Wednesday, July 15, 2009

Sparxent Spends Around $24.4M In Acquisitions

Salt Lake City-based Sparxent, which has been on an acquisition roll in the last few months of IT consulting firms, has raised around $24.4M which it put into two of its acquisitions, according to regulatory filings from the firm. According to the filings, the firm issued $16.8M in stock associated with an acquisition this month, and a separate $7.625M in another acquisition. Sparxent acquired Russian firms Arbyte Group and Rikkon on June 10th, and acquired Colorado Springs-based XAware in May. It was unclear from the filings which amounts were associated with which acquisitions, and if the firm received external funding for the deals. The firm did not immediately provide further details on the filings when asked by this publication. Sparxent is backed by vSpring Capital.