Evolve IP Acquires Lyrio IP

Evolve IP acquires Lyrio IP Technology Solutions

June 6, 2008

1 Min Read

WAYNE, Pa. -- Evolve IP today announced it has acquired Lyrio IP Technology Solutions, a well-respected and successful Philadelphia-based provider of IP technology products and services for small-to-mid-sized businesses (SMBs). The cash and stock transaction further signifies Evolve IP's plan to combine their strong organic growth with the active pursuit of targeted acquisitions and strategic partnerships.

Lyrio's customer base, which consists of SMBs, school districts and government offices across the mid-Atlantic region, will now have access to Evolve IP's complete suite of enterprise-class managed technology services, including Managed Telephony, Managed Network Services, Network Security & Compliance Services, and Hosted Applications.

"We look forward to integrating the experienced and knowledgeable staff of Lyrio into our team, and developing strong and valuable relationships with their customers," said Thomas Gravina, Chairman, CEO and Co-Founder of Evolve IP. "This acquisition is a reflection of our balanced growth strategy of strong organic growth and targeted, strategic acquisitions which add long-term value to our organization."

Evolve IP will assume Lyrio's position as a Mid-Atlantic reseller of ShoreTel products. The Company will also assume responsibility for all maintenance contracts, services, and support for ShoreTel, and will continue to market ShoreTel products. Lyrio co-founder Howard Hoffman, a 25-year telecom industry veteran who served as Executive Vice President of Sales, will join Evolve IP as a Senior Sales Executive.

Evolve IP

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