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NEW YORK, Oct. 17, 2024 /PRNewswire/ -- GenNx360 Capital Partners ("GenNx360"), a New York-based private equity firm, is pleased to announce it has entered into a definitive agreement to sell its portfolio company, ITsavvy LLC ("ITsavvy" or "the Company"), a provider of end-to-end IT infrastructure solutions, to Xerox Holdings Corporation ("Xerox"). The transaction is expected to close following customary regulatory approvals.
ITsavvy is an Oak Brook, Illinois-based technology solutions and services provider that delivers frictionless IT experiences by designing, developing and delivering technology infrastructure solutions and services that accelerate business outcomes on behalf of its clients.
During GenNx360's investment, the Company experienced impressive organic growth, completed an acquisition of a highly strategic AIOps-enabled managed services provider ("MSP") and significantly increased overall profitability through a number of well-executed margin enhancement initiatives. A committed focus to the Company's services strategy further fueled organic growth and strengthened the Company's overall value proposition. Through the support of GenNx360, the Company also successfully launched an AI and Intelligent Automation strategy. This strategy included commercializing an AI offering to better serve the Company's clients, as well as optimizing the Company's internal operations.
"The success of our investment in ITsavvy is a testament to the growth achieved during our partnership with management over the past two years. We are pleased with the Company's transformation under our ownership and wish Munu and team all the best going forward," said Ron Blaylock, GenNx360 Founder, Managing Partner, and Chairman of the ITsavvy Board of Directors.
"We appreciate GenNx360's support and strategic insights over the past two years. They have been an outstanding partner to work with to enhance and evolve our platform," said ITsavvy CEO, Munu Gandhi. "We are excited to join forces with a longstanding company in Xerox, one of the great global brands, and we look forward to supporting their next stage of growth."
"As part of our Reinvention, we have created a greater organizational focus on our emerging IT Services capabilities," said John Bruno, President and Chief Operating Officer at Xerox. "ITsavvy's complementary offerings, combined with our reputation, position us to accelerate growth across key markets and unlock new opportunities to help clients transform the way they work."
"It has been a privilege to work with Munu and the ITsavvy team over the past two years. We are incredibly proud of the Company's growth and look forward to following their success in the future," said Peter White, Principal at GenNx360 and ITsavvy Board Member.
Loeb & Loeb and Greenberg Traurig served as legal advisors to ITsavvy and GenNx360.
About ITsavvy LLC
ITsavvy is an industry-leading IT infrastructure solutions provider with comprehensive value added resell capabilities. Founded in 2004 in suburban Chicago, ITsavvy provides frictionless client experiences through the deployment of holistic solutions that deliver client business outcomes. For more information on ITsavvy, please visit www.itsavvy.com.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries with the objective of implementing and supporting value-enhancing organic and inorganic initiatives to accelerate growth, deliver cost efficiencies, and generate strong financial returns. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360, please visit www.gennx360.com.
For media inquiries about this press release, please contact:
Alicia Francis, Head of Investor Communications
investorrelations@gennx360.com
Phone: 929.287.6107
NEW YORK, Oct. 17, 2024 /PRNewswire/ -- GenNx360 Capital Partners ("GenNx360"), a New York-based private equity firm, is pleased to announce it has entered into a definitive agreement to sell its portfolio company, ITsavvy LLC ("ITsavvy" or "the Company"), a provider of end-to-end IT infrastructure solutions, to Xerox Holdings Corporation ("Xerox"). The transaction is expected to close following customary regulatory approvals.
ITsavvy is an Oak Brook, Illinois-based technology solutions and services provider that delivers frictionless IT experiences by designing, developing and delivering technology infrastructure solutions and services that accelerate business outcomes on behalf of its clients.
During GenNx360's investment, the Company experienced impressive organic growth, completed an acquisition of a highly strategic AIOps-enabled managed services provider ("MSP") and significantly increased overall profitability through a number of well-executed margin enhancement initiatives. A committed focus to the Company's services strategy further fueled organic growth and strengthened the Company's overall value proposition. Through the support of GenNx360, the Company also successfully launched an AI and Intelligent Automation strategy. This strategy included commercializing an AI offering to better serve the Company's clients, as well as optimizing the Company's internal operations.
