AppNet Systems Inc., a Bethesda electronic commerce service provider, said yesterday that it had bought Kodiak Group of Pittsfield, Mass.
Kodiak Group employs 50; AppNet employs 550.
Terms were not disclosed. Both companies are privately held.
"The acquisition of the Kodiak Group represents a key component of AppNet's long-term strategy for delivering comprehensive e-commerce services under one roof," said Ken S. Bajaj, chief executive and co-founder of AppNet, in a written statement.
Kodiak's services include providing secure routing for electronic commerce transactions. Among its clients are Hewlett-Packard Co. and Unilever.
AppNet has its eye on the exploding market for helping medium to large companies design, begin running and manage complex systems that allow them to conduct a wide range of business activities over the Internet.
AppNet's growth strategy is to achieve half of its expansion through acquisition and the other half through business development. Kodiak is AppNet's seventh acquisition since mid-1998. AppNet was founded in 1997.
Pub Date: 1/12/99