Posted on October 26, 2010
Contact:
Josh K
Joshk@fusionstorm.com
415.623.2623
FusionStorm SELLS JESKELL DIVISION TO CONCENTRATE ON COMERICAL BUSINESS
Company will Drop Federal Sales to Focus on Expanding Commercial Business Across North America
San Francisco, CA – October 26th, 2010 – FusionStorm, today announced that it has sold most of the assets of Jeskell, the federal sales division of the company to the principals of CAS Saverne. The sale of the Federal division allows for bigger investments in sales, engineering and marketing within FusionStorm and a tighter focus with its core business technology partners around commercial business.
Terms of the all cash deal were not disclosed.
Daniel Serpico, President of FusionStorm stated, ”We have continued to realize record growth in our commercial business across the country and we decided that if we focus solely on this core business, we can deliver more value to our clients and our partners, while continuing growth and profitability.”
FusionStorm, was recently recognized by Everything Channel on the CRN Fast Growth 100 list. The list recognizes solution providers with growth rates in excess of 26 percent, average two-year revenue growth of 110 percent, and average annual sales of products and services of $120.8 million. The ranking is based on two years’ growth of net sales from calendar year 2007 to calendar year 2009.
FusionStorm was listed as #83, with 2009 revenues of $436 million and percentage growth rate of 34.39%.
About FusionStorm
FusionStorm – "Making Technology Work" – is a national provider of IT consulting, technology solutions and 24x7 managed services for enterprises of all sizes. The company assists organizations by providing complete solutions for system infrastructure, storage, networking, voice-over-IP communications, security, database, disaster recovery, virtualization, managed hosting, cloud computing and managed services, both onsite and in the data center.
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