SAN FRANCISCO — August 6, 2012 — FusionStorm — a national provider of IT consulting, technology solutions, cloud offerings and managed services — announced today that it has made the final payment in full satisfaction of the judgment awarded to Technology Integration Group (TIG) in July 2010. Now that the matter is over, the Company leaders say they plan to direct even greater investment in personnel, operations and new solution offerings.
“We have never wavered in our investments over the past two years, and now can place more intense focus on our strategic growth,” said FusionStorm CEO Dan Serpico. “FusionStorm is stronger than ever, both financially and in terms of our long-term relationships with our partners and customers. We are entering a new chapter with all of our energies dedicated to delivering best-of-breed technology solutions. We believe that our consulting, engineering, management and support solutions are unmatched in this industry.”
FusionStorm announced in November 2010 that it had reached a definitive agreement with TIG to settle the judgment through transfers of cash and certain assignable assets, with the modest remaining balance to be paid in principal installments of $100,000 per month with an escalation to $200,000 for the remaining payments.
“While these payments did not materially impact our operations, it is gratifying to close the book on this obligation,” said Amy Morrissey, Vice President and General Counsel for FusionStorm. “Litigation is always challenging and distracting for both sides. This is now behind us and we can focus on the future.”
FusionStorm’s solutions and services encompass the full spectrum of enterprise-class technology solutions and services. For more information, call 800.228.TECH or visit www.fusionstorm.com.
FusionStorm is a national provider of IT consulting, technology solutions and 24×7 cloud/managed services for enterprises of all sizes. The company assists organizations by providing complete solutions for system infrastructure, storage, networking, IP communications, security, database and disaster recovery, both onsite and in FusionStorm data centers.
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