Palo Alto, California-based analytics firm Sysorex (Nasdaq: SYRX) has agreed to purchase certain assets of information technology services provider Integrio Technologies in a move to add new contracts and clients to Sysorex’s professional services and government value-added reseller business segments.
Sysorex said Wednesday the total transaction price includes $1.8 million cash; 530, 000 shares of common stock; $3 million in assumed net liabilities; and $1.2 million in potential earn-out payments over a three-year period.
Herndon, Virginia-based Integrio provides network performance, wireless infrastructure, software application lifecycle support, and physical cybersecurity support services to agencies at the federal, state and local levels.
Sysorex CEO Nadir Ali said the company will have access to various federal contract vehicles such as the FBI‘s IT Acquisition Program, the U.S. Army‘s Desktop and Mobile Computing-2, the Justice Department‘s Information Technology Support Services under the asset purchase agreement with Integrio.
“We have begun shifting our focus to bid more aggressively on government contracts… and this acquisition allows us to balance our mix of public and private sector customers, ” Ali added.
The deal presents Sysorex with additional opportunities to market the company’s AirPatrol and LightMiner platforms to Integrio’s client base.