August 27, 2008
S.L. Startup Reports Acquisitions
By Deseret News
A Salt Lake-based startup company has acquired one company and announced its intent to acquire another.
Sparxent Inc. announced its formation Monday. Steve DeWindt and Dave Taylor, along with venture capital company vSpring Capital, formed Sparxent to provide software, hardware and information technology consulting to mid-market customers.
Sparxent also said Monday that it has acquired NetworkD Corp., based in Newport Beach, Calif., and has signed a letter of intent to acquire Arbyte Group, based in Moscow.
Financial terms of the NetworkD transaction were not disclosed. Established in 1996, it has more than 6,000 customers in the U.S. and Europe. NetworkD provides security, systems life-cycle management, service desk and IT process improvement solutions. It has regional offices and development centers throughout the United States, United Kingdom, France, Germany and Ukraine.
Established in 1994, Arbyte offers IT consulting, software and hardware solutions to customers throughout the Russian Federation and Ukraine.
Sparxent said it expects to enter into strategic joint ventures and make acquisitions of select software development and integration companies.
"Although the middle tier of the market makes up nearly half of overall IT spending, there are few dedicated IT resources focused on this segment," DeWindt said in a prepared statement. "We feel that there is a unique opportunity to create a new business model through the marriage of consulting, solutions, integration, development and services that are solely focused on the underserved mid-market."
DeWindt and Taylor are both tech veterans. DeWindt was director of worldwide reseller sales at Intel Corp., co-president of Computer 2000 AG, chief executive officer of AmeriQuest Technologies and co- founder of BlueRoads. Taylor was part of the original management team at LANDesk Software and also worked at Intel and Microsoft.
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