Sysorex adds IT integration, engineering capabilities through $1.8M deal
- By Mark Hoover
- Nov 15, 2016
Sysorex has acquired Integrio Technologies in a $1.8 million deal that brings IT integration and engineering capabilities focused on government customers to Sysorex.
Sysorex is also selling 530,000 shares of common stock and assuming approximately $3 million in net liabilities and up to $1.2 million in earn-out payments to be paid over three years.
Herndon, Va.-based Integrio provides network performance, secure wireless infrastructure, software application lifecycle support, and physical cyber security, supporting the missions of federal, state and local government agencies.
The company has about 40 employees and has generated more than $40 million per year in revenue for the past two years, Sysorex said in a release.
“We believe that the purchase of Integrio’s federal government contracts including FBI ITAP; Bureau of Prisons; U.S. Army ADMC2; Department of Justice ITSS; and others will enhance Sysorex’s Storage and Computing and Professional Services business segment offerings for key government customers,” said Sysorex CEO Nadir Ali in a release.
“With the overall slowdown in the commercial [value-added reseller] business segment, we have begun shifting our focus to bid more aggressively on government contracts like SEWP/CIO-CS and this acquisition allows us to balance our mix of public and private sector customers with a broader capability in an area of our business that continues to show measured growth,” Ali said.
Mark Hoover is a senior staff writer with Washington Technology. You can contact him at email@example.com, or connect with him on Twitter at @mhooverWT.