Shared Technologies Acquires layerX Assets

Shared Technologies Inc. has acquired the majority of security virtualization software provider layerX Technologies LLCs assets for an undisclosed amount.

The acquisition results in a newly formed, wholly owned subsidiary of Shared Technologies, STI LayerX Inc. The subsidiary will partner with Shared Technologies to deliver converged security platforms and provide enterprise security management and virtualization solutions for enterprises and managed security service providers.

The deal is part of a Shared Technologies strategy fro delivering security platforms for converged voice and data, the company said. Shared Technologies will collaborate with security technology providers to develop the security platforms, the company said.

“The acquisition of layerX is an integral part our strategy,” said Tony Parella, president and CEO of Shared Technologies. “layerX’s security virtualization technology extends Shared Technologies’ reach into the security solutions market, and provides an architectural foundation for new solutions we intend to offer.”

layerX Technologies LLC www.layerxtech.com  

Shared Technologies Inc. www.sharedtechnologies.com