Philadelphia-based Integrated Ventures Inc. has announced plans to acquire the assets of an Indianapolis-based technology company, but the buyer is not saying who or what it is buying.
Integrated Ventures says it has executed a Non-Binding Letter of Intent for the privately held tech service provider. The company website says it is “focused on acquiring, launching and operating assets in the cryptocurrency sector.”
“Due to increasing demand for data hosting, including due to the current pandemic environment, integration and connectivity, reliable data centers operations are critical for present and future corporate infrastructures,” said Steve Rubahk, Integrated Ventures’ chief executive officer. “In addition, Company’s data center expertise is a perfect strategic and complementary fit with Integrated Venture’s cryptocurrency mining operations. We believe that there is a compelling opportunity for nationwide integration of such niche companies, that offer value-added services.”
The purchase includes all brands, domain-names, contracts and staffing.
According to Integrated Ventures, the Indiana company has over 50 active corporate clients, including Eli Lilly, Purdue University, Indiana University and major local hospitals.
Integrated Ventures says the proposed all-cash transaction is conditional on the completion of standard due diligence.