Oct. 12—Boecore, a longtime Colorado Springs-based defense contractor, has acquired Ascension Engineering Group, a local satellite and communications firm, the companies announced this week.

Terms of the deal were not disclosed.

The acquisition comes as Boecore — backed by parent company Enlightenment Capital in the suburbs of Washington, D.C. — seeks to grow and become more competitive in the defense and aerospace arena, Boecore President Tom Dickson said in a news release.

Boecore, whose roughly 270 employees provide space and missile defense services, among other solutions, will use the acquisition of Ascension Engineering Group and some of its technologies to enhance its secure development and deployment of software for government systems, Dickson said.

"The partnership with the AEG team helps Boecore expand our products and technical capabilities, and it broadens our relationships and mission expertise within the space community," Dickson said in the release.

"We are thrilled to welcome the AEG employees to the Boecore family and to continue driving innovation to support our customers' most critical missions."

AEG's acquisition will add about 50 employees to Boecore's workforce. Each company's employees will continue to work in their respective Colorado Springs offices, though their workspaces will merge next year, Dickson said. Boecore operates downtown, while AEG has offices on the city's north side.

AEG President and co-founder Andrew Dark, who started the firm in 2017, said the companies' values and cultures are compatible, including the value put on employees.

"We are excited to partner with the Boecore team and continue to build mission critical capabilities that drive a lasting impact to our customers," Dark said in the release.

"Our cultures are dedicated to innovation in support of our customers' missions, and this partnership will only make our combined solutions more impactful to the space and defense communities, while offering greater opportunities and support to our employees."

Dark and AEG's other co-founder, Dan Wilson, will stay on with the company, with Dark leading the AEG subsidiary of Boecore, Dickson said.

As Boecore continues to expand, more acquisitions could be on the horizon, Dickson said.

Boecore was founded in 2000 by businesswoman Kathy Boe, who grew the company into one of the city's more successful defense contractors. In addition to its Colorado Springs headquarters, Boecore has operations in Albuquerque, Huntsville, Ala., and Ogden, Utah.

Seeking to take a step back from day-to-day operations, Boe sold the company in January to Enlightenment Capital, an investment firm. She continues to serve on Boecore's board.

Enlightenment was one of 20 potential suitors for Boecore; its sale was made with the intention that the buyer keep Boecore's name, take care of its employees and use the company as a catalyst for making future acquisitions.