Thursday, November 6, 2008

CYA Technologies acquired by enChoice

By Mass High Tech Staff

An Arizona company, Chandler-based enChoice Solutions, has acquired Connecticut enterprise content management (ECM) player CYA Technologies Inc.

CYA employees will continue to be based in Shelton, Conn., and CYA CEO Wayne Crandall will continue to direct operations, according to enChoice officials. Once the acquisition is complete, in January 2009, CYA will operate as a division of enChoice.

EnChoice CEO Tony White said the acquisition complements the company’s existing offering and will enable the company to extend its reach to ECM users of all sizes, worldwide. Terms of the acquisition were not disclosed.

Last August, CYA pulled in a $3 million third round of venture funding, bringing its total venture capitalization to $10.3 million. Backers include Connecticut Innovations, HIG Ventures and Cambridge-based YankeeTek Ventures, which is now defunct. HIG Ventures operates offices in Atlanta and Miami. Trumbull, Conn.-based Phoenix Systems spun out CYA in 1998 with technology to protect data with recovery and replication solutions.

EnChoice was formed in 2006 with the merger of Florida-based en Technologies Corp. and Dallas-based ICI Solutions Inc., both IBM Corp. (NYSE: IBM) business partners.