Ensono Layoffs 2020: MSP Trims Staff Amid For Sale Rumors
The layoff report surfaces amid rumors that Ensono may be up for sale.
Private equity firms Charlesbank Capital and M/C Partners acquired Ensono — the former Axciom IT business — in May 2015 for $190 million in cash. The MSP re-emerged as Ensono, backed by a new management team, in January 2016.
Fast forward to present day. Ensono may be worth roughly $2 billion thanks to organic growth coupled with multiple M&A deals. The company’s MSP expertise now spans public clouds (Amazon Web Services and Microsoft Azure), mainframes and hybrid IT services. Total annual revenues were roughly $600 million in 2019, the Register says — though profit figures and EBITDA margins were not disclosed.
The layoffs involve roughly 6 percent of Ensono’s workforce — and the cuts target jobs in the United States and Britain, the report said.