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| SYS Technologies Announces Acquisition of Ai Metrix SYS Technologies has acquired Ai Metrix, a provider of network management solutions, for approximately 3.1 million shares of SYS common stock and the potential for additional consideration based on the achievement of certain future financial objectives. Based in Reston, Virginia, Ai Metrix, which has 42 employees, all of whom will be staying with the company, will be operated as a wholly owned subsidiary in the SYS Public Safety, Security and Industrial Systems Group. Ai Metrix's revenues for the nine months ended September 30, 2006 were approximately $5.8 million. The transaction is anticipated to be accretive to the earnings of SYS. Ai Metrix's flagship product is NeuralStar – a network management platform that provides real-time network monitoring, analysis of performance metrics and captures, correlates and stores performance and alarm events for various network devices. This next-generation network management platform has become a key solution for converged enterprise networks and is the core network management platform for the Department of Defense's backbone network, known as the Global Information Grid (GIG). The acquisition will expand SYS's customer base. In the military markets, the combined company will now have a customer base that includes major programs across the Department of Defense, the individual armed services, Joint Command, and the National Guard. Ai Metrix's current commercial customers include communications service providers and technology companies such as Cincinnati Bell, Broadwing and Microsoft, and will broaden SYS's commercial customer base. Philip Trahanas, an Ai Metrix board member, will join the SYS board of directors in connection with the transaction. SYS's board of directors has increased to nine members. Mr. Trahanas is a managing director of General Atlantic, a global private equity firm with $10 billion under management. Trahanas joined General Atlantic from Morgan Stanley in 2000, where he was a member of the High Technology Corporate Finance Team and a Merger and Acquisition specialist. Before Morgan Stanley, Trahanas was an electrical engineer at General Electric, where he specialized in communications equipment and semiconductor design. Trahanas has a B.E. in Electrical Engineering from The Cooper Union for the Advancement of Science and Art, an M.B.A. from the University of Pennsylvania's Wharton School and an M.S. in Engineering from the Moore School of Engineering. He holds director positions at A-Max Technology and PowerDsine. USBX Advisory Services, a Santa Monica, Calif., based investment bank with specialized security and government services practices, served as exclusive financial advisor to SYS for this transaction. write your comments about the article :: © 2006 Computing News :: home page |