Latest Fortitude Technology News
Dec 17, 2019
December 17, 2019 08:00 AM Eastern Standard Time DALLAS--( BUSINESS WIRE )-- Generational Equity , a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Fortitude Technology, Inc. to AIS Technology Services. The acquisition closed August 1, 2019 and details were not disclosed. Fortitude Technology, Inc ., located in San Diego, CA provides services such as hosting, backup, disaster recovery & virtual desktops that are the key technology components of Fortitude Technology’s Core 4. Their solutions are designed to provide available, scalable, secure, performant, compliant environments that allow businesses of all sizes to take advantage of the cloud. They protect data and ensure their clients have the systems resiliency to survive a disaster. The Core 4 allows for rapid provisioning and maintenance from anywhere, at any time, and from any device. Located in San Diego, CA AIS Technology Services is southern California’s market leader for business-ready IT infrastructure, cloud and colocation. Their customers choose AIS because they value security, compliance, connectivity, and support. Their mission is to provide innovative and trusted enterprise-class IT infrastructure so their clients can focus on their core business. Matt Thoene, CEO of AIS, commented on the deal, “We are proud to welcome Fortitude into the AIS family. Our shared cultural values and customer-centric approach make merging the two organizations a natural fit. Together we will continue to drive our collective vision of providing best-in-breed technology solutions combined with the highest level of subject matter expertise to fulfill our clients’ technology roadmaps.” Kevin Johnson, co-founder and president of Fortitude added, “I’m very proud of the Fortitude team and value the relationships we have formed with our customers. With a similar mission and aligned culture, I look forward to joining forces with AIS to design and deliver custom-built solutions for customers based on their unique business needs and goals.” Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham’s team, led by Senior M&A Advisor, Kris Nielsen and supported by Bo Zhao, Vice President - Western Region successfully closed the deal. Executive Managing Director Tom Braun established the initial relationship with Fortitude Technology. Kris Nielson stated, “From a Dealmaker’s perspective we had the perfect client - smart, deft decision maker, and he knew what he wanted. He passed over a couple offers putting more money on the table and selected the buyer that made the most sense post-closing, when cultures begin to merge. Nevertheless, the price was a good one and the all cash terms with minimum holdbacks met his requirements. We also had the pleasure of introducing an outstanding M&A lawyer, that the client was so pleased with he personally thanked us for the introduction after the deal closed.” About Generational Equity Generational Equity , Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors , and DealForce are part of the Generational Group , which is headquartered in Dallas and is one of the leading M&A advisory firms in North America. With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition, and wealth management services. Their five-step approach features exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management. The M&A Advisor named the company the 2016, 2017, and 2018 Investment Banking Firm of the Year. For more information, visit https://www.genequityco.com/ or the Generational Equity press room .