Forsythe Acquires Paragon Solutions Group
North American IT Infrastructure Company Acquires Server and Storage Solutions Provider SKOKIE, Ill.--(Business Wire)-- Forsythe Solutions Group Inc., a 38-year old North American IT infrastructure integrator and a wholly-owned subsidiary of Forsythe Technology Inc., announced that it has acquired Paragon Solutions Group Inc., a leading provider of IBM server and storage solutions and IBM Premier Business Partner, headquartered in Denver, Colorado. Terms were not disclosed. As an IT infrastructure integrator, Forsythe is focused on taking care of its clients` infrastructure solution needs across a variety of technology challenges. This acquisition enhances Forsythe`s ability to provide IBM server and storage products and services. This transaction is Forsythe`s 6th major acquisition in the last 9 years. In 2008, Forsythe acquired the assets of More Group Inc., a leading data storage management integrator in Massachusetts. Previous acquisitions include St. Paul, Minnesota-based Information Security Technology (IST), a security solutions provider, in 2007; Atlanta-based National Business Group Inc. (NBG), a leader in networking integration of security solutions in 2004; the security and consulting services assets and contracts of Telenisus, a Chicago-based Internet security company in 2002; and Denver-based Enterprise Computing Inc. (ECI) in 2001. "Paragon`s IT infrastructure and migration expertise, service delivery methodology and technical depth provide its clients with solutions to increase profitability, productivity and efficiency. These capabilities, coupled with Paragon`s focus on long-term client relationships align well with the Forsythe culture," says Bill Brennan, president and CEO of Forsythe. "As one of the fastest growing and most respected partners within the IBM community, Paragon brings us a team that will strengthen our IBM server and storage offerings and our IBM services delivery capability, thus enhancing our ability to deliver cost optimization solutions to our valued clients." With 2008 revenues of $52 million and more than 20 employees, Paragon Solutions Group has grown rapidly since it was founded by president and CEO Haydn Hirstine in 2003. "Paragon has aggressive growth plans, and this partnership provides us with immediate scalability for our area of expertise throughout North America," says Hirstine. "In addition, we saw a lot of synergies between the two companies. We`re a proven expert at implementation, integration and migration services, and we`re actively building our front-end consulting practice. Forsythe is clearly a leader in the marketplace at front-end infrastructure-based consulting and assessment services, so it is a great fit for us." This past April, Paragon was awarded the prestigious 2008 Beacon Award for Outstanding IBM Power Systems Solutions by IBM. In 2007, Paragon was recognized on Inc. Magazine`s list of Fastest Growing Private Companies, ranked number 288 of 500. In addition to IBM, Paragon is a partner to and integrator for Network Appliance, VMware and CiRBA. Effective immediately, Paragon Solutions Group will operate as a wholly-owned subsidiary of Forsythe Solutions Group Inc. Haydn Hirstine will continue as president and CEO of Paragon Solutions Group, a Forsythe company. With the acquisition of Paragon, Forsythe`s workforce now numbers more than 920 people in more than 50 locations throughout the U.S. and Canada. About Forsythe Founded in 1971, Forsythe is an information technology infrastructure integrator. Forsythe helps complex organizations across all industries, including Fortune 1000 companies, optimize cost and manage risk while improving performance. Forsythe provides independent technology and business consulting services, technology leasing services, and value-added reseller services for all the leading technology product manufacturers. Headquartered in Skokie, Illinois, Forsythe employs approximately 920 people in more than 50 offices throughout the United States and Canada. Forsythe is privately held and 100-percent employee-owned. In 2008, Forsythe achieved its 38th consecutive year of profitability with revenues of $700 million. Forsythe McArthur Associates Inc., Forsythe Solutions Group Inc., Forsythe Federal Solutions Corp., Forsythe Technology Canada Inc. and Forsythe International Inc. are wholly-owned subsidiaries of Forsythe Technology Inc. For more information, visit www.forsythe.com. KemperLesnik Communications Allyson Marcus 312.755.3592 allyson.marcus@kemplerlesnik.com or Forsythe Technology Kyra Auslander 847.213.7178 kauslander@forsythe.com Copyright Business Wire 2009
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