FOR IMMEDIATE RELEASE
For Additional Information:
SATELLITE BEACH, FL. – December 5, 2016 Novel Engineering and Riverside Technical Services today announced a definitive agreement under which Novel has acquired Riverside in an undisclosed cash transaction. The combined companies boast approximately $9 million dollars in revenue and about 100 employees nationally, including 75 engineers.
“Acquiring Riverside is transformational for Novel,” said Misty Marot, President and Chief Executive Officer of Novel. “The combination of the two companies’ highly complementary core expertise creates a competitively stronger company with greater scale. We are expanding in the technical staffing market where Riverside has decades of success and a workforce dedicated to providing customers with innovative and cost-effective solutions for some of their most complex technical staffing challenges.”
The combined companies will be headquartered in Satellite Beach, Florida.
About Novel Engineering
Novel Engineering is an engineering service provider to the software and electronic industry. Novel Engineering is a Woman-Owned Small Business (WOSB) whose engineering staff is comprised of software, electrical, and systems engineers. Novel Engineering serves businesses in the aerospace, defense, space, controls, scientific, transportation, and business applications sectors. As a woman-owned company, Novel’s keystone values are commitment, perseverance, honesty, teamwork, and aptitude. Novel Engineering is third party certified as a Woman Owned Small Business by Women’s Business Enterprise National Council (WBENC).
About Riverside Technical Services
Riverside Technical Services focuses on skill sets which touch the Software Development Life Cycle (SDLC) as well as Information Systems/Technology, Infrastructure, and Network related skills. Riverside’s specialty is attracting, identifying, placing, and retaining the highest quality technical professionals. Since 1990, Riverside Technical Services has gained a reputation for putting together the right team to meet their clients’ needs, ensuring their candidates are both a technical and cultural fit for each position they fill.