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Slide #54. Sysorex Global Holdings Corp. — AirPatrol Corporation
Sysorex Global Holdings Corp. (SYRX)
Sysorex Global Holdings Corp. (NASDAQ:SYRX) ("Sysorex"), an emerging growth technology company, today announced that it has completed the acquisition of AirPatrol Corporation ("AirPatrol"), a developer of location-based cybersecurity and commercial services systems for mobile devices, for $30 million consisting of $10 million of common stock, $10 million in cash (before working capital adjustments), plus an earn-out of up to $10 million in cash and stock based on AirPatrol achieving certain profitability levels. 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 and locate smartphones, tablets, laptops and other mobile devices. AirPatrol has become a subsidiary of Sysorex and will retain its management and operations.
Sysorex Global's products and services include: LightMiner Analytics Platform for aggregating and mining Big Data sets; Data Science and Advanced Analytics Consulting Services; AirPatrol for Security that locates devices operating within a monitored area; AirPatrol for Retail for enabling location, marketing services and information delivery; Shoom Product Line, which include eTearsheets, eInvoice, AdDelivery, ePaper; Enterprise Infrastructure Solutions and Services; and IT Services. Co. also provides supporting products and services including enterprise computing and storage, virtualization, business continuity, data migration, and custom application development, among others.
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Strong Buy (4.00 out of 4)
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