Effective immediately, SOS Security will operate as a wholly owned subsidiary of Forsythe Technology and retain its name, Forsythe said Wednesday. As a result of the acquisition, Forsythe improves its security position in the market while SOS Security gets access to a larger products and services portfolio that covers the customer's entire IT infrastructure, said Forsythe president and CEO Bill Brennan.
"This acquisition will not only improve our position regionally, but their people, approach, and industry experience will be a terrific addition to our nationwide team as we continue to build a world-class IT integration firm," said David Poarch, vice-president of security solutions at Forsythe.
With expected revenues of over $40 million in 2012, SOS Security offers customized, business-focused products and services to enhance network security and performance, according to Forsythe. Customers choose SOS Security to "intelligently manage risk, maintain compliance, and protect their business from evolving threats," Forsythe said.
"We wanted to take security solutions to the next level for our clients and Forsythe's breadth and depth of offerings across the entire IT infrastructure allows us to do this," said Mark Jones, CEO of SOS Security. Jones will remain the CEO of the new subsidiary.
The deal allows Forsythe to expand the company's presence throughout the country, especially in the southwestern United States, Brennan said.
"As companies continue to build and manage hybrid data centers, security remains a top priority," said Brennan.
Financial terms of the deal were not disclosed.