SOURCE: Sysorex Global Holdings Corp.
SANTA CLARA, CA--(Marketwired - Jan 6, 2014) - Sysorex Global Holdings Corp. (PINKSHEETS: 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.
About Sysorex Global Holdings
Through focused, custom technology solutions, Sysorex provides cyber security, data analytics, custom application development, cloud solutions, Mobile/BYOD solutions and strategic outsourcing to government and commercial clients in major industries around the world. From identifying security risks to helping clients realize value from their Big Data strategies, Sysorex has the experience, technology, partners, and agility to be your Trusted IT Partner. Visit www.sysorex.com, follow @Sysorex and Like us on Facebook.
About AirPatrol Corporation
AirPatrol is a developer of mobile device identification and locationing systems. Its flagship product, ZoneDefense, is a security platform for wireless and cellular networks that can detect, monitor and manage the behavior of smartphones, tablets, laptops and other mobile devices based on their location. Headquartered near Washington, DC, AirPatrol has regional offices in San Diego, California, Vancouver, Canada, Sydney, Australia and Sao Paulo, Brazil. AirPatrol customers include numerous government and military agencies and large enterprises around the globe. For more information on AirPatrol Corporation and its products call 410-290-3446, email: email@example.com or visit http://www.airpatrolcorp.com.
This press release contains forward-looking statements, particularly as related to, among other things, the business and acquisition plans of Sysorex, statements relating to goals, plans and projections regarding Sysorex's financial position and business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and documents that we post from time to time with the OTC Disclosure & News Service which are available for review at www.otcmarkets.com. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Sysorex cautions readers not to place undue reliance on such statements. Sysorex does not undertake, and Sysorex specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Sysorex's expectations and estimates.