Today One Stop Systems (OSS) announced that it has completed a merger with Magma, with OSS as the surviving entity. Both companies are market leaders in PCIe expansion technology used to create high-end compute accelerators and flash storage arrays. Together they become a dominant technology leader of PCIe expansion appliances.
The merger of Magma with One Stop Systems brings together two creative forces that increases our market breadth and creates a greater diversity of products to better meet our customers’ needs,” said Steve Cooper, OSS CEO. “Magma has a long history of developing and producing expansion products for commercial and military applications. One Stop Systems leads the market in latest technology expansion products for high performance computing applications. Together, we now dominate both markets. Customers who have used one company’s products can now take advantage of a wider selection.”
Both companies will continue to operate as separate business units with a strong exchange of talent and expertise. The united companies will realize the benefits and cost savings of combined sales, marketing, accounting, and human resources departments, as well as other areas where there are synergies. Steve Cooper will continue as CEO and President of the combined company while Randy Jones, previously CEO of Magma, will become a major stockholder in One Stop Systems, will serve as a board member and also be appointed Vice Chairman of the OSS Board of Directors. Tim Miller will continue as President of the Magma business unit.
“Performance, economics, and efficiency are key factors within any industry, and both OSS and Magma see these as fundamental necessities in research, product development and serving our national and international customer base, at the highest level,” said Jones. “As such, the merger between OSS and Magma, with similar business cultures, will be tremendously beneficial in growing our industry position worldwide. With the complementary increase in product lines through this merger, our collective client base will avail itself of even more cutting-edge possibilities.” Mr. Jones continued, “I look forward to working with Steve Cooper, whom I have known for a number of years. I have great respect for him and his team. Helping develop the strategic growth plan with Steve and the Board is an exciting opportunity for everyone associated with this transaction.”