CBE Technologies, a leading provider of managed IT services to the small and mid-sized business, education, and government markets, announced today that it sold its government and education business division to Gores Equity, LLC. As part of the transaction, the company also sold its remote office operations located in Maine, New Hampshire, Rhode Island and Connecticut to Gores Equity. The financial terms of the sale were not disclosed.
BOSTON (Business Wire EON) April 8, 2008 --
CBE Technologies, a leading provider of managed IT services to the small
and mid-sized business, education, and government markets, announced
today that it sold its government and education business division to
Gores Equity, LLC. As part of the transaction, the company also sold its
remote office operations located in Maine, New Hampshire, Rhode Island
and Connecticut to Gores Equity. The financial terms of the sale were
not disclosed.
The sale of the government and education division followed the company’s
decision to focus on the core business of providing OneStop Managed IT
services and unified voice and data solutions to small and medium-size
businesses (SMB). The SMB division will operate as CBE Managed IT and
will continue to be led by CEO and Chairman Peter Cowie and President
Andrew Lally. In addition, CBE Managed IT will also operate and grow its
existing channel services division providing packaged IT services to
national resellers serving SMBs throughout the US.
“CBE Technologies has built two strong
businesses – one serving the public sector and
the other serving the SMB market with OneStop Managed IT services,”
said Peter Cowie. “However, the business
models and resources required to sustain and build upon this success for
these two divisions were becoming increasingly divergent. This move
allows both businesses to focus exclusively on the specific needs of
each market, ensuring that our respective customers receive the best
possible IT services and solutions.”
CBE Managed IT will base its operations out of its 10 City Square,
Boston corporate offices. The main phone number is 617-514-1700 and the
website url is www.cbemanagedit.com.
Under Gores Equity’s ownership, the government
and education business will continue to operate as CBE Technologies and
will be run by George Mellor, president and former vice president of
operations of CBE Technologies.
Both companies will work closely together during the transition to
ensure all customers continue to receive services without any disruption
and will continue to work as trusted business partners after the
transition period.
About CBE Managed IT
CBE Managed IT, headquartered in Boston, is a leading provider of
managed IT services to the small and medium-size business market. The
company offers a comprehensive suite of Managed IT and Unified
Communications solutions that include system design, integration,
support, remote monitoring, and proactive system maintenance. These
managed solutions provide “always-on”
reliability, 24x7 support, and predictability through our OnePrice model
that fixes the cost of technology support at a price small and
medium-size organizations can afford. CBE also enables technology
resellers, manufacturers, and software vendors to provide their small
and mid-sized customers with a complete suite of onsite and remotely
managed IT services 24/7 throughout the US, either as a co-branded or
private labeled offering.
For more information contact:
CBE Managed IT
10 City Square
Boston, MA 02129
Telephone: 617-514-1700
Web site: www.cbemanagedit.com
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