Monday, July 20, 2009

INX Buys North Carolina Firm

Houston-based INX, which provides data center and network infrastructure services, announced Monday that it has acquired Raleigh, North Carolina-based AdvancedNetworX, which provides network consulting. The deal was worth approximately $395,000, based on mid-day trading of INX on the Nasdaq, or $385,000 in cash and 2,000 shares of INX common stock. INX said that AdvancedNetworX had revenues of approximately $1.6M for the 12 months ended June 30, 2009, and has 12 employees. INX said the buy was part of its growth strategy into the mid Atlantic region.