Managed Services Acquisition: All Covered Buys Alteritech
Interestingly, All Covered CEO Todd Croteau points out that unlike most of the company’s acquisitions, Alteritech was formed by Acumen Solutions with full intent to spin it off when they caught the eye of a potential suitor. All Covered fit the bill, though financial details weren’t disclosed.
Under the deal, Alteritech will bolster All Covered’s existing DC/Baltimore presence to bring them to a total of 50 local employees and 50 remote support staff serving 200 clients. And as an added bonus, Croteau says that Alteritech has a focus on cloud computing that will prove beneficial to All Covered going forward. While All Covered definitely already has cloud services in its portfolio, he says that they appreciate the chance to grow their knowledge base in a rapidly shifting field.
And speaking of growth, we shouldn’t expect All Covered to stop here. MSPmentor has Croteau on the record as saying that All Covered will be making as many as 50 acquisitions in the next three years – and when we spoke last week, he joked that we were at 49 and counting. The point of all this acquisition action, he says, is because it simply grows All Covered faster than it could on its own.