SALINA, N.Y. — CXtec on Tuesday announced the acquisition of Atlantix Global Systems, a Norcross, Georgia–based reseller of new, reconfigured and refurbished information-technology (IT) equipment.
CXtec, the d/b/a name of CABLExpress Corp., didn’t release any terms of its acquisition agreement.
The purchase could create as many as 25 new jobs in Central New York, Peter Belyea, CEO of CXtec, said in a news release.
(Sponsored)
What is Fiducuary Liability and how does it affect you and your business?
Managing a company’s insurance needs can be complex and stressful. It doesn’t need to be when adding certain specialty insurance products, like fiduciary liability insurance. It protects the sponsoring company;
The Importance of Relationship Banking for Small Business Success
Small business owners wear many hats. Each day can bring on new challenges requiring valuable time and focus – especially in the competitive economic environment we live in today. The
“We believe this acquisition creates an industry-leading and dynamic organization that places us in a position to maximize the market,” Belyea contended. “As a full-service IT-lifecycle management company, we will strengthen the value we bring to our customers. The dedication and collective talent of our teams, reputations, and systems will create tremendous opportunities for both organic and inorganic growth.”
The addition of Atlantix, which employs 110, accelerates CXtec’s “growth strategy” by adding server/storage products to its equal2new brand; strengthening its RapidCare offering; and allowing the company to enter the enterprise IT asset disposition (ITAD) space, said Belyea.
Belyea will be the CEO of the combined company, which will retain its world headquarters in Salina. Brian Glahn will remain president of Atlantix, whose operations will continue in Atlanta, focusing on the expansion of its server/storage and ITAD segments.
“We believe that Central New York is a great place for us to grow our business and remain committed to the community. As the integration progresses, we anticipate adding additional positions throughout the organization. The exact number of new jobs that will be created is yet to be determined, but we currently believe it will be in the 20 [to] 25 range,” Belyea said.
CXtec’s acquisition announcement comes nearly a year after an affiliate of H.I.G. Capital, a Miami, Florida–based investment firm, acquired a “majority interest” in CXtec and sister company TERACAI Corp. in late August 2016.
H.I.G. Capital is a private equity and alternative-asset investment firm.
Contact Reinhardt at ereinhardt@cnybj.com
