April 21, 2014 – Baltimore Business Journal, Ryan McDonald.
AirPatrol Corp., a Howard County cyber security firm that focuses on wireless and mobile systems, has been acquired by a Silicon Valley company in a deal worth up to $30 million.
As part of the deal, Santa Clara, Calif.-based-Sysorex Global Holdings Corp. (NASDAQ:SYRX) paid $10 million in common stock and $10 million in cash for AirPatrol. An additional $10 million in cash and stock could be paid based on AirPatrol’s profitability.
Sysorex provides cyber security and data analytics for government and commercial clients. AirPatrol has become a subsidiary of Sysorex and will retain its management and operations.
AirPatrol has 25 employees worldwide, including 12 at its Howard County headquarters.
AirPatrol in February unveiled its new 5,200-square-foot headquarters in the Maple Lawn Corporate Center.