On Target Voice and Data Inc. in Orange has acquired some assets of Fusion IP, an Irvine-based IT services provider.
On Target, an electrical and telecommunications contractor, acquired Fusion’s customer data base and equipment, a spokesperson said. Three of Fusion’s employees will join On Target.
Financial terms of the deal were not disclosed.
The buy extends On Target’s product offerings in monitoring and managing customer networks, technical support, cloud computing, data center network security, storage, virtualization, VoIP (Voice over Internet Protocol) and video conferencing services.
Fusion IP saw annual revenue of more than $1.5 million.
On Target has annual revenue of more than $4 million, according to the company.
The deal is emblematic of a larger consolidation shift playing out in the industry, as smaller companies aim to gain market share in cloud and other services amid a field of larger competitors.