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OpSource Acquires Space4Rent.Com, LLC Managed Services Business
Third Acquisition in 11 Months Expands Business Operations in Southern California
SANTA CLARA, Calif., -- May 21, 2003 -- OpSource, Inc., a next-generation IT infrastructure services company, announced it has acquired the managed services business of Space4Rent.com, LLC (S4R). The transaction will strengthen the eleven-month old company's operations in Southern California and add 18 companies to its customer portfolio.
Under the terms of the agreement and effective immediately, OpSource assumes full responsibility for servicing S4R customers including One2One Group, Remedy Staffing, The Corporation for Standards and Outcomes (CS&O), and Western Digital. S4R employees will be joining OpSource's Southern California operations team. Because S4R customers will continue to receive their existing services from their current support teams the transition to OpSource will be completely transparent. Going forward S4R customers will have access to the broader range of IT infrastructure services offered by OpSource with support provided by the 24/7 OpSource Customer Care Center as well as from their dedicated operations team.
"Because our companies share a common business model and a passion for delivering quality services, OpSource is able to transition S4R customers without changes or interruptions to services," said Treb Ryan, CEO and co-founder of OpSource. "We are able to quickly and effectively combine our two operations, strengthening our business efforts in Southern California and creating an IT operations infrastructure services company with the scalability, focus and experience Global 2000 companies demand."
Acquisition Strategy Key to Delivering Value in Today's Challenging Economy
In today's economic environment, some of the best opportunities to create value for customers, employees and shareholders are through the consolidation of services assets. Prior to acquiring S4R, OpSource completed two other acquisitions, successfully integrating the operations of Accelica, a leading managed services provider (MSP) based in California, in November 2002 and EYT's Managed Services Group in February 2003. In just eleven months, through carefully planned acquisitions and direct sales efforts, the company has grown to more than 48 customers, 60 employees, and operations in four U.S. metropolitan markets. Some of the companies utilizing OpSource IT services include Johnson Controls, Microsoft, Nuvelo, Paramount Digital Entertainment and Walden Media.
About S4R
Founded by a management team with prior experience at industry-leading companies such as IBM, Qualcomm, AT&T and MTI Corp, S4R provides "netsourcing" solutions, encompassing co-location and a full suite of managed IT services for companies on a fast growth track. Similar to OpSource, S4R uses a monthly fee-based utility model which is an ideal solution for companies that cannot justify the cost of buying hardware or building a qualified IT organization to maintain Internet-related systems. Customers are able to quickly scale system requirements to accommodate the rapidly changing e-business environment.
About OpSource
OpSource is a next-generation IT infrastructure services provider to Global 2000 companies. The company combines innovative technologies, proven processes and experienced people to create services that are flexible enough to suit a company's specific business needs and yet deliver real, predictable and measurable value to a company's business operations. The company is headquartered in Santa Clara, CA with additional operations in Los Angeles, New York City and Chantilly, VA. For more information about OpSource, visit the company's web site at opsource.net
