Subscribe To Our Daily Enewsletter:

Ensono Layoffs 2020: MSP Trims Staff Amid For Sale Rumors

Ensono, the massive MSP (managed IT services provider) backed by private equity ownership, is laying off 137 employees but plans to hire more talent in India, according to The Register.

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.

Related: Track all technology industry layoffs here.

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.

Return Home

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *