05/07/2013 (press release: wvanvleet) // San Jose, California, United States of America // James Doyle
Haystax Technology, Inc. (Haystax), a portfolio company of the Edgewater Funds, today announced the acquisition of FlexPoint Technology, LLC. Haystax provides multi-source information integration, big data analytics and visualization to address the challenges posed by exponential increases in data volume to customers in the intelligence, defense and security communities. The FlexPoint acquisition extends Haystax products and services in defense and intelligence markets and marks their second acquisition in three weeks.
FlexPoint Technology is a professional services company providing private and public cloud solutions that deliver secure collaboration and application development capabilities to security-demanding environments. Defense and intelligence community customers rely on FlexPoint solutions to rapidly deploy secure cloud computing environments for substantial improvements in performance and reduced operating expenses. FlexPoint software and engineering services deliver custom mission applications and manage internal users and external partners, ensuring the right people have the right information to make the right decisions
Haystax Technology CEO, William B. Van Vleet, said, “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.”
FlexPoint Technology President, David Conrad, added, “Haystax Technology provides additional capabilities and resources in real-time analytics and mobile solutions to extend the range of our capabilities for our clients’ critical missions. Joining this team strengthens our overall capabilities and provides an outstanding cultural match for our employees and customers.”
Following the acquisition, FlexPoint will be known as FlexPoint Technology, a Haystax Company, and will continue to be led by its president, David Conrad. The terms of the transaction were not released.
About FlexPoint Technology, LLC
FlexPoint Technology is a Virginia-based IT professional services company that specializes in delivering cloud computing and enterprise content management services to government customers with extremely demanding security requirements. FlexPoint solutions leverage commercial off-the-shelf technology to deliver identity management, secure collaboration services, infrastructure management and application development. Visit FlexPoint on the Web at www.flexpointtech.com
About Haystax Technology
Haystax Technology, Inc. provides next generation products, systems and service solutions to sift, refine and analyze large, disparate and unstructured volumes of data to reveal undiscovered connections and enable precise, actionable intelligence for government and commercial market clients. In essence, these technologies allow users to find “the needle in the haystack” quickly and reliably. For further information about Haystax Technology, visit our website at www.haystaxtechnology.com.
About The Edgewater Funds
The Edgewater Funds is a Chicago-based private equity firm with $1.4 billion in committed capital. Edgewater Growth Capital Partners with management to help accelerate growth in their businesses. Edgewater focuses on funding high quality middle market companies where we can add substantial value through our capital, our experience and our broad network. Edgewater leverages the experiences of its Partners and Advisory Board who have distinguished themselves as successful CEOs and business leaders.