Myriad360 Acquires Advizex Technologies
Myriad360, a global systems integrator specializing in cybersecurity and cloud services, has acquired Advizex Technologies. The strategic acquisition forms a combined $900 million global platform focused on AI activation, enterprise infrastructure, and managed services.
- Founded in 1975, Advizex Technologies brings nearly five decades of experience in enterprise IT infrastructure to the deal. Prior to this acquisition, Advizex was acquired by Fulcrum IT Partners in March 2023. - The acquisition combines two companies of different scales; prior to the merger, New York-based Myriad360 had an estimated annual revenue of around $35.1 million, while Ohio-based Advizex's revenue was reported to be $230 million. - Advizex was led by President and CEO C.R. Howdyshell, who has focused on an "everything-as-a-service" model and on-premise, pay-per-use cloud consumption. Myriad360 was founded in 2003 by its CEO, Andrew Fisher. - This deal significantly expands the technical accreditation of the combined entity, uniting Advizex's 800+ technical certifications with Myriad360's over 100 certifications. - Advizex has a strong focus on a customer-centric approach, promoting a "Customers for Life" philosophy and reporting a 97% customer satisfaction rate. - Myriad360 has recently been expanding its AI and data management capabilities, exemplified by a partnership with AI data platform company VAST Data to enhance its storage solutions portfolio. - The transaction joins Myriad360's workforce of about 220-250 employees with Advizex's team of approximately 300-325 people. - While financial terms of the Myriad360-Advizex deal were not disclosed, it marks a major consolidation in the IT services sector.
