GSE Systems, Inc. (NYSE: GVP) acquired Huntsville, Ala.-based Hyperspring LLC through its operating subsidiary, GSE Power Systems Inc. GSE provides simulation, training and engineering solutions to the energy industry, and the transaction brings a staffing component to the firm.

Hyperspring provides staff augmentation, training and development, and plant operations support services, primarily in the US nuclear industry.

The transaction closed Nov. 14. GSE paid the sellers an aggregate of $3 million at closing. In addition, GSE Power may pay the sellers up to an additional $8.4 million if Hyperspring reaches certain three-year earnings targets.

Hyperspring will operate as a wholly-owned subsidiary of GSE Power and will be run by current CEO Paul Abbott. In addition, Shawn McKeever and Mickey Ellis will remain with Hyperspring as executive vice presidents; Dale Jennings will remain with the company as CEO of IntelliQlik.

“As part of our lofty strategy to change the way the energy industry learns, the acquisition of Hyperspring delivers on our promise to diversify GSE’s business model and positions us to better address the growing demands of the energy services industry,” said GSE CEO Jim Eberle.

Hyperspring generated revenues of approximately $19.2 million in 2013, of which approximately 90 percent of come from its staff augmentation business and about 70 percent from one utility. Hyperspring primarily serves the nuclear energy industry in the US in areas such as providing training instructors, plant operations and engineering, procedure writing, corrective action management and work management.

“GSE and Hyperspring have distinct client bases, creating a significant opportunity to cross-sell our respective products and services,” said Eberle.

In conjunction with the Hyperspring acquisition, GSE Power also acquired a 50 percent interest in IntelliQlik LLC, which is developing a software platform for online learning and learning management for the energy market.