Manchester's Fandotech, a provider of backup and disaster recovery services to businesses throughout New England, has been acquired by Foxborough, Mass.-based Industrial Defender.
Financial terms weren't disclosed.
But officials say the move is designed to enable the launch of Industrial Defender's Survive Services, a new backup and disaster recovery service for the industrial control systems market.
Industrial Defender, which utilizes software and security personnel to monitor on- or off-site backup services at its data center, is unveiling Survive Services in response to what it says are significant changes in the industrial control systems threat arena.
Fandotech, founded in 2003, has 130 employees, 24 of which are based in Manchester with the rest in Massachusetts. The company was honored last fall by the Connecticut Tech Council as one of the fastest growing tech companies in the state.
John W. Boyd, Jr., general manager and vice president of hosting at Fandotech, talked to the Hartford Business Journal about the deal's implications for his company, as well as the broader tech landscape in Connecticut.
Q: What precipitated the discussions with Industrial Defender back in December?
A: Fandotech's nine years of high availability focus that was born from management's 20-plus years of utility experience. Industrial Defender was attracted to Fandotech's high availability support model and a mature process allowing for scalable client growth.
Q: How does this deal benefit Fandotech?
A: This acquisition with Industrial Defender brings a global client list and security platform that will enable Fandotech's virtual servers practice to scale to the next level while improving services to our existing client base. Fandotech is already building its next generation platform to better serve cloud-based solutions.
Q: Why the need for this deal from Fandotech's standpoint?
A: This was not a need-based decision. Fandotech was, and is, a growing profitable company. But the opportunity to combine with a global leader in a strategy of critical cyber asset security and configuration management was not to be passed up. Brian Ahern (president/CEO, Industrial Defender) and I have a unified vision of how our individual technologies can come together for a bigger vision and the resources to execute.
This common vision was compelling enough that the time from initial introductions to a closed deal was less than 60 days.
Q: Is Fandotech committed to maintaining a presence in Connecticut?
A: Yes, we have a diversified investment in data centers in Connecticut that will continue to be operated and expanded. We are making significant financial commitments to these facilities this summer.
Q: Will any Connecticut jobs be moved to Massachusetts?
A: We are hiring in Connecticut and Massachusetts right now to support our growth goals.
Q: What are your thoughts on the overall tech scene in Connecticut?
A: We need to expand the pool of technology professionals by encouraging high school and collegiate level competencies. I have been working with Manchester High School and Capital Workforce Partners (as a board member) for many years to promote School to Career opportunities. We have several interns now working at Fandotech. Taxes and energy costs are a challenge for the data center industry in Connecticut; we could use help from our legislators.
Q: What are your goals for Fandotech over the next five years?
A: Continue to grow the value for all stakeholders. The primary stakeholder is our customers who have been tremendously supportive as we grew from four employees in 2003 to a technology leader who now is part of Industrial Defender with a bigger vision and ability to execute.