AirPatrol with Howard County Executive Ken Ulman, center, during the February ribbon-cutting at the company's new headquarters. Photo via Facebook.
AirPatrol Corp. has been acquired by Silicon Valley-based cyber company Sysorex Global Holdings Corp. for at least $20 million in cash and common stock, and possibly an “earn-out of up to” $10 million depending on AirPatrol’s profitability.
Howard County-based AirPatrol “focuses on wireless and mobile systems” and “has become a subsidiary of Sysorex and will retain its management and operations,” according to the Baltimore Business Journal.
The company employs 25 people worldwide and 12 people full-time at AirPatrol’s Howard County headquarters, which opened in February.