Evolve IP combines strong organic growth with strategic acquisition strategy in purchase of VoIP solutions provider
WAYNE, Pa. — June 2nd, 2008 — Evolve IP today announced it has acquired Lyrio IP Technology Solutions, a well-respected and successful Philadelphia-based provider of IP technology products and services for small-to-mid-sized businesses (SMBs). The cash and stock transaction further signifies Evolve IP’s plan to combine their strong organic growth with the active pursuit of targeted acquisitions and strategic partnerships.
Lyrio’s customer base, which consists of SMBs, school districts and government offices across the mid-Atlantic region, will now have access to Evolve IP’s complete suite of enterprise-class managed technology services, including Managed Telephony, Managed Network Services, Network Security & Compliance Services, and Hosted Applications.
“We look forward to integrating the experienced and knowledgeable staff of Lyrio into our team, and developing strong and valuable relationships with their customers,” said Thomas Gravina, Chairman, CEO and Co-Founder of Evolve IP. “This acquisition is a reflection of our balanced growth strategy of strong organic growth and targeted, strategic acquisitions which add long-term value to our organization.”
Evolve IP will assume Lyrio’s position as a Mid-Atlantic reseller of ShoreTel products. The Company will also assume responsibility for all maintenance contracts, services, and support for ShoreTel, and will continue to market ShoreTel products. Lyrio co-founder Howard Hoffman, a 25-year telecom industry veteran who served as Executive Vice President of Sales, will join Evolve IP as a Senior Sales Executive. Prior to founding Lyrio in 2006, Hoffman served as Sales Director of Interchange Technologies, Inc., a voice and video systems integrator.
“This is a complementary acquisition for us,” said Guy Fardone, Chief Operating Officer of Evolve IP. “Both companies are focused on providing world-class IP services to small and mid-sized businesses. We are very pleased to add Lyrio’s customers, vendors and seasoned team of VoIP sales, field, and support professionals to Evolve IP.”ABOUT EVOLVE IP
Evolve IP is a Managed Technology Provider that has created a new way for businesses to purchase, manage, and secure the technologies they use to communicate. With a broad range of expertise and a suite of services that includes Managed Telephony, Managed Network Services, Network Security & Compliance Services, and Hosted Applications, Evolve IP can partner with businesses of all sizes to provide a complete solution to turn their vital communications technologies into a competitive advantage. Evolve IP enables today’s workforce to realize increased productivity through feature-rich service offerings and significantly improved security and stability achieved through geographically diverse Technology Centers and 24x7 professional management, all of which is delivered with greater simplification and a lower Total Cost of Ownership. More information about Evolve IP is available on the Web at http://www.EvolveIP.net.