Sysorex Announces the Closing of Integrio Acquisition
PALO ALTO, Calif., November 29, 2016 – Sysorex (NASDAQ: SYRX), a developer of high performance analytics software and solutions, is pleased to announce 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.
Sysorex develops the systems and solutions that power the data-driven enterprise. With an innovative approach to big data, analytics and the Internet of Things (IoT), we blend virtual data from software and networks with the huge volume of physical data generated by mobile devices and Internet-connected things to open new worlds of insight. Our unique solutions are helping organizations worldwide improve decision making, increase productivity, and fuel the discoveries of tomorrow. Headquartered in Palo Alto, California, we have regional offices in North America, South America, Europe and the Middle East. Visit www.sysorex.com, follow us @SysorexGlobal and Link up on LinkedIn.
Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Sysorex and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of global economic conditions, the performance of management and employees, the company’s ability to obtain financing, competition, general economic conditions and other factors that are detailed in the company’s periodic and current reports available for review at www.sec.gov. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements.
Sysorex Investor Relations:
Scott Arnold, +1 (516) 222-2560