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A year after Pitt Technology Group LLC was formed, the business is buying a veteran audiovisual company and a startup software developer.
Pitt Technology owners Doug Pitt and Kevin Waterland announced today they expect to close Nov. 1 on the acquisition of Springfield-based technology firms AVman & Associates Ltd. and ConceptiCode LLC, according to a news release. Waterland declined to disclose the purchase costs.
AVman, founded in 2001 by Jay Jones, provides audiovisual services to nationwide customers, including houses of worship, missionaries, schools and other businesses. Its yearly revenue exceeds $1.5 million, according to the release.
Will Vandergrift and Arik Griesse’s ConceptiCode, formed in late 2017, already has partnered with Pitt Technology to build apps for its customers.
“The AVman crew has a great reputation for providing excellent technology to their clients, and the work ConceptiCode has done for our clients has been very impressive,” Waterland said in the release.
Combined with its own growth, the acquisitions are expected to bring Pitt Technology’s revenue past $6 million in 2019.
AVman and ConceptiCode are moving their employees to Pitt Technology’s Springfield Underground offices. The operations are slated to be fully merged by January 2019, according to the release.
Jones and his five employees at AVman are leaving their current office at 500 W. Battlefield Road, and Vandergrift and Griesse are relocating from space they’ve occupied in the efactory since this spring.
Pitt Technology was formed in November 2017 after Pitt repurchased the Springfield assets from St. Charles-based partner TSI Global Cos. LLC. The Springfield office, previously at 1409 W. Sunshine St., operated under the TSI Technology Solutions LLC name for about four years after Pitt sold his remaining stake in ServiceWorld Computer Center, which he founded in 1991, according to past Springfield Business Journal reporting.
Pitt Technology launched as an umbrella for internet infrastructure contractor SyndeoSolutions LLC, information technology firm NexioTechnologies LLC and low-voltage cabling unit Lovo Integrations.
The first downtown Springfield branch for Arvest Bank opened; a longtime licensed massage therapist became a first-time business owner; and 7 Brew Coffee opened its fourth shop in Springfield.