Intechra, RetroBox Merger Creates Largest Information Technology Asset Disposition Company
8 November 2005
Intechra Holding Corporation and RetroBox LLC today announced a definitive agreement to merge, creating the largest full-service information technology asset disposition company in the U.S. with annual revenues of approximately $40 million. The combined company will operate as Intechra.
IT asset disposition helps companies retire IT assets (personal computers, servers, monitors, printers, etc.) in compliance with federal privacy regulations, state and local environmental laws and in-house environmental policies. Intechra will have processing centers in three cities (Columbus, Ohio; Dallas, Texas; and Phoenix, Ariz.) and will be the only full-service IT asset disposition company in the United States with national, geographically dispersed locations. Intechra’s operations will be headquartered in Dallas and will have sales offices in 10 cities.
“Both Intechra and RetroBox have a strong track record in a young but rapidly growing industry,” said Lynn C. (Chip) Slack Jr., Intechra chief executive officer. “The industry has reached a level of development and the customers’ needs have grown to the point where it makes sense on many levels to create a company with a size and scale that can take maximum advantage of the significant market potential.”
Stampp Corbin, RetroBox’s founder and chief executive officer, said the companies complement each other in many ways.
“Intechra and RetroBox have distinct sales channels and strong customer bases with little duplication,” Corbin said. “While Intechra sells primarily through computer manufacturers and wholesalers, RetroBox for the most part sells directly to Fortune 1000 companies. In essence, we have complementary geographic markets that will improve customer service.”
Corbin will remain with the company as Intechra’s chief strategic officer.
“RetroBox is well known and highly regarded by its customers and competitors,” Slack said. “In addition to merging with a solid company, we get the added benefit of Stampp’s passion for and knowledge of the industry as we grow the business together.”
The U.S. Environmental Protection Agency estimates that Americans will retire 100 million personal computers in the next year. Large national and multinational companies are paying more attention to IT asset disposition because of federal privacy laws, such as Healthcare Insurance Portability and Accountability Act (HIPAA) and the Gramm-Leach-Bliley Act, as well as environmental legislation in 40 states addressing e-waste.
Cindy Brannon, who joined Intechra late last year, has been named chief operating officer. Prior to Intechra, she was with Compaq for 17 years and served as general manager for their $350 million remarketing and remanufacturing division.
“Retired IT assets are fraught with data security and environmental issues,” said Brannon. “Intechra is able to offer customers a level of confidence thanks to liability indemnification, guaranteed security and disposition reporting for all IT assets.”
Intechra offers all aspects of IT asset disposition, including:
Data destruction, which indemnifies owners by overwriting and erasing data on hard drives using Department of Defense standards
Remarketing, which generates revenue for our clients from retired assets
Environmental recycling, which eliminates a client’s environmental risks by extracting all recyclable materials from assets and keeping toxic materials found in IT assets out of landfills
“Three geographically dispersed processing centers will give our customers significant savings on shipping and ensure their remarketed assets get to market faster,” Brannon said.
The company’s significant investors are Chrysalis Ventures in Louisville, Ky.; Clayton Associates in Nashville, Tenn.; Votum Capital in Jackson, Miss.; WestWind Partners LLC in Quad Cities area of Illinois; and Stampp Corbin. No investor owns a majority of the company.
The terms of the transaction, which is expected to close in the next few weeks, were not disclosed.
ABOUT INTECHRA
Intechra is a full-service IT asset disposition company with $22 million in revenue and more than 125 employees at its Dallas processing center. Founded in 1987 as Resource Concepts Inc., the company pioneered IT asset recycling and now also provides data destruction and remarketing to corporate customers. It sells brand-name refurbished computer equipment through Outlet Computer (www.outletcomputer.com) and a vast network of domestic and international resellers. Intechra is a wholly owned subsidiary of Intechra Holding Corporation.
ABOUT RETROBOX
RetroBox is an accomplished information technology asset disposition company specializing in the efficient retirement, redeployment, remarketing and recycling of desktop computers, notebooks, servers, networking equipment and associated peripherals. RetroBox lowers the total cost of ownership while guaranteeing that equipment does not enter the secondary market with software or corporate secrets resident on hard drives, and eliminating the environmental and legal risk associated with e-waste.
Source: PR Web
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