GSE Systems Acquires EnVision Systems
GSE Systems, a Sykesville, MD-based maker of simulation and
training systems, said on Wednesday it has acquired New Jersey-based EnVision Systems in a deal worth up to $4.2 million.
provides interactive multi-media tutorials and simulation models,
primarily to the petrochemical and oil & gas refining industries.
Under the deal, GSE paid $1.2 million in cash at closing, and could pay
up to $3.05 million more if Envision hits certain revenue targets over
the next four years.
"EnVision's products add a new dimension to
our traditional business model of developing customized systems, while
strengthening our presence in the non-nuclear training and simulation
markets," said Jim Eberle, the CEO of GSE.
approximately 130 clients include Shell Oil, BP, Total and Chevron.
EnVision will operate as a subsidiary of GSE and be re-named GSE
on the web: http://www.gses.com
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