Quadrant 4 Systems Corp. (OTCQB: QFOR), a leading IT consulting company ("Quadrant 4"), today announced it has successfully merged its consulting entities, VSG Acquisition Corporation, RM Acquisition Corporation and ISS Acquisition Corporation, which were acquired in 2010. Effective as of July 1, 2011, ISS Acquisition Corporations will be renamed Quadrant 4 Consulting, which in turn, has acquired 100% of the outstanding stock of VSG Acquisition Corporation and RM Acquisition Corporation. Quadrant 4 has signed a multi-year lease on an office facility in New Jersey that will provide ongoing training and support for all three combined entities.
"Now that we have fully integrated our consulting firms into a single platform, our next step is to create a unified brand under Quadrant 4. The office we have selected is a well-designed and collaborative work space that is designed to easily expand as our talent pool and customer base grows," said Dr. Nandu Thondavadi, CEO of Quadrant 4.
"Quadrant 4's consulting businesses can now achieve greater efficiencies and strengthen their overall offering to our clients. Demand is on the rise for a number of our high-level consulting services, including cloud computing, data security management, electronic medical records and business intelligence. Under a unified brand and office, we can best serve a broader range of clients from anywhere in the world," said Dhru Desai, Chairman of Quadrant 4.
About Quadrant 4 Systems Corporation
Quadrant 4 Systems Corp. is a leading provider of the next generation IT Services and ITES led by a team of accomplished IT industry veterans. By leveraging its talents and facilities in North America and off-shore offices in India, the Company provides smart-sourced solutions that help over 150 business customers achieve their goals of developing customized solutions and cost savings across multiple verticals and geographies. With three acquisitions completed, Quadrant's growth-through-acquisition business model has yielded sustained year-over-year growth in earnings, profitability and market recognition. For more information on Quadrant 4, please visit www.quadrantfour.com.
Quadrant 4 Systems Corp. (OTCQB: QFOR), a leading IT consulting company ("Quadrant 4"), today announced the closing of a second phase of its working capital financing arrangement with Porter Capital Corporation ("Porter Capital"). The Company has received additional capital in the amount of $3.5 million from Porter Capital, which will be used to fund Quadrant 4's existing consulting and solutions businesses. Quadrant 4 closed on the first phase of its working capital line in the amount of $3.5 Million in early March 2010.
"We have built a great, long-standing relationship with Porter. Porter Capital clearly understands the IT industry and has provided us with a strategic advantage in implementing our business model. With the two phases now complete, we have raised a total of $7 million, which will be used to further organic growth within our consulting and IT-enabled solutions businesses," said Dr. Nandu Thondavadi, CEO of Quadrant 4.
"This is a true partnership at work. We are excited at the prospects of seeing Quadrant 4 continue to grow and achieve new corporate milestones," said Sal Trupiano, Chief Operating Officer of Porter.
"The speed, efficiency and transparency of this working capital line of financing has been truly exemplary. We are pleased to have partnered with such high-quality investors," said Dhru Desai, Chairman of Quadrant 4.