I'm pleased to be able to blog about the acquisition of 3Dsolve, the firm I co-founded and for which I've served as COO, by Lockheed Martin. The news broke about an hour ago, which means at last I can talk about something we've been working on for months now.
From the press release:
Lockheed Martin Corporation announced it has acquired 3Dsolve, Inc. Terms of the transaction were not disclosed. 3Dsolve is a privately held company that creates simulation-based learning solutions for government, military and corporate applications. The company's innovative software tools assist clients with collaborative training utilizing interactive 3D graphics (aka, "serious games")...
"The acquisition of 3Dsolve will strengthen our ongoing initiatives in the rapidly growing training and simulation market, allowing us to provide a broader array of solutions and services to our expanding customer base," said Dale Bennett, President, Lockheed Martin Simulation, Training & Support (LM STS). "This transaction represents a solid strategic fit for our business and will enable us to strengthen our core competencies, leverage the talents of our employee base and support Lockheed Martin Corporation's long-term strategy of value expansion." ...
"We are very pleased to join LM STS to address exciting opportunities. With our experience in gaming, visualization and training combined with Lockheed Martin's expertise and resources, we intend to be the leader in simulation-based learning," said Richard Boyd, CEO of 3Dsolve, now Director of the Lockheed Martin 3D Learning Systems.
This acquisition is exciting for my teammates and me. We've always felt like we had superior technology. Now we get to see what we can do when that technology is backed up by the world's largest defense contractor. I'm interested to start learning about the depth and breadth of resources we'll be able to call on.
On a personal note, this is validation for a tremendous amount of work and sacrifice put in by a dedicated group of people. The startup life isn't the easiest career path to follow, but the rewards are tremendous -- not just when your company is purchased, which is great, but more from the daily experience of working with people whom you like, trust, and respect (to borrow a phrase from Alex Osadzinski).
For those of you wondering why I haven't blogged in over three weeks, I hope this explains it. The negotiations and due diligence were a tremendous amount of work for a number of people -- at 3Dsolve, Lockheed Martin, and our respective law firms. My days consisted mostly of working on the acquisition until the evening, coming home to rest for an hour or two, heading out to the gym, returning home to crawl into bed, and sleeping a few hours before starting the process over again the next day. Blogging fell off the list. I'm hopeful that now I'll be able to get back to a more regular schedule.