Two years after bringing the British cloud service provider APSU to its Chattanooga headquarters to serve the U.S. market, InfoSystems has sold its stake in the company to a New York-based provider of cloud services and data protection.
Tectrade, a subsidiary of the British-based CSI Group which acquired a stake in APSU last year from its original owners, bought the remaining ownership of APSU from InfoSystems. The new owners plan to keep APSU's offices in Chattanooga at the Info System headquarters on Hickory Valley Road.
"We are incredibly pleased with our successful APSU experience and happy about the transfer of ownership to Tectrade," said Keith Hales, the chief operating officer at InfoSystems. "Since we took over the business more than two years ago, we've been able to boost its bottom line and lengthen its client roster substantially. Building on that momentum, Tectrade has the team and resources in place to aggressively expand on what we've built."
APSU, Inc. offers managed information technology services, cloud computing, and is an IBM partner for disaster recovery needs. The company has about 16 employees, including 10 who work in Chattanooga, Hales said. Though remaining an APSU partner, Hale said InfoSystems will focus on its cybersecurity and IT services with its remaining staff of nearly 100 employees.
"As soon as we purchased APSU in 2018, we were able to add some top-tier members to that team," said Scott Davis, chief executive officer at InfoSystems. "When evaluating this new deal, one of the most important factors for us was the ability to keep the APSU team in place here in Chattanooga. Now, those professionals will have the chance to keep growing with the business they've played a large hand in making a success."