NEW YORK-- Unlimited Technology Inc., which recently received an investment from private equity funds managed by Lee Equity Partners, has acquired Virginia-based Integrated Security Technologies Inc. (IST).
According to a press release that describes the move as a "partnership," the combined company is "a strong strategic fit, aligning with Unlimited’s strategy to provide security solutions...to critical infrastructure end-markets."
IST’s management team, including CEO Alexander Oppenhimer, COO Michael Margolis, Chief Strategy Officer (and member of the Security Business magazine expert integrator panel) Michael Ruddo, and President Jon Langhorst, will continue to lead IST and will retain meaningful equity ownership in the go-forward business.
“This partnership expands our leadership position in the Eastern Seaboard and adds expertise serving the highly regulated Federal Government sector,” John Palumbo, CEO of Unlimited Technology, said in the press release.
Editor's Note: Unlimited Technology also submitted the 2021 Vanguard Award-winning Manhattan West Project. Read more about it at www.securityinfowatch.com/21243137.
“Since our founding in 1997, IST has grown to become the largest independent systems integrator in the Washington, D.C. region. We evaluated many strategic options for the future of IST and are pleased to have selected Unlimited Technology as the best partner to advance our shared vision,” added Alexander Oppenhimer, CEO of IST.
Financial terms of the transaction were not disclosed. Sandra Jones and Company acted as Financial Advisor to IST.
