RALEIGH, N.C.--(BUSINESS WIRE)--6fusion, the company that helps companies operate IT like a true Utility, today announced it has entered into an Asset Purchase Agreement (“APA”) with MarkITx, a global IT hardware marketplace, pursuant to which 6fusion will acquire substantially all of MarkITx assets.
MarkITx built technology to help businesses understand the value of their IT Infrastructure and recoup budget by selling their used equipment in an online auction. 6fusion is leading an industry-wide effort to standardize the unit value of IT consumption, utilizing the patented Workload Allocation Cube (WAC) algorithm inside it’s highly coveted universal meter for IT.
“MarkITx and 6fusion are rooted in the same vision to empower buyers and sellers of IT,” said 6fusion CEO and founder, John Cowan. “We are looking forward to demonstrating some of the new possibilities that this acquisition will create.”
As part of the transaction, 6fusion will retain MarkITx CTO and founder, Ben Blair, in the capacity of Board Advisor to 6fusion. “The fit and synergy between MarkITx and 6fusion has always been very clear,” said Blair. “I am really excited to be joining the 6fusion team as they take our shared vision to the next level.”
Financial terms of the APA were not disclosed.
For more information about 6fusion, visit www.6fusion.com
6fusion empowers the world’s largest companies to buy, operate, and sell IT as a Utility, bridging the gap between the traditional silos of Finance, Technology, and Operations. Our technology enables data driven IT Infrastructure decision making based on real-time consumption metrics, and creates IT Financial Intelligence using the power of data standardization.
The foundation of 6fusion’s platform is the patented Workload Allocation Cube (kWAC). The Workload Allocation Cube (kWAC) is the vendor agnostic, market standard unit of measurement for IT. It works by comparing realtime utilization (workload) against a fixed baseline (allocation) spanning six vectors (cube) - CPU, Memory, Storage, Disk i/o, LAN i/o, and WAN i/o.