Xeta Technologies (NASDAQ: XETA) has closed the acquisition of Pyramid Communications Services it announced in April. Now a division of Xeta and previously privately held, Pyramid provides communications equipment, applications and related services. Xeta says Pyramid's annual revenues exceed $10 million.
According to Xeta, this acquisition adds depth to its sales and service presence in a number of geographic markets. Xeta chief executive officer Greg Forrest says the two companies have competed and partnered for a number of years and that through the now-final acquisition the combined company will "expand our communications design, implementation, maintenance and repair services nationwide."
At the time the acquistion was announced in mid April, Pyramid co-founder Wade Griffin said the deal will allow Pyramid to speed up its transition to the Avaya Connect program.