Charlotte-based Technekes acquires stake of Atlanta tech firm

Charlotte-based business-to-business marketing firm Technekes has acquired a large stake in longtime partner Xceleration, an Atlanta-based technology company that provides incentive and recognition software.

As part of the deal, Xceleration will move its headquarters to Charlotte. Together, the two companies will operate in 30 states and Canada.

The historic Grinnell Water Works Building in Midtown will house both companies’ offices. The 30,000 square-foot building is located at 1431 W. Morehead.

Terms of the deal were not disclosed. Neither of the two companies could not be reached for comment.

“We’ve worked hand in glove with Xceleration for years,” Steve Amedio, Technekes’ president and COO, said in a statement released Wednesday. “Our missions are the same – helping clients maximize sales and marketing efforts.”

As part of the deal, the two companies will control a majority stake in Gravy, a gift-giving application geared toward business professionals.

This story was originally published July 2, 2015 at 10:23 AM with the headline "Charlotte-based Technekes acquires stake of Atlanta tech firm."