Source: www.webwire.com

DALLAS – Architel, a Dallas-based IT infrastructure outsourcing company, has signed a definitive agreement to acquire the assets of Atlas Technology Group, Inc. (OTC BB: ATYG), including ATG US, Tribeworks, Inc., Atlas Group Holdings Limited, and Atlas Technology Group NZ. Financial terms of the agreement were not disclosed.

AtlasTG, headquartered in Seattle, provides outsourced application software support services and software for clients worldwide. The company specializes in remotely supporting custom-built applications and networks using proprietary process, monitoring, and management systems.

As a publicly traded company, AtlasTG’s market capitalization was recently as high as $47,450,000. The new company formed from AtlasTG’s assets will be 100 percent debt-free, and will operate as a private, wholly owned subsidiary of Architel.

“Recent developments in software, monitoring systems and communications now permit IT outsourcing services to be effectively offered from remote sites,” said Scott Ryan, chief executive officer of Architel. “Adding AtlasTG’s software and support capabilities extends our ability to serve new client segments and to build upon AtlasTG’s global customer base.”

“This agreement ensures that AtlasTG customers will continue to receive the high level of service they have come to expect – and that’s only the beginning,” said Dennis Sita, chief technology officer at AtlasTG. “Combining AtlasTG’s technology and know-how with Architel’s human and capital resources will enable us to bring innovative services to market and reach our full potential.”

In addition to its core support services, AtlasTG in August introduced AtlasTG Tools 3.0, a software suite for IT management and monitoring that offers more comprehensive integration than other products on the market. A software-as-a-service offering, AtlasTG Tools 3.0 includes reACT™ incident management software, proACT™ monitoring software, bizACT™ reporting software, and interACT™ knowledge management software.

“AtlasTG’s product development team now has the resources to drive the software-as-a-service model using the diverse toolset developed by AtlasTG over a period of three years and at a cost of millions of dollars,” said Architel co-founder Alexander Muse, who will assume the role of chairman of AtlasTG.

With the addition of AtlasTG’s support and software businesses, Architel will maintain support operations in Dallas; Seattle; and Manila, Philippines.

Also as part of the transaction, Architel will acquire BLive Networks, a hosted desktop sharing service purchased by AtlasTG in 2006.