Castellum, Inc. announced the creation of a new wholly owned subsidiary, Castellum Advanced Technology Products, Inc. (CATP). This new entity will focus on teaming with other leading-edge technology companies, developing technology internally, and potentially taking equity positions in companies that possess advanced technology relevant to Castellum’s Department of Defense customers. This marks a strategic expansion of the company's business model.
CEO Glen Ives stated that fully and timely leveraging advanced technology is key to success in the 21st-century battlefield. While Castellum will continue to provide technology-enabled services, this announcement signifies a meaningful broadening of its strategy for supporting the Department of Defense. The goal is to gain greater control over key products customers need, enabling better overall solutions for warfighters.
Financially, the company believes that adding more value and solving challenging customer problems through CATP can increase both revenue and operating margins. This important step reinforces Castellum's priority and commitment to constantly strengthen and enhance its organic growth capabilities. The subsidiary is expected to drive innovation and expand market reach.
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