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Texas-based data center operator acquires Triangle startup AdvancedNetworX

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AdvancedNetworX, a two-year-old tech startup in the Triangle, is now part of Houston-based INX, a provider of data center and Internet Protocol-based communications solutions.

Mark Alexander, chief executive officer at AdvancedNetworX, will remain with INX as regional vice president. The Morrisville operation, which includes 12 employees, will serve as the mid-Atlantic hub for INX.

INX (Nasdaq: INXI) paid $385,000 in cash and 2,000 shares of stock for AdvancedNetworX. Its shares closed at $5.10 on Monday. AdvancedNetworX shareholders also will receive additional compensation if future contingencies are met.

The transaction closed July 17.

AdvancedNetworX reported $1.6 million in revenues for the past year. The company is a Cisco Gold Partner.

“We are looking forward to joining the INX team,” Alexander said in a statement. “INX is one of the leading national companies in our industry, which will give us an immediate opportunity to grow our offerings and provide our clients with services like data center solution architecture and managed services.”

INX also has offices in California, Connecticut, Idaho, Massachusetts, New Mexico, Oklahoma, Oregon, Utah, Washington, and Washington D.C.

“The acquisition of AdvancedNetworX will provide an entry into an important new market for INX,” said INX Chairman and CEO James Long. “We are excited about the prospects for this market and the experienced team of professionals who will be joining the INX organization through this transaction.”