Cynergis Tek Sells MPS Business to A Healthcare Document Services Provider for $30 Million

Originally published at wirthconsulting.

Cynergis Tek Sells MPS Business to Vereco for $30 Million

Cynergis Tek, Inc. reported that it’s sold the assets used in its managed print services (MPS) business division for $30 million to Vereco, LLC, an independent provider of healthcare document services, including printing solutions for hospitals.

CynergisTek management believes that this transaction will enable CynergisTek to prioritize its core cybersecurity and privacy services.

Under the asset sale agreement, all operations and assets of CynergisTek’s MPS business division were transferred to Vereco. CynergisTek will continue to operate its business division of cybersecurity, privacy, and compliance management consulting. Subject to the terms and conditions of the agreement, the total consideration to CynergisTek is $30 million, of which $1.5 million is subject to future sales activity of the MPS business.

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