published Thursday, September 8th, 2011

Claris Networks buys local firm SRC

A multimillion dollar cloud computing company expects to generate millions more in local revenue after acquiring a Chattanooga business tech supplier Tuesday.

Claris Networks, a Knoxville-based information storage supplier, bought SRC Technology Solutions for an undisclosed amount. The purchase more than doubled Claris' Chattanooga staff from three to seven, and the company expects to quickly grow along with what CEO Larry Bodie said is a thriving industry and quickly growing city.

"Chattanooga is the place to be," he said. "We want to have a major, major presence."

Claris' Knoxville operation has about 50 employees and had $7.1 million in revenue in 2010, according to Inc. Magazine, which ranks the fastest-growing businesses in America. That's a 25 percent increase over its 2007 revenue of $5.6 million.

Bodie said that with the business of storing data in the digital cloud booming louder than thunder in the real ones, he expects growth in Chattanooga. Claris is projecting between 25 percent to 30 percent annual growth on a projected $3 million in revenue this year.

Donnie Hutcherson, whose accounting firm sold SRC, said the good news for the businesses is also good news for their customers. Claris' experience and more extensive resources should benefit SRC's customers.

"They view it the same as we do," he said. "I call it a one plus one equals three situation."

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twengler said...

As a former partner with SRC, I believe that this is a great move for both firms. Only a few IT firms in town have a solid grasp of True, Cloud Computing and Claris is one of them. For true cloud computing and full managed services - I will be referring business to this top notch firm. Additionally, Claris is picking up some very sharp, senior level IT talent as well. Congrats to both SRC and Claris Networks and I look forward to hearing good news as you deliver solutions to clients in our community.

September 8, 2011 at 2:44 p.m.
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