Forsythe Acquires Information Security Technology (IST), Inc., Expanding Risk Management Capabilities
SKOKIE, Ill. --(Business Wire)-- Forsythe Solutions Group, Inc., a 36-year old national provider of technology infrastructure services and a wholly-owned subsidiary of Forsythe Technology, Inc., announced that it has acquired Information Security Technology, Inc. (IST), a leading provider of information security solutions, for an undisclosed amount. IST employs more than 30 people in seven locations in the U.S. and Canada. The company was founded in 2000 and is headquartered in St. Paul, Minnesota.
This acquisition enhances Forsythe's range of information security offerings and capabilities. It also strengthens Forsythe's presence in Minnesota and in the Ohio Valley, and introduces Forsythe into the Canadian market for IT infrastructure solutions.
This transaction is Forsythe's third major acquisition of a security services company in five years. In February, 2004, Forsythe acquired National Business Group, Inc. (NBG), an Atlanta-based leader in networking integration of security solutions. In 2002, Forsythe acquired the security and consulting services assets and contracts of Telenisus, a Chicago-based company that helped customers secure business over the Internet.
"Our customers face increased information security challenges, threats and vulnerabilities," comments Forsythe president William P. Brennan. "Information security is no longer a separate discipline--it permeates every aspect of IT infrastructure. The addition of IST's security expertise and experience further enhances Forsythe's information security capabilities and strengthens the full complement of IT infrastructure offerings we provide to our customers."
"Forsythe's long history of stability and continued growth, as well as its ability to evolve to meet the needs of its customers, is a great fit with IST's business model," stated Dave Gustafson, president and CEO of IST. "We are confident that this transaction provides tremendous opportunity for our clients--and for IST employees in terms of expanded resources and professional growth."
IST has a proven track record of providing holistic information security solutions for business, non-profits, and all levels of government, helping clients design and implement security policies, technologies and solutions. IST is partner to and integrator for many technology manufacturers, including Check Point, Cisco Systems, ISS, McAfee, Nokia, RSA/EMC, Secure Computing and others.
Effective immediately, IST will operate as a wholly-owned subsidiary of Forsythe Solutions Group, Inc. Dave Gustafson will continue as president and CEO of IST, a Forsythe company, and has been also been named vice president, security solutions at Forsythe. With the acquisition of IST, Forsythe's workforce now numbers more than 800 people in 44 locations in the U.S. and Canada.
Founded in 1971, Forsythe serves as an information technology infrastructure integrator, helping organizations across all industries, including Fortune 1000 companies, solve business problems through technology. Acting as a trusted, independent advisor, Forsythe provides technology and business consulting services, technology leasing services, and value-added reseller services for all the leading technology product manufacturers. Headquartered in Skokie, Illinois, Forsythe employs 800 people in more than 40 offices throughout the United States and is 100-percent employee-owned. In 2006, Forsythe achieved its 36th consecutive year of profitability with revenues of over $604 million. Forsythe McArthur Associates, Inc., Forsythe Solutions Group, Inc., and Forsythe Federal Solutions Corp. are wholly-owned subsidiaries of Forsythe Technology, Inc. For more information, visit www.forsythe.com.