Local IT firm since ’89 sold

Konica Minolta division buys Service Assurance

After more than two decades as a locally owned enterprise, Memphis-based Service Assurance has been acquired by Foster City, Calif.-based All Covered, a division of Konica Minolta Business Solutions USA, company officials confirmed Tuesday.

The information technology company will continue to operate as Service Assurance for the next several months while it transitions to the All Covered brand. There will be no reduction in Service Assurance’s 50person workforce, and company leaders expect to hire additional employees in the next year.

Financial terms of the deal were not disclosed.

The move comes six months after Service Assurance expanded beyond its 10,000-square -foot headquarters at 6935 Appling Farms Pkwy.

Citing increased demand for its services and cramped working quarters, last August leaders of the firm transferred its sales, marketing and project management operations to a 5,000square -foot at Timber Creek Office Park, near Germantown Parkway and Dexter in Cordova.

Company co -founder Mark Giannini, who will remain with the firm as managing director, said plans call for developing a larger space that will house the entire All Covered team.

In addition to Giannini, Service Assurance co - founder Kelli Mitchell will remain with the company as director of service delivery.

“We’re actively searching for a property where we will have everyone under one roof and have enough space to accommodate what we expect will be a continued growth pattern,” Giannini said.

The Memphis market is attractive because of the potential to boost its client base, said Todd Croteau, president of All Covered.

“Memphis is an area where we can grow because customers there place a high emphasis on service and our resources allow for that,” Croteau said. — James Dowd: (901) 529-2737