Originally published by AirPatrol Corporation on Jan. 6, 2014.
Acquisition of AirPatrol is expected to give Sysorex foothold in high growth mobile device security and location-based services markets
Sysorex Global Holdings Corp. (OTC: SYRX) (“Sysorex”), a developer of leading information technology solutions today announced that it has signed a definitive Agreement and Plan of Merger (“Merger Agreement”) to acquire AirPatrol Corporation (“AirPatrol”), a mobile location-based cybersecurity systems company. Based in Maple Lawn, Maryland, AirPatrol has 4 U.S. and 11 foreign patent applications pending for its location, security and context awareness systems that can detect smartphones, tablets, laptops and other mobile devices. Upon the closing of the Merger Agreement, AirPatrol will become a subsidiary of Sysorex and retain its management and operations.
Pursuant to the Merger Agreement, the AirPatrol acquisition is to be completed no later than February 28, 2014. The closing of the acquisition is subject to a financing contingency. The acquisition would mark the third acquisition for Sysorex since the beginning of 2013 and is expected to further its move towards becoming an intellectual property based company providing technology solutions. In May, 2013 Sysorex acquired Lilien Systems, an IT infrastructure and solutions provider based in Larkspur, California. In August, 2013, Sysorex acquired Shoom, Inc., a developer of cloud-based data analytics and enterprise solutions.
“We expect the synergy between AirPatrol and our other companies to strengthen Sysorex’s industry position as a technology developer and provider,” said Sysorex CEO, Nadir Ali. “We expect the addition of AirPatrol to the Sysorex family to allow for the development of powerful solutions, integrating three of the highest growth sectors in technology—Big Data, cyber security and mobile computing—which would substantially augment our customer offerings,” he continued.
“We are excited about our agreement to join the Sysorex team and add our mobile and cybersecurity expertise to the Sysorex group of companies,” said Cleve Adams, CEO of AirPatrol. “We plan to incorporate Sysorex’s Big Data capabilities into our mobile platform.” he added.