SYS Technologies Inc., a San Diego-based software provider to the federal government and industrial customers, said Nov. 9 it acquired Logic Innovations, Inc., a local firm that provides technology that speeds the delivery of digital files, for $4 million in cash and SYS stock.
Applications for Logic’s products include the TV industry for the delivery of broadcast content; government, for monitoring and surveillance applications; and corporate, for distribution of internal information.
Logic’s revenues for the nine months ended Sept. 30 were $2.4 million. The transaction is expected to be accretive to SYS earnings, the company said.
Traded on the American Stock Exchange under SYS, shares closed at 4.81 Nov. 9.
, Mike Allen