Staples Sells MSP Thrive Networks to MetTel
Telecom provider MetTel has acquired managed service provider Thrive Networks from big box office supplies and electronics retailer Staples (SPLS), the companies announced today. Financial terms of the transaction were not disclosed. Staples first acquired Thrive in 2007.
The deal follows a similar one in January 2014 when big box electronics and appliances retailer Best Buy sold off its managed services arm, mindShift to copier manufacturer Ricoh. Best Buy acquired MindSHIFT in 2011. Telecom providers and copier manufacturers are two of the primary industries that have looked to buy into managed services by acquiring established MSPs. MSPmentor first wrote about the potential sales in 2013.
Thrive Networks provides IT managed services for businesses nationwide and ranked 44th on this year’s MSPmentor 501 Global Edition.
MetTel said the acquisition will broaden and strengthen its managed service offering, which will now include:
- Data protection
- Network management and monitoring
This managed service offering also will feature cloud-based email, file sharing and data back-up.
“With this partnership, we will be able to offer Thrive Networks’ wide range of managed service capabilities to our customers to provide end-to-end networking and managed service solutions,” MetTel CEO Marshall Aronow said in a prepared statement. “With the addition of Thrive Networks, we know we will be able to continue to provide the best service from coast-to-coast.”
The 71-person Thrive Networks team will continue to operate out of the managed service provider’s (MSP’s) network operations center in Tewksbury, Massachusetts, according to MetTel.
“We believe that the combination of our two firms’ expertise and service-first attitude will lead to exceptional service offerings for all of our respective customers,” Thrive Networks Chief Technology Officer Dylan O’Connor added.
What does the acquisition mean for both companies?
Thrive Networks’ capabilities and network operations will be enhanced, MetTel said, because the MSP will gain access to network hubs in California, New York, Illinois and Texas.
Steve Tunney, MetTel’s executive vice president of strategy and planning, said his company will continue to search for “strategic opportunities” to bolster its communications portfolio as well.
“MetTel will continue to look at strategic opportunities, whether it be through acquisition, partnership or joint venture, to enhance its enterprise communications portfolio and bring added value to our customers,” he said. “The managed services offering and talented team at Thrive Networks are [great additions] to MetTel that will drive incremental growth.”