Haystax Technology, a portfolio company of the Edgewater Funds, has acquired FlexPoint Technology. This acquisition extends Haystax products and services in defense and intelligence markets and marks the second add-on acquisition for the company.
Haystax provides information integration, data analytics and visualization services used to process data in the intelligence, defense and security sectors. The company is based in San Jose, CA (www.haystaxtechnology.com).
FlexPoint Technology is an IT professional services company that provides cloud computing and enterprise content management services to government customers with demanding security requirements. Services provided include identity management, secure collaboration services, infrastructure management and application development. Following the acquisition, FlexPoint will continue to be led by its president, David Conrad. The company is based in Reston, VA (www.flexpointtech.com).
“The addition of FlexPoint Technology’s cloud computing and security services perfectly complements our existing capabilities in big data analytics and mobile solutions. This combination results in a full spectrum of products and services with expertise in each of the four technology forces that are revolutionizing government and private industry,” said Haystax Technology CEO, William Van Vleet.
The Edgewater Funds invests in companies with revenues from $20 million to $500 million and EBITDAs from $5 million to $30 million. Sectors of interest include business services, financial and government services, consumer products and services, health care services, IT services and software and basic industries. The firm has $1.4 billion in committed capital and is based in Chicago (www.edgewaterfunds.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-8-13