Sysorex Global Holdings and Geneseo Communications Announce Strategic Relationship


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PK:SYRX
02/27/2014 [ACCESSWIRE]

Sysorex Global Holdings to Partner with Geneseo Communications to Launch Cloud Analytics Services with Geneseo’s subsidiary, ColoHub; Geneseo Completes $2M Strategic Investment in Sysorex

 

SANTA CLARA, CA - (ACCESSWIRE - Feb 27, 2014) - Sysorex Global Holdings Corp. (SYRX) ("Sysorex"), a developer of leading information technology solutions, today announced that it has entered into a strategic relationship with Geneseo Communications, to collaborate on the development and introduction of cloud services through Geneseo's newest data center, ColoHub. Geneseo also completed a $2 million investment in Sysorex in exchange for 800,000 shares of restricted common stock. The transaction closed on February 26, 2014.

"Geneseo has over 100 years of experience owning and operating telecommunication infrastructure, and the trends we are witnessing have guided us to strategically enter the data center industry,” said Geneseo CEO Scott Rubins. "We believe our strategic relationship with Sysorex will act as a catalyst in this market because of Sysorex's established sales channels, government presence, and most importantly Sysorex’s ability to integrate unique and innovative cloud offerings with our data center facility."

"Joining forces with such an esteemed partner as Geneseo, and its ColoHub operation, strengthens our strategic vision and further validates our plans to integrate and expand our cloud capabilities acquired from Shoom and Lilien," said Sysorex CEO, Nadir Ali. "Geneseo's strategic investment in Sysorex comes at a compelling time in Sysorex's evolution, and we believe speaks to Geneseo’s confidence in Sysorex's team, technology and vision. With ColoHub, we now have the opportunity to provide integrated cloud offerings that help unlock valuable data opportunities for current and future customers at cost-effective rates,"  he added.

About Sysorex Global Holdings

Sysorex identifies data opportunities that create the greatest value for our customers. We approach clients with our dedicated expert people and powerful technology to plan, develop and integrate data solutions in the cloud, on-premise or mobile, delivering superior customer satisfaction and value. Visit http://www.sysorex.com/, follow @SysorexGlobal and Like us on Facebook. 

About Geneseo Communications and ColoHub

Geneseo Communications, Inc. roots date back to 1905  and is the parent company of Geneseo Communications Services, Inc., Geneseo Telephone Company, Gensoft Systems, Inc. and IDC Digital Solutions. Geneseo Communications, Inc. serves western Illinois and eastern Iowa  and surrounding areas with state-of-the-art telecommunications service, computer related products, service bureau solutions and utility billing software to clients across the United States. Geneseo 2nd data center, ColoHub,  is a brand new facility that opened in the Fall of 2013 and is a carrier  neutral data center located in Bettendorf, Iowa.

Forward-Looking Statements

This press release may contain forward-looking statements, particularly as related to, among other things, the business plans of Sysorex (the Company), statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project,"  "indicate," "could," "potentially," "should," "believe," "think," "considers"  or similar expressions are intended to identify "forward-looking statements."  These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, and general economic conditions. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company's expectations and estimates. For more information, contact:

Sysorex Investor Relations Contact:
Scott Gordon
President
CorProminence LLC
377 Oak Street
Concourse 2
Garden City, NY 11530
+1-631-703-4900
http://www.corprominence.com/

 

 

SOURCE: Sysorex Global Holdings Corp.

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