Sysorex Announces Completion of Debt Refinancing & Integrio Technologies Acquisition
MSK client Sysorex (Nasdaq: SYRX) ("the Company"), a developer of high performance analytics software and solutions, announced on November 29, 2016, 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. The acquisition was funded with the proceeds received in connection with the concurrent closing of a $10 million debt refinancing with GemCap Lending I, LLC.
The Integrio asset purchase is a significant addition to the Company’s Professional Services and Government VAR business segments which:
- Strengthens the Company’s 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.
MSK served as Sysorex’s legal counsel in both transactions and was led by Melanie Figueroa, Managing Partner of the firm’s New York office and member of the Corporate & Business Transactions Department. The MSK team also included Marc Jones, Tony Adler, Gabrielle Napolitano, Siyuan An, and Louisa Zhou. MSK International Trade Practice Chair Susan Kohn Ross advised on regulatory matters pertaining to any government contracts involved in the acquisition.
Doug Gold, Chief Marketing Officer