Pomeroy Seeking Managed Services, Cloud Services Acquisitions
Pomeroy, a VAR 500 company, apparently is on the acquisition trail. Indeed, the IT services firm has named Chris Quish VP of mergers, acquisitions and corporate development. According to a prepared statement, Quish will focus on acquiring acquiring cloud service providers, infrastructure management firms, and remote management and monitoring companies (RMM). The move is part of a growing trend in the MSP market.
Quish previously worked at Trinsic Advisors, an M&A advisory firm. He has more than 20 years of experience in corporate development, hosting, managed services,and cloud computing. Earlier, he worked at Computer Sciences Corp., and Cable & Wireless (C&W). At both CSC and C&W, Quish was involved in managed services acquisitions, business development and major reorganizations.
Generally speaking, it sounds like Pomeroy is in the market for larger MSPs … and perhaps even software companies. In recent weeks, MSPmentor has heard about at least two major IT companies looking to sell of their RMM software businesses.
So far in 2011, most of the major managed services M&A activity happened in Q1. But we’re seeing signs that M&A activity could further accelerate in the days and weeks ahead. Two reasons…
- TDS Hosted & Managed Services hired Nimsoft veteran Phil LaForge in mid-2011 to help pinpoint key acquisition targets.
- Cogent Growth Partners has spent this year advising multiple MSPs on potential buy-side deals.
- MSPmentor is aware of at least three pending M&A deals that have yet to be announced, though details are expected by September 2011 or sooner.
Back at Pomeroy, we’ll be watching to see if Quish finds acquisition targets.