Synoptek Buys Managed IT Services Business From FusionStorm
The companies said the deal will help meet growing demand for cloud-based "as-a-service" technology and hosted solutions.FusionStorm, a provider of IT consulting, technology solutions and cloud and managed services, announced it is selling off its managed IT services and cloud solutions business to Synoptek, a specialist in these two areas. Terms of the agreement were not disclosed, but a joint statement from the companies said the partnership will help meet growing demand for cloud-based "as-a-service" technology and hosted solutions to support on-premises systems. The two companies' cloud and managed services businesses will be combined into a new entity, and FusionStorm will have an equity stake in the new entity, which will operate under the Synoptek brand. FusionStorm CEO Dan Serpico will hold a seat on the Synoptek board. "We believe this partnership with Synoptek will significantly benefit both companies and our mutual customers," Serpico said in a statement. "Synoptek is laser-focused on managed services and cloud solutions, with a global team and delivery infrastructure that provides a world-class customer experience. This partnership will enable us to deliver an enhanced managed services offering while continuing to build upon our expertise in enterprise-class data center infrastructure."
FusionStorm said it plans to use the proceeds from the transaction to continue its growth and investment in personnel, operations and new solution offerings. FusionStorm will focus these investments on its core business in data center infrastructure, Integration Centers and international logistics services.