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Press Release - April 08, 2013

Velocity Has Agreed in Principle to Acquire iXtend

Velocity Technology Solutions and iXtend Special Statement, April 8, 2013 at COLLABORATE 13 in Denver, CO


Velocity, the leader in cloud application services, has agreed in principle to acquire iXtend, a fast growing provider of JD Edwards hosting services. The parties are proceeding on an exclusive basis and expect to complete the transaction by the end of April 2013, pending finalization of definitive agreements.

About Velocity Technology Solutions 
Velocity Technology Solutions is a leader in enterprise and business application services, fully-managed and protected within a Velocity cloud. It is dedicated to lowering operational costs, providing industry-leading service levels and improving software performance while reducing the burden on IT staff and enabling deployment flexibility. Velocity provide cloud solutions for enterprise applications with high levels of performance. Expertise managing software 24/7, combined with proprietary technology that enhances availability, security, and control, make Velocity the trusted partner for rapidly and securely deploying application investments into a secure and resilient cloud.  

Velocity is headquartered in New York with facilities in Minneapolis, Seattle, Denver, Tampa, London (Canada), and Glasgow (Scotland). Velocity is a portfolio company of Silver Lake Sumeru, a global leader in private equity investments in growth-oriented technology and technology-enabled companies (for additional information on the firm and its entire portfolio, visit www.silverlake.com). For more information on Velocity: visit www.velocity.cc.
 
About iXtend
The iXtend enterprise cloud for JD Edwards is a fast, reliable cloud specifically engineered for JD Edwards, by JD Edwards subject matter experts. The iXtend enterprise cloud offers virtualization, cloud technologies, disaster recovery, implementations, upgrades, application support, functional support, development services and managed services all from the latest technology available today into tomorrow. iXtend builds all services into our offering to provide an unlimited experience to our clients. Our JDE Unlimited services are virtually unlimited by time and materials, resource constraints, knowledge limitations and bottlenecks on resource expenditures resulting in lower TCO and a faster ROI for every organization we support. For more information on iXtend: visit www.ixtendinc.com