Wheelings & Dealings: Integrated Research Acquires IQ Services for $1.5 Million
Integrated Research (IR), a provider of performance management software for IT, payments and communications systems, has announced that it has acquired IQ Services for $1.5 million.
"This acquisition is truly exciting as it strategically positions Integrated Research to progressively expand into new technological markets by providing a unique and fully integrated proactive management architecture as well as leveraging our existing customers and markets with substantial new offerings," IR chairman Steve Killelea said.
The acquisition will be complete in July. In addition to the $1.5 million that IR is paying for IQ, there will also be additional earn-out payments based on the company’s earnings for up to $3.5 million. This will bring the total possible price that IR could pay up to $5 million. IR will pay for the acquisition out of its own cash reserves.
The acquisition will give the company access to the only fully integrated systems management and testing suite for Avaya, Cisco and Microsoft Lync/Skype for Business. It will also give IQ an international reach, as on its own it currently only operates in North America.
IR will also be able to focus on developing WebRTC technologies, which it expects to account for 15 percent of enterprise voice and video communications, up from one percent in right now.
The deal will also allow IR to expand its Prognosis product line to troubleshoot customer service problems in unified communications systems and contact centers.
"We are extremely proud of what the employees of IQ Services have achieved to date, especially our customer centric approach and deep domain expertise," said IQ Services CEO Russ Zilles. "The acquisition by IR will mean that we can continue to develop this passion with new likeminded colleagues and take our services to a broader market. We are excited by the possibilities that this brings to our customers, partners and employees."
Edited by Dominick Sorrentino