Thursday, April 30, 2009

Platinum Equity Buys Canvas Systems

Los Angeles-based private equity firm Platinum Equity said Thursday that the firm has acquired a majority stake in Canvas Systems LLC, a supplier of used and refurbished IT equipment and services. Financial terms of the deal were not disclosed. Platinum said it purchased Canvas Systems from Atlanta-based OHC, LLC, which also owns IT consulting firm Corus360. Canvas Systems sells refurbished IT equipment, including servers, storage, network equipment, and telephony equipment. The firm is based in Norcross, Georgia.

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