Thursday, November 10, 2005
SYS Technologies Buys Logic Innovations
San Diego-based SYS Technologies announced yesterday that it is acquiring Logic Innovations, a San Diego developer of broadband media solutions. SYS, a provider of information technology solutions to the industrial sector and the U.S. government, said that it would pay approximately $4.0M in cash and stock for Logic Innovations. Logic provides systems for the delivery of digital audio, video, and data to the broadcast and other industries. SYS reported that Logic had revenues of $2.4M in the last nine months, and an annual run rate of approximately $3.0 to $4.0M.