Closed Deal: Cybersecurity

International Business Exchange (IBEX) announces the sale of Alabama-based Syntervision, the developer of robust SME cybersecurity solutions (XDR, SIEM and SOAR), in addition to a 24/7 Security Operations Center (SOC). IBEX assisted in the sale of the company which closed on January 31, 2022.

Syntervision was purchased by Airiam, a newly formed managed IT and Digital Transformation company with a strong focus on cybersecurity. In a separate transaction Airiam also acquired Wisconsin-based Transcendent. These acquisitions extend Airiam’s position as a leading provider of best-in-class IT management and cybersecurity platforms and affirm Airiam’s commitment to offering more value by delivering enterprise-grade technology, cyber protection and digital transformation services to SMEs.

Terms of the deals were not disclosed, but Airiam now stands at 109 employees, providing IT and cybersecurity services to more than 500 companies.

“We are thrilled to bring Syntervision’s IT and cybersecurity platform along with Transcendent’s flexible suite of IT and cloud-based solutions to the Airiam organization. Airiam is pioneering an approach to enterprise products that scale the IT and cybersecurity needs of SMEs, and we will soon be announcing a unique offering to the SME market,” said Ohad Jehassi, Airiam’s CEO.

Jehassi added, “There is much confusion about the needs of small and mid-sized businesses in the cybersecurity market. These firms are more exposed to risk yet have fewer resources available to manage it. We strive to simplify technology services and pricing models for our customers to ensure they have the right managed IT and best cyber protection. These acquisitions will be instrumental in creating a world-class family of Airiam products and platforms to manage IT and digital transformation that protects and serves our SME customers.”

Airiam boasts an experienced C-suite with deep operational expertise in the MSP and MSSP industries. The team brings a unique combination of operations, sales and marketing, investment, integration and execution to the organization. Having held C-suite positions in private equity-backed companies, Airiam’s leadership team has demonstrated great success growing enterprise values north of 10x.

“We’re excited to bring Syntervision and the Oasis Platform under the Airiam brand. The platform is a fully autonomous, fully cognitive software solution that digitally transforms SMEs’ network service and security operations teams,” said Elliot Luchansky, Airiam’s president and co-founder. “SMEs are faced with ever-increasing demands to keep up with digital transformation. The addition of Syntervision will allow our customers to better automate and scale their enterprise IT Operations. Syntervision’s expertise is exactly what we need to make Airiam even stronger.”

IBEX President, Charles Harvey, served as advisor throughout the acquisition process coordinating buyer/seller communications, counseling Syntervision president, Greg Elmore, coordinating document preparation and assisting in the due diligence activity. IBEX was involved in developing documentation and timelines with the buyer, seller and other deal professionals.

“I cannot overemphasize the value of the experience IBEX brought to the table. I had top attorneys and accountants working with me throughout the process, but no one provided constant mentoring or negotiated on my behalf and helped me understand the process and what I should expect the way IBEX did. They do not replace attorneys and accountants, but their knowledge and experience of financials and business acquisition provided the greatest assistance maneuvering through this process,” said Elmore.

About IBEX

International Business Exchange is one of the nation’s most respected full-service merger and acquisitions firms. Opening its doors in 1979, IBEX has listed and sold businesses with annual sales up to $100 million. IBEX associates provide business acquisition expertise and guidance with lenders, accountants, attorneys and other professionals. IBEX participation helps avoid costly mistakes and reduces transaction expenditures to get maximum value for its clients. Successful outcomes are created by the IBEX associates listening, understanding and communicating the seller’s goals. IBEX’s dedicated advisors’ responsibility is to see the transaction from listing through close, helping sellers walk away with the maximum value for their life’s work.

IBEX promotes businesses for sale with complete confidentiality. IBEX works with sellers to create a professional presentation package which includes financials, a business overview and a seller interview video. IBEX places advertising on business acquisition opportunities in key merger and acquisition outlets including industry leading websites, local and national newspapers and strategic trade publications. IBEX screens buyer inquiries to develop an optimal buyer for a business sale opportunity.

IBEX is a member of the International Business Brokers Association, Merger and Acquisition Source and the Texas Association of Business Brokers.

About Airiam

Airiam provides businesses with best-in-class managed IT and cybersecurity solutions, including AirGuard™, a bundled suite of IT and cybersecurity software and services offered at per-user monthly plans. Airiam’s managed IT services are scalable, agile and robust for all business types. With Airiam, businesses benefit from on-demand responses 24/7/365 and reduced workloads of in-house teams. Learn more at Airiam.com.

Prior to purchasing IBEX, Chuck Harvey spent 35 years as CEO, CFO and consultant to the Fortune 500, Middle Market, Mainstreet and in the Start-up community, including spending time at PepsiCo & Price Waterhouse Coopers. During that time, Chuck oversaw three dozen buy-side / sell-side transactions on three continents, including a $35M sale of a Texas digital photography pioneer to a $1 Billion Japanese conglomerate.

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About Airiam

Airiam provides businesses with best-in-class managed IT and cybersecurity solutions, including AirGuard™, a bundled suite of IT and cybersecurity software and services offered at per-user monthly plans. Airiam’s managed IT services are scalable, agile and robust for all business types. With Airiam, businesses benefit from on-demand responses 24/7/365 and reduced workloads of in-house teams. Learn more at Airiam.com.

Chuck Harvey | President

IBEX Business Exchange | M&A Advisors

512-310-2966 – Office Main 512-531-6114- Office Direct 14205 Burnet Road, ste 640 Austin, Texas 78728