JPMorgan-backed software maker grabs 2 Phila-area firms
ANXeBusiness says it's acquired ETSec and S2S
ANXeBusiness Corp., Southfield, Mich., has bought two Philadelphia-area firms, the latest in a string of acquisitions as it builds a national security-software business. ANXeBusiness is owned by One Equity Partners, an investment manager for JPMorgan Chase & Co.
Last week, ANXeBusiness CEO Rick Stanbaugh said his firm had acquired ETSec Inc., a Mount Laurel firm that sells patient security and tracking systems to healthcare and drug firms, for an undisclosed sum. ETSec founder Susan Lutz confirmed the sale. ANXeBusiness spokesMAN Ronnie Manning said all 35 ETSec employees "would be offered positions to stay."
The combined companies, Manning added, will employ 100. Revenues will be "between $50 million and $75 million."
On Feb. 5, ANXeBusiness said it acquired S2S Communications, Conshohocken, which sells "networking and security managed services" to large companies, also for an undisclosed sum, S2S chairman and ceo Mike Kelsen said in a statement.