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Invision.com absorbs General Semiconductor IT unit

Long Island Business News, Jun 7, 2002 by Ken Schachter

Invision.com has acquired the former IT department of General Semiconductor in a deal that will accelerate Invision's move into corporate services and add 12 new employees.

Under the deal, Invision's enterprise application development and integration business will absorb the former General Semi IT staffers. That group, in turn, will carry out a multi-year contract to provide a completely outsourced IT department for the remaining General Semiconductor operations in Melville.

Terms of the contract were not released.

In November 2001, Melville-based General Semiconductor merged with Vishay Intertechnology. As part of that merger, Malvern, Pa.-based Vishay plans to ultimately close down the former corporate headquarters of General Semiconductor.

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Rather than simply remaining on the Vishay payroll until the IT jobs were eliminated, Bob Lamendola, who served as General Semi's vice president of IT as well as vice president of IT for Vishay, came up with an alternative. He suggested that his group provide IT services for the remaining 50 employees at General Semi headquarters on a consulting basis. That would allow the group to seek additional work while providing for the needs of Vishay.

The General Semi IT staffers moved into the offices of Invision, which was providing hosting services for the company, early in 2002 in the wake of the merger. By then, headcount had dwindled to 12 from the 19 when the Vishay merger went through.

The move deepened the connection with Invision. Lamendola's team and Invision management began entertaining the prospect of working together. That step led to the latest agreement.

Tyler Roye, Invision CEO, said the addition hastens the growth of his company's corporate business.

"This has spiked the growth of our emerging enterprise application development and integration business," he said in a statement.

Lamendola, meanwhile, said the arrangement with Vishay validates the notion that companies can outsource their IT departments.

"This is a living model that it's possible to outsource the entire IT operations of ... any size organization."

Other additions to Invision as part of the General Semi deal are: Nick Mattera, vice president of network operations; Thomas Lamendola, vice president enterprise applications; and Jorge Restrepo, vice president of enterprise integration solutions. Bob Lamendola will now serve as Invision's executive vice president of enterprise application development and integration.

In recent months, seven-year-old Invision has been seeking a new infusion of venture capital. In 2001, Invision.com closed on $1 million in venture funding from Jericho-based Newlight Management, which brought Newlight's investment to $2.5 million.

The company offers Internet hosting, Web design and development, storage and backup as well as Internet service provider services. The company also operates LIJobs.com, an Internet staffing service and LongIsland.com, a directory and online community.

Inivision, which developed and hosts the Long Island Business News Web site, was founded in 1995 with initial $600 investments from its six co-founders: Chief Executive Officer Tyler Roye, Chief Operating Officer Eric Manno, Chief Financial Officer Mark Manno, Chief Technology Officer Matt Martini and Chief Creative Officer William Egan.

In January, the company received a Deloitte & Touche Fast50 Award as the second fastest growing technology company on Long Island.

Invision.com absorbs General Semiconductor IT unit

Long Island Business News, Jun 7, 2002 by Ken Schachter

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