Harrisburg IT company bought by Texas firm
In a bid to expand its services in the Northeast, a Texas company has bought Credo Technology Solutions, an IT consulting firm in Lower Paxton Township.
The deal offers the Texas company, Infolob Solutions Inc., a foothold in the Northeast, where it expects to grow, said former Credo execs who have joined Infolob.
"Moving forward, they’re looking to expand this office and the existing IT service offerings to grow this region," said Greg Bair, formerly Credo’s president and now a regional vice president for Infolob.
Based near Irving, Texas, Infolob provides a range of IT-related services. Its clients include Google, Facebook and Disney, it said in the release.
The company also is one of 24 firms around the country to be recognized as so-called Managed Platinum Partners by computer giant Oracle. That means Oracle works closely with Infolob to deliver premium-level hardware and software consulting solutions to select Oracle clients. Oracle overall has 1,200 consulting partners worldwide
"The southcentral Pennsylvania market is ideal for Infolob," Infolob CEO Vijay Cherukuri said in a news release, "as it will provide Oracle customers with unique access to our suite of best-in-class solutions and allow us to drive innovation and help more clients realize their enterprise potential."
Terms of the deal were not disclosed.
Credo was founded in 2010. It employed 52 people as of last year and had revenue in 2015 of more than $8.5 million, according to Business Journal records.
Tony Darcangelo, formerly Credo’s executive vice president and now a regional vice president, said most of the company’s staff is staying on but acknowledged the potential for minimal cuts to back-office positions.
"Our overall goal with 50-plus employees was to ensure business continuity with our clients, but more importantly it was to assure that our key leadership team and our IT consultants would transition successfully to Infolob," Darcangelo said.