Searchlight Solutions, a technology venture holding company that provides business development and high level management services for early stage technology companies pursuing the benefits of the public marketplace, has completed the closing of the definitive agreement for the acquisition of the majority control of the common stock of Linux Labs International Inc.

The transaction was finalized as a share exchange.

Linux Labs International Inc. is a hybrid engineering firm specializing in technologies that expand the field of high performance supercomputing.

Linux Labs designs and builds high-performance supercomputers utilizing their proprietary NimbusOS.

"The closing is a momentous occasion for our company. Linux will be the foundation for building our long term growth plans. We look forward to moving rapidly to integrate growth and bring value to our shareholders," said company management in a statement.

TMCnet in April reported that Searchlight Solutions announced its business goals for the upcoming days. The mode of acquisition features prominently in the company’s scheme of things. In a press release, the technological holding firm announced that it is in the lookout for appropriate acquisition targets with viable revenue models. For acquisitions, Searchlight will be considering only those organizations that are in need of its services, the officials at the company explained.

In the release, Searchlight noted that it expects to receive several acquisition offers over the next twelve to eighteen months.

According to the company, the acquisitions will enhance the overall value of the company. The acquisition will give the company its "in-house" technology support team from within. In addition, the company will benefit financially by consolidating the assets of the acquired company.

Midtech Holdings was one of the first companies to be taken over by Searchlight. Midtech was later renamed Searchlight Scientific Inc. and designated as the operating entity for ongoing business.

Search Light Scientific Inc. as a next generation data services company is focused on developing and growing cloud based solutions to solve tomorrows computing challenges.