XETA Technologies to Acquire Lorica Solutions
XETA Technologies, a national provider of converged communications solutions for the enterprise marketplace, has announced a definitive agreement to acquire Hotel Technology Solutions, Inc., dba Lorica Solutions ("Lorica"), a privately-held company headquartered in Buffalo, New York.
Lorica provides managed converged IP networks and High Speed Internet Access (HSIA) to more than 40,000 hotel rooms. The company also provides proactive monitoring and support from a 24x7 network operations center and help desk. Lorica's customers include many of the preeminent hospitality brands.
The acquisition of Lorica and its proprietary technology, the Lorica Room Center, expands XETA's addressable market with leading HSIA technologies and a turnkey converged network solution.
Subject to satisfactory completion of due diligence and other customary closing conditions, the transaction is targeted to close during XETA's third fiscal quarter.
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