Software company makes acquisition
A local maker of server security software has acquired a San Francisco-based maker of IT monitoring software.
Grand Rapids-based Fox Technologies, a portfolio company of Parallax Capital Partners, said today that it has acquired GroundWork.
Terms of the deals were not disclosed.
The move allows Fox Technologies to advance its mission to be a leading “global system management company” by supporting customers and their growing infrastructure and security management needs in cloud management.
“The acquisition of GroundWork aligns with our long-term strategy to be an innovative leader in infrastructure and security management,” said Victor Shepherd, CEO, Fox Technologies. “As an info-security vendor, we are very aware that the health and monitoring of underlying technical and data platforms are critical to our customers. Groundwork brings that as an added-value proposition to our customer base.“
Dave Lilly, EVP of sales and operations at GroundWork, said GroundWork’s partners “are enthusiastic about the acquisition and look forward to expanding their product portfolio with Fox Technologies’ centralized Linux/Unix and Windows system access management solution.”
Fox Technologies helps companies protect corporate information assets with network security and access management software.
GroundWork provides unified monitoring solutions for IT operations management, analysis and cloud monitoring.
It also allows customers the flexibility to leverage the advantages of open source, while preserving existing investments in legacy IT management tools.
Parallax Capital Partners
Parallax Capital partners is a private equity firm in Laguna Hills, California with a focus on acquiring and operating application software and related services companies.
Founded in 1999, Parallax has acquired more than 20 companies, which have generated more than $1.5 billion in annual revenues and provided returns for its investors, partners and employees.