"The success of our investment in ITsavvy is a testament to the growth achieved during our partnership with management over the past two years. We are pleased with the Company's transformation under our ownership and wish Munu and team all the best going forward," said Ron Blaylock, GenNx360 Founder, Managing Partner, and Chairman of the ITsavvy Board of Directors.
"We appreciate GenNx360's support and strategic insights over the past two years. They have been an outstanding partner to work with to enhance and evolve our platform," said ITsavvy CEO, Munu Gandhi. "We are excited to join forces with a longstanding company in Xerox, one of the great global brands, and we look forward to supporting their next stage of growth."
"As part of our Reinvention, we have created a greater organizational focus on our emerging IT Services capabilities," said John Bruno, President and Chief Operating Officer at Xerox. "ITsavvy's complementary offerings, combined with our reputation, position us to accelerate growth across key markets and unlock new opportunities to help clients transform the way they work."
"It has been a privilege to work with Munu and the ITsavvy team over the past two years. We are incredibly proud of the Company's growth and look forward to following their success in the future," said Peter White, Principal at GenNx360 and ITsavvy Board Member.
Loeb & Loeb and Greenberg Traurig served as legal advisors to ITsavvy and GenNx360.
About ITsavvy LLC
ITsavvy is an industry-leading IT infrastructure solutions provider with comprehensive value added resell capabilities. Founded in 2004 in suburban Chicago, ITsavvy provides frictionless client experiences through the deployment of holistic solutions that deliver client business outcomes. For more information on ITsavvy, please visit www.itsavvy.com.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries with the objective of implementing and supporting value-enhancing organic and inorganic initiatives to accelerate growth, deliver cost efficiencies, and generate strong financial returns. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360, please visit www.gennx360.com.
For media inquiries about this press release, please contact:
Alicia Francis, Head of Investor Communications
investorrelations@gennx360.com
Phone: 929.287.6107
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
GenNx360 Capital Partners Enters Agreement to Sell ITsavvy to Xerox Holdings Corporation
BEIJING, Jan. 11, 2026 /PRNewswire/ -- On December 29, the "Forging the Path to National Strength: China's Manufacturing Achievements Under the 14th Five-Year Plan," jointly organized by the National Museum of China and the Ministry of Industry and Information Technology, officially opened at the National Museum of China, showcasing more than 300 top national achievements. GAC's "National Outstanding Engineer Team" successfully developed both the Magazine Battery and the Solid-State Battery, which were selected for the exhibition.
The GAC Magazine Battery is the first battery system to pass both the nail penetration no-flame and non-ignition safety tests. By utilizing ultra-high intrinsic safety cells, an all-weather "vehicle-end + cloud-based" active safety monitoring system, and a multi-dimensional safety protection system, the Magazine Battery achieves three layers of protection: core, active, and passive. Its safety performance far exceeds the electric vehicles traction battery safety requirements (GB38031-2025), which will take effect on July 1, 2026. Currently, the Magazine Battery has a cumulative deployment of 1.3 million vehicles with zero spontaneous combustion and over 50 billion kilometers of safe travel, providing users with robust safety assurance for every journey.
GAC's self-developed large-capacity solid-state battery has achieved an energy density exceeding 400 Wh/kg and easily passes rigorous safety tests such as 200°C thermal chamber and nail penetration tests, effectively addressing users' range anxiety and safety concerns. Innovations in materials and processes have placed the solid-state battery at the forefront of the industry in key indicators such as safety, energy density, and cycle life, providing a superior power solution for the future development of NEVs. Currently, a pilot production line for GAC's solid-state battery has been established, capable of mass-producing vehicle-grade solid-state batteries over 60 Ah, marking a critical step toward the goal of full vehicle integration by 2026.
Over the years, GAC has been steadily enhancing its competitiveness through innovations across intelligent connectivity, NEV powertrains technologies, and forward-looking technologies. Looking ahead, GAC will continue to deepen its efforts in the intelligent connected NEV field, leveraging more leading technological achievements to drive industry progress.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
GAC Magazine Battery and Solid-State Battery Win Top National Honor
