COLUMBIA, Md., May 21, 2013 /PRNewswire/ -- Fortress
International Group, Inc. (Other OTC: FIGI), a provider of
consulting and engineering, construction management and site
services for mission-critical facilities, today announced that it
acquired the data center integration services business from arvato
digital services LLC on May 20, 2013.
Located in Round Rock, Texas,
the purchased business provides custom rack layout design and
configuration for large enterprise IT solutions consisting of large
banks of computer servers, digital information storage and
networking equipment, with custom cabling, power and cooling within
data center racks and mobile or containerized data centers. The
business also includes testing and deployment, including onsite
installation and network set-up of completed data center racks and
mobile or containerized data centers. Additionally, the business
provides configuration services including the configuration of IT
equipment, which consists of loading applications or systems
software, customizing memory or storage capacities, adding
peripherals, and testing (including hardware power-up testing,
diagnostics and software boot testing).
Anthony Angelini, Chief Executive
Officer of Fortress, said, "We are very excited to expand our data
center services offerings to include integration services of IT
equipment. This acquisition is strategically significant and will
be financially accretive to our business. Strategically, the
acquired integration business is an ideal complement to our current
offerings in both the traditional and modular data center
markets. As the company evolves, our ability to perform a
full range of services for data center customers both to the rack,
and now inside the rack, will enhance the value proposition that
our customers gain by trusting their data center requirements to
us."
Angelini continued, "Modular data center services represent an
important and growing business for us, and, with this acquisition,
we now offer an unmatched set of capabilities to the overall data
center market and particularly the modular data center space. The
transaction represents a key step along our strategic roadmap, and
we are very excited about the team of people joining us as a result
of the acquisition. We anticipate a number of synergies in both
business development and cost savings as we integrate our sales
teams, existing customers and management teams. The transaction
further provides an enhanced end to end solution to both existing
and potential customers."
The acquired business is expected to generate over $10 million of annualized revenue and be
accretive to our results in the second half of 2013. The
purchase price is approximately $1.5
million payable in cash, subject to customary
adjustments.
Conference Call Details
Fortress will conduct a conference call on Wednesday, May 22, 2013 at 9:00 a.m. EDT to discuss 2013 first quarter
financial results and this acquisition. Investors may listen to the
conference call via telephone at: 877-941-2068 (U.S./Canada) or 480-629-9712 (international) or via
live audio web cast on the investor relations section of the
Company's website at www.thefigi.com.
An audio replay of the conference call will also be available
approximately two hours after the conclusion of the call and will
be available until Wednesday, May 29,
2013. The audio replay can be accessed by dialing
800-406-7325 (U.S./Canada) or
303-590-3030 (international) and entering conference call ID
4621459, or via an archived webcast available on the investor
relations section of the Company's website at www.thefigi.com
approximately two hours after the conclusion of the call, and will
remain available for 90 calendar days.
About Fortress International Group, Inc.
Fortress International Group, Inc. is leading mission-critical
facilities into a new era of maximum uptime and efficiency.
Fortress provides consulting and engineering, construction
management and 24/7/365 site services for the world's most
technology dependent organizations. Serving as a trusted advisor,
Fortress delivers the strategic guidance and pre-planning that
makes every stage of the critical facility lifecycle more
efficient. For those who own, lease or manage mission-critical
facilities, Fortress provides innovative end-to-end capital
management, energy, IT strategy, procurement, design, construction,
implementation and operations solutions that optimize performance
and reduce cost.
Fortress International Group, Inc. is headquartered in
Maryland, with offices throughout
the U.S. For more information, visit: www.thefigi.com or call
888-321-4877.
Forward Looking Statements
This press release may contain "forward-looking statements" --
that is, statements related to future -- not past -- events, plans,
and prospects. In this context, forward-looking statements may
address matters such as our expected future business and financial
performance, and often contain words such as "guidance," "expects,"
"anticipates," "intends," "plans," "believes," "seeks," "should,"
or "will." Forward-looking statements by their nature address
matters that are, to different degrees, uncertain. Particular
uncertainties that could adversely or positively affect the
Company's future results include: the Company's reliance on a
significant portion of its revenues from a limited number of
customers; risks relating to operating in a highly competitive
industry; actual or potential conflicts of interest between the
Company and members of the Company's senior management; risks
relating to rapid technological, structural, and competitive
changes affecting the industries the Company serves; the
uncertainty as to whether the Company can replace its backlog;
risks involved in properly managing complex projects; risks
relating the possible cancellation of customer contracts on short
notice; risks relating our ability to continue to implement our
strategy, including having sufficient financial resources to carry
out that strategy; risks relating to our ability to meet all of the
terms and conditions of our debt obligations; uncertainty related
to current economic conditions and the related impact on demand for
our services; and other risks and uncertainties disclosed in the
Company's filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the fiscal year ended
December 31, 2012. These
uncertainties may cause the Company's actual future results to be
materially different than those expressed in the Company's
forward-looking statements. The Company does not undertake to
update its forward-looking statements.
SOURCE Fortress International Group, Inc.