SYS Technologies buys Reality Based IT Services
SYS Technologies Inc. has acquired Reality Based IT Services Ltd. in a $9.5 million cash and stock deal intended to expand its secure network solutions capabilities.
SYS Technologies Inc. has acquired Reality Based IT Services Ltd. in a $9.5 million cash and stock deal.
The acquisition was made to expand SYS Technologies' secure network solutions capabilities. The San Diego company also plans to leverage RBIS' expertise in developing enhanced security features into its growing family of emergency response and video surveillance products.
RBIS Ltd. of Laurel, Md., develops, implements and maintains convergent security services. The company, which reported annual revenue of $8.4 million for calendar 2005, works with the Defense Department, intelligence community and National Command Authority.
Following the acquisition, RBIS will be operated as a wholly owned subsidiary in the SYS Defense Solutions Group operating segment.
SYS Technologies has more than 375 employees and had annual sales of $45.8 million in fiscal 2005, according to Hoover's Online of Austin, Texas.