Infinity Network Solutions, Momentum Make Acquisitions
MSPmentor got wind of two acquisitions this past Fourth of July weekend, adding to the long list of mergers and acquisitions (M&As) already this summer. Infinity Network Solutions Inc., an IT services company for small to mid-sized businesses and public sector agencies, has acquired Giddens Network Services, a division of Giddens Consulting, Inc., of Covington, Ga.; and Momentum, a cloud communications provider, acquired the assets of St. Louis area Twist Networks, a wholly-owned subsidiary of Communications Technologies, Inc. (CTI). Here are the details.
Infinity Network Solutions acquires Giddens Network Services of Covington, Georgia
Financial details of this transaction were not disclosed, but here's what we do know. Infinity Network Solutions said that Giddens Network Services will continue to conduct business as a division of Infinity. Infinity Network Solutions President and CEO Robert C. Betzel will lead the integration.
"This acquisition further strengthens our presence in the Covington and northeast Georgia marketplace," he said in his prepared remarks. "We see the integration of Giddens Network Services into our organization as a logical step in the growth of Infinity."
Chuck Giddens, president of Giddens Consulting, Inc. will remain involved during the transitional period in an advisory role, and said in a prepared statement that customers will "enjoy an extremely high level of support and service with this transaction." Another company, Giddens Software Systems was not included in this transaction.
Momentum acquires Twist Networks
Cloud communications provider Momentum announced its acquisition of Twist Networks today to strengthen its presence in the St. Louis business solutions market, Momentum said.
Momentum said the deal included the creation of a retail value-added reseller (VAR) agreement between Momentum and CTI.
"Pairing Momentum's award-winning cloud PBX product line with CTI’s proven track record of selling and implementing advanced communications solutions to businesses in the St. Louis region builds a foundation for success and creates a tremendous opportunity for growth," said Momentum Chief Financial Officer Matthew Conroy.
Twist Networks has been a Momentum wholesale VoIP partner since 2010.
Momentum said its VAR team has nearly tripled in size and the indirect channel program now has established regional sales and engineering teams in some business markets worldwide, including Boston, Denver, Los Angeles/Orange County, Nashville, Dallas, Chicago, Miami and Birmingham.