Torch Technologies Completes Sale of Torch Systems.

 

Huntsville, July 7, 2009:

 

Effective June 30, 2009, Torch Technologies, Inc. completed the sale of Torch Systems, LLC to nLogic, Inc. The transaction was facilitated through a management/employee-led buyout and will be transparent to both the current Torch Technologies and Torch Systems customers. The acquisition provided a mechanism for both companies to mitigate Organizational Conflict of Interest (OCI) issues. Historically, Torch Technologies has provided services directly to Government customers while Torch Systems, LLC was primarily focused on providing services to Prime Contractors. Following this divestiture, Torch Technologies will focus exclusively on providing services to Government Agencies." We are extremely pleased that we were able to resolve any potential OCI concerns while, at the same time, doing it in such a way to offer the Torch Systems employees the greatest chance of being successful and creating an employee ownership environment similar to the one they enjoyed as a part of the Torch Technologies family. The Torch Systems employees and management will be in a position to control their own destiny and I couldn't be happier for them. All of us at Torch Technologies wish them great success" says William Roark, CEO and Co-founder of Torch Technologies.

 

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