLC is going to allow StarCompliance to branch out into the political sector and build its relationship with firms regulated by FINRA, SEC, and MSRB.
"We're excited about acquiring the capabilities of Six Lambda's data collection and processing system to further enhance Star's existing political donations monitoring capability," Star CEO Jennifer Sun said.
“We've seen more and more clients request political contribution monitoring for their firms in the last few years, and we’re pleased to be able to offer our clients a more timely and accurate data set than what has been traditionally available in the market.”
Founded in Gaithersburg but now with headquarters in Rockville, tech-success story Xometry (NASDAQ: XMTR) scooped up leading product sourcing, supplier selection and digital marketing solutions firm Thomasnet.com. It’s one of Xometry’s biggest acquisitions at $300 million.
The New York-based company also known Thomas Publishing Company LLC has 1.3 million registered users and is expected to add significantly to Xometry’s revenues.
“Xometry and Thomas share a common mission of championing the digital transformation of the manufacturing industry, one of the largest sectors of the global economy and the foundation for innovation everywhere,” said Randy Altschuler, CEO of Xometry.
“Thomas brings strong brand equity, trusted and extensive relationships, proprietary data and advanced full-funnel marketing services – assets that perfectly complement our digital marketplace. Together, we will introduce new services, cross-sell to our combined base and expand our suite of products, particularly in fintech and digital marketing.”
The purchase deal consisted of $198.5 million in cash and $101.5 million in Xometry’s Class A common stock. Now publicly traded, Xometry has a market value of nearly $3 billion.
Finally, luxury lifestyle and wellness firm WTS International took a big bite out of the New York City meeting and event space with the purchase of Meet Hospitality Services.
“WTS is in the business of activating spaces for building owners and managers where meetings and conferences are an important building amenity,” he said. “Commercial real estate owners and building managers are looking for a single company that can manage their meeting and conference facilities along with their other building amenities.”
With several locations throughout NYC, Meet Hospitality Services says it provides “a Manhattan Meeting experience that is is[sic] anything but boring.”
Rockville-based WTS International said the former Meet Hospitality executives will join the WTS Amenities Division.