September 26, 2008

CSP Acquires R2 Technologies

CSP, a provider of systems integration services, has acquired Miami-based R2 Technologies, a managed services provider, for $2 million in an all-cash transaction.

CSP expects the acquisition to be immediately accretive. R2 Technologies recorded revenues of $7.3 million in the 12 months ended June 2008.

R2 Technologies delivers secured and unified networks. The company's expertise in unified communications, security and advanced server and network technologies guides companies through the process of creating and maintaining the secure, unified and cost-effective IT environments. R2 Technologies will be operated as a division of Modcomp's Florida-based systems and solutions division.

Alexander Lupinetti, chairman, president and CEO of CSP, said: "Our acquisition of R2 Technologies is immediately accretive and provides our Modcomp subsidiary with a highly strategic addition to our cutting edge IT Service and Systems Integration business. Through R2 Technologies, we gain a significant presence in the rapidly growing and higher-margin Unified Communications market."