Sysorex (SYRX) Announces Completion of Integrio Technologies Acquisition
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Sysorex (Nasdaq: SYRX) announced that it has completed the acquisition of certain assets of Integrio Technologies, an IT integration and engineering company providing cutting-edge solutions for federal, state and local government agencies, subject to novation of certain state and federal government contracts. “We are pleased to welcome the Integrio team to the Sysorex family. As represented by Integrio and reported by Sysorex, on a consolidated proforma basis for the trailing twelve-month period Sysorex and Integrio would have had revenue of over $100 million” *, stated Sysorex CEO, Nadir Ali. “This acquisition is a vital piece of our overall strategy to strengthen our Government relationships and open opportunities to introduce security and intelligence solutions with AirPatrol and LightMiner”, stated Sysorex CEO, Nadir Ali.
The Integrio asset purchase is a significant addition to our Professional Services and Government VAR business segments which:
- Strengthens our Storage and Computing and Professional Services offerings for key Integrio government customers including FBI ITAP; Bureau of Prisons; U.S. Army ADMC2; Department of Justice ITSS and other federal government contracts.
- Strategically addresses an ongoing VAR industry imbalance with a broader capability in network performance, secure wireless infrastructure, software application lifecycle support, and physical cyber security that continues to show measured growth.
- Enables Sysorex to derive smoother revenue and cash flows, and creates broader cross selling opportunities for our defense-grade AirPatrol sensor and LightMiner data analytics solutions to a wider range of government customers.
“Joining Sysorex is an exciting opportunity for Integrio,” states Barry Culman, CEO of Integrio. “I am enthusiastic about the increased products, services, and capabilities the new ownership will provide our customers and vendors, and excited about the new opportunities for growth it will provide Integrio employees. It has been a privilege to lead Integrio to this point; I am proud of its accomplishments to date, and am confident in the success it will find under the Sysorex management team.”
* Represents amounts reported by Integrio in its unaudited financial statements for the period from October 2015 to September 2016.
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