(800) 664-9973
OpSource Acquires Global Network Solutions
Sixth Acquisition in Fourteen Months Brings Marquee Customers and New Chicago Operations Center
SANTA CLARA, Calif., -- February 2, 2004 OpSource, Inc., a next-generation IT infrastructure services company, announced it has acquired Chicago-based Global Network Solutions, Inc. (GNS), an information technology consulting organization, in an all cash transaction. This is the sixth acquisition completed in the past fourteen months by OpSource. The transaction establishes an OpSource presence in the Midwest and adds fourteen customers including Best Buy, Tribune Media, WW Grainger, Chicago Board of Trade and McDonnell Investment Management, LLC. All GNS employees, including Ed Kramer, GNS Managing Partner, will be joining OpSource and will continue to operate from their Chicago offices.
"While GNS is a relatively new company, we have grown rapidly as a result of our ability to combine technical expertise with a commitment to maintaining the highest level of customer satisfaction," said Ed Kramer, GNS Managing Partner. "We view our acquisition by OpSource as a joining of similar cultures and values that will result in accelerated growth and expansion of services for our customers."
"The GNS combination of technical expertise, regional sales knowledge and a solid customer base will make an immediate contribution to OpSource," said Treb Ryan, CEO of OpSource. "And the ease with which we are integrating GNS and its customers into OpSource is further validation of the investment we have made in proprietary infrastructure to facilitate our M&A activities."
Seamless Transition
Under the terms of the agreement and effective immediately, OpSource assumes full responsibility for servicing GNS customers. Existing customers will continue to receive, without interruption, their currently contracted services delivered by the same engineers with whom they have been working. This will insure a transparent and seamless transition.
Acquisitions Complement Direct Sales In Customer Acquisition Strategy
OpSource has successfully combined aggressive M&A and direct sales to generate three hundred percent run-rate revenue growth over the past twenty months. In addition to Global Network Solutions, OpSource acquired Accelica in November 2002, EYT's Managed Services Group in February 2003, Space4Rent, LLC in May 2003, Quadrix Solutions in May 2003 and the UK managed services business of a US network infrastructure services provider in November 2003. OpSource anticipates M&A transactions plus direct sales in 2004 will again triple its run-rate revenue.
About GNS
Global Network Solutions (GNS) is a Chicago Metro based Information Technology consulting organization focused on delivering world-class support to its clients through the experience and talent of its people. Its mission is to deliver the experience and talent required by many customers to augment their internal resources. GNS is committed to delivering cost effective solutions in a timely manner while focusing on customer service and delivery. Visit the company's web site at www.gns-group.com.
About OpSource
OpSource is a provider of direct and private-label IT infrastructure services to global 2000 companies. It combines innovative technology, best practices and experienced personnel to deliver services of higher quality and at lower cost than enterprises, government agencies and infrastructure providers can do themselves. OpSource SigmaCenter services range from complete technical staffing solutions for independent and corporate data centers to complex managed hosting solutions for the enterprise. The company's SigmaSystem services include the IT Infrastructure technology and services necessary for operating and managing every layer of a company's application infrastructure - from provisioning and deploying the physical networks and servers in the data center up to, and including, security, maintenance and performance optimization of customized applications.
The company is funded by Artiman Ventures and ComVentures. It is headquartered in Santa Clara, CA with additional operations in Southern California, New York City, Piscataway, NJ, and Chantilly, VA. For more information about OpSource, visit the company's web site at opsource.net.
