When PlumChoice announced it had acquired Everon Technology Services, a well-known MSP, I had plenty of questions. So I went looking for answers -- and I spoke directly with Everon President Michael Cooch. In this FastChat video, Cooch describes why Everon sold to PlumChoice, potential long-term synergies, and exit strategy tips for MSPs that looking for potential buyers. Here's the video.
Within the FastChat Video below, Cooch Covers:
- 0:00 - Introduction
- 0:15 - Why sell, why now?
- 1:03 - Potential synergies between PlumChoice and Everon
- 2:38 - Exit strategies - th0ughts and tips
- 4:40 - More info and web links
Also Worth NotingOff camera, Cooch confirmed that he's joining PlumChoice full-time as a vice president and general manager. PlumChoice has also retained the entire Everon team. We did not discuss MSP valuations or PlumChoice's purchase price for Everon; financial details about the deal remain confidential.
Meanwhile, Cooch also will remain CEO of Kutenda, which specializes in marketing and search engine optimization (SEO) solutions for VARs and MSPs. Still, Cooch is quick to note that Kutenda's staff manages day-to-day operations while he focuses on the longer-term vision.
More Deals ComingDuring the ConnectWise IT Nation conference last week, I heard from a handful of MSPs that are mulling more merger and acquisition activity. Moreover, N-able VP of Sales Mike Cullen is kicking around a few ideas to help N-able MSPs to more easily network with one another. And a ConnectWise customer told me he may launch a consulting service that helps MSPs to combine their PSA systems during the merger process.
No doubt, M&A talk remains loud. But be careful of all the hype. I suspect Everon sold from a strong position... but I also hear about plenty of deals involving VARs and MSPs that are selling at low valuations because of executive fatigue and scaling challenges.
Sign up for MSPmentor’s Weekly Enewsletter, Webcasts and Resource Center. Follow us via RSS, Facebook, Identi.ca and Twitter. Check out more MSP voices at www.MSPtweet.com. Read our editorial disclosure here.