Cary data management company Consonus Technologies, which aborted a public stock offering two years ago, will become a subsidiary of Midas Medici Holdings, a publicly traded company in New York that's investing in smart grid developments.
Consonus, with more than 100 employees in Cary, will continue operating independently under its own name without changes or layoffs, company officials said. Consonus provides a range of technology services, including data storage and support, disaster recovery, data center efficiency, virtualization and cloud computing.
The deal is intended to give the company access to Wall Street capital through Midas Medici, said Nana Baffour, director and co-executive chairman at Midas Medici. Later this year, Midas Medici plans to raise money to invest in growth at Consonus by issuing more public shares of stock, Baffour said.