outsourceIT Buys East Coast MSP, Hits $20 Million Revenue?
outsourceIT, an MSPmentor 100 company and top 100 cloud services provider (CSP), has quietly acquired another MSP on the U.S. east coast, MSPmentor has learned. Source say the deal pushes outsource IT to roughly $20 million in annual revenues and 100 employees. So what drove this latest acquisition?
Source say outsourceIT is striving to become the largest privately held cloud-based IT provider in the United States. The latest acquisition target has deep roots in the legal IT market. Sources close to the deal say outsourceIT expects to attract mid- to large-sized law firms that need IT guidance.
outsourceIT has made multiple M&A deals in recent years. Back in January 2012, the company merged with GoBeyondIT in order to gain hosted desktop and VDI (virtual desktop integration) expertise. At the time, I believe outsourceIT was about $15 million in annual revenues.
outsourceIT co-founders Craig Guice (CEO and president) and Mark Vliet (CTO) typically surface at the IT Nation conference, hosted by ConnectWise, to keep their fingers on the M&A pulse — and perhaps explore potential target deals.
So, what company did outsourceIT actually purchase this time around?Stay tuned…