IT company Netrepid acquires Lion Technologies
Cumberland County-based Netrepid Inc., an information technology company, today said it has acquired York County-based Lion Technologies Inc., a similar IT services company.
“We’ve done a number of acquisitions over the years, and we try to keep our eyes open for companies working in similar technologies, or with new geographic areas that would be good for us,” said Sam Coyle, Netrepid’s president.
In this case, acquiring Red Lion-based Lion Technologies gives Netrepid a stronger position with about 300 business clients and more than 200 residential clients in York County and northern Maryland, he said.
Coyle declined to say how much the acquisition was worth. But Lion’s revenue was about $500,000, he said. Netrepid will keep Lion’s office and two employees in York County for customer service, he said.
Last year, Netrepid acquired Lancaster-based GameChanger Technologies for a similar expansion.
East Pennsboro Township-based Netrepid is looking at a couple more acquisitions this year, Coyle said.