Consonus officially merged with a subsidiary of Midas, UtiliPoint International, in an all-stock transaction, and will be able to benefit from cross business opportunities with UtiliPoint.
The combined firm will be a green IT company in the fields of virtualization, cloud computing and data management, as well as smart grid solutions.
As it becomes an integral part of Midas, the Consonus brand will remain committed to its core business of data center infrastructure solutions and managed services.
These services will be complemented by green hosting and delivery of energy efficient IT infrastructure and consulting services by leveraging the existing relationships and expertise of Midas’ UtiliPoint brand.
Midas president and CFO Johnson Kachidza said that this merger will benefit both Midas and Consonus shareholders as the combined company will have a significantly larger investor base which Midas expects to provide better access to capital markets.
