Wanut Creek, CA, April 2, 2014 -- Vology, Inc, a $170 million North American technology solutions provider, has acquired the Irvine California-based state, local, and education (SLED) division of Govplace, a Reston, Virginia-based value added reseller (VAR) and solution provider to the federal government.
"The acquisition of Govplace's Irvine division is a key building block in Vology's three year growth strategy that includes investment in key geographies. California is Vology's second largest market and one of the fastest growing," says Barry Shelvin, Vology CEO.
Facilitated by IT ExchangeNet, the transaction was the result of Govplace leveraging ExchangeNet's international network of strategic buyers and private equity investors.
According to Adam Robinson, CEO of Govplace, "The ExchangeNet network was critical to completing this transaction. The team confidentially socialized our blind profile with more than 400 strategic buyers and private equity firms throughout North America. This outreach immediately generated strong interest, allowing us to close the transaction in under 75 days. IT ExchangeNet was efficient, effective, and extremely professional."