November 1, 2022
Virtual Telecomm, an 18-year-old agency known for its SD-WAN and UCaaS transformation chops, is joining New Jersey-based Bluewave. They did not disclose the financial terms of the transaction. The deal marks Bluewave’s fifth in the last year, each fueled by Columbia Capital’s $75 million growth investment.
Virtual Telecomm’s three partners will assume roles as Bluewave ambassadors and equity partners. Those partners are founder and chief strategy officer Mark White, vice president of strategic partnerships Michael White and president Jason Hulsewede. Bluewave has carved out two main roles for the owners of companies it buys. The first, which includes Mark Spremo of Telapprise, are managing partners, who will perform a day-to-day role with Bluewave. The latter, Bluewave ambassadors, maintain equity in the company but do not engage in a day-to-day role with the company.
Mark White founded the company in 2004.
Bluewave’s Mark White
“We believe that there has never been a more important time for companies to have the right solutions to compete in today’s economy,” White said. “We are thrilled to join forces with the ever-growing Bluewave team, who share our values and believe in the continued investment across the company to ensure our customers have the best experience and ultimately achieve the best outcomes from their IT investments.”
Virtual Telecomm employs about 15 people.
Mark White joined forces with Michael White and Hulsewede in 2006 and 2010, respectively. They built Virtual Telecomm’s customer base to more than 1,000, many of which are midsize enterprises.
Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.
Bluewave’s Seth Penland
Moreover, the company has built strong roots in Louisville, Kentucky. For example, it has thrice consecutively landed in the top ten in the list of Best Places to Work in the Greater Louisville Area. It also serves as the Louisville City Football Club’s official partner.
“Mark, Michael, and Jason have created a great company. Their vision aligns with Bluewave’s purpose: to help companies purchase and manage technology in a better way that optimizes their business outcomes,” said Seth Penland, Founder and CEO of Bluewave. “We are excited to welcome the Virtual Telecomm team and have their leadership team’s guidance going forward as we build upon the strong foundation established in Louisville.”
In the meantime, Bluewave is pursuing agencies that want to adopt its brand, platform and playbook. In addition to using its capital for inorganic growth, the firm has also made high-profile hires, including Curt Allen and Eric Brooker.
Read more about:Agents
About the Author(s)
You May Also Like