L3 Technology Group Inc., the global technology company, announced today that it has acquired L2 Technologies for an undisclosed amount.
The transaction is expected to close in the fourth quarter of 2020.
L2 has focused on cloud computing, cloud services and data centers for a number of years.
L3 CEO and founder Jim Johnson will remain CEO of L2, the company said.
L3 will continue to focus on its core businesses, including its Cloud Platform and Enterprise Solutions business.
“We look forward to continuing to invest in L2’s growth and building on the strong relationship with our customers, who we expect will continue its strong momentum,” Johnson said.
L2 Technology, based in New York City, is owned by former Microsoft COO John Pfeifer.
It offers a suite of cloud-based services, including a suite for data centers and software solutions for enterprise applications, and offers an array of solutions to help IT manage and protect IT assets.
LMS is also a member of the IT Industry Association.LMS has been a strong leader in cloud computing for the past five years.
In 2016, it led Amazon Web Services’ revenue for the first time in seven years.
It has also become a leading cloud provider in the enterprise, with a presence in more than 150 countries and more than 40 cloud regions.
The acquisition comes as the IT industry continues to see rapid growth, with data centers increasing their capacity and data-center infrastructure being upgraded at a faster pace.
The industry has been experiencing a shift from traditional cloud-centric IT environments to hybrid cloud services, which allow for increased data access and data analytics.