Colleyville, Texas-based Lauraan Corp. has signed a letter of intent to buy Raleigh-based Syslync, a home technology provider. Lauraan Corp. will purchase all outstanding shares of Syslync with Lauraan shares, and also will assume the company's debt. Specific financial terms of the deal were not disclosed.
Syslync currently has 15 employees and about $1.5 million in annual revenue. Lauraan executives say the deal will not result in any layoffs, and the firm will likely hire four to six more employees for the Raleigh office.The transaction is part of Lauraan Corp.'s plan to build a national footprint of home technology companies, Johnson says. He says the firm already has made two acquisitions and has two more in the pipeline. Lauraan Corp., which currently employs 20 people, hopes to have locations in 25 to 30 markets in the U.S. in the next couple of years.