Konica Minolta Acquires South Burlington's SymQuest
Konica Minolta Business Solutions, U.S.A has purchased South Burlington-based, SymQuest.
SymQuest was founded in 1996 and also has offices in Rutland, New Hampshire, New York and Maine. Company headquarters are split between Maine and Vermont. The company provides a variety of computer and network services for business.
In announcing the acquisition, Konica Minolta, which has more than 41,000 employees worldwide, said it will retain SymQuest’s 186 employees.
The company said, “the acquisition accelerates Konica Minolta’s rapid growth with an increased presence in targeted geographic markets.”
SymQuest reported sales of $38.5 million in fiscal year 2014.
Co-founder Larry Sudbay, a University of Vermont graduate, serves as SymQuest’s President and CEO.
In a 1999 article in the magazine Business People-Vermont, Sudbay described how he and co-founder Pat Robins started the business which was first located on Cherry Street in Burlington.
“We did not have a company name, we had no line of credit, no vendor authorizations, no real employees,” Sudbay told the magazine.
According to the article, in less than two months SymQuest was sending out its first invoice for services.
SymQuest moved to its current location in Technology Park in South Burlington in 1998.