Acquisition strengthens CASE’s leadership in delivering cutting-edge software and cloud solutions to mission-driven clients

CASE (“CASE” or the “Company”), a provider of high-end software development and cloud engineering services, announced today that it has acquired Ragnarok Technologies (“Ragnarok”), a specialized IT services provider for federal and commercial clients. Financial terms of the private transaction were not disclosed.

Founded in 2015 and headquartered in Reston, Virginia, Ragnarok delivers specialized and tailored engineering and enterprise IT solutions across high demand areas including blockchain analysis, digital forensics, cloud infrastructure, and software development. Ragnarok’s three co-founders, Thomas Dougherty, Ethan Grambow, and Chris Santiago, will remain with the organization and assume key roles on CASE’s senior leadership team.

“Ragnarok has earned a strong reputation within the IT community for its exceptional technical expertise and unwavering commitment to its customers,” said Paul Farmer, CEO, CASE. “In addition to expanding our presence in the National Capital Region, leveraging Ragnarok’s advanced technical capabilities and cutting-edge infrastructure positions us to provide even deeper strategic insight to our clients.”

“CASE and Ragnarok share a heritage of crafting innovative, tailored solutions that address the next generation of challenges facing federal and commercial clients,” added Ethan Grambow, Co-Founder and CEO, Ragnarok. “By joining forces with CASE, we are reinforcing our ‘Mission First’ mindset and accelerating the development of advanced capabilities to counter emerging threats.”

CASE is a portfolio company of AE Industrial, a private equity firm based out of Boca Raton, Florida. The transaction marks the next phase of CASE’s growth, following the Company’s acquisition of specialist cloud-based services and cyber solutions provider, CyberKinetics, in 2024.

G Squared Capital Partners and Peloton Strategies Group served as advisors to Ragnarok on the transaction.

About CASE

CASE is a founder-owned, leading provider of mission-critical technology services, delivers a broad range of next generation IT capabilities in cloud, cyber, and software development to solve its customers' most pressing and important national security challenges. Specifically, CASE provides classified, high-end services that are in constant and increasing demand, including secure cloud architecture and analytics, software development and automation, systems engineering, and integration.

About Ragnarok Technologies

Ragnarok Technologies is a leading provider of IT services to federal and commercial clients, specializing in systems engineering, software development, cybersecurity, and program management. Driven by a commitment to purposeful innovation, Ragnarok’s experienced technologists tackle complex challenges to support clients’ mission-critical objectives.

About AE Industrial Partners

AE Industrial Partners is a private investment firm with $6.4 billion of assets under management focused on highly specialized markets including national security, aerospace, and industrial services. AE Industrial Partners has completed more than 130 investments in market-leading companies that benefit from its deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests. With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial Partners invests across private equity, venture capital, and aerospace leasing. Learn more at www.aeroequity.com/

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