Australia-based MSP and IT solutions provider Brennan IT has acquired Microsoft Business Applications consultancy Clade Solutions as it seeks to grow beyond $120 million in revenue in 2022. Financial terms of the deal were not disclosed.
This is technology M&A deal number 105 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
Brennan Acquires Clade Solutions: MSP Business Backgrounds
Clade Solutions is an Australian-based tech consultancy with more than 60 employees. The company is headquartered in Sydney, and has recently expanded into Brisbane, Melbourne and Darwin, according to the seller. Clade will be managed as a separate business within Brennan, with Clade CEO Duncan Journee continuing to lead that business unit.
According to a Brennan company timeline and website information, the company was founded in 1997. Key milestones since that time include:
- 2005: Acquired iExec;
- 2010: achieved $50 million in revenue;
- 2017: achieved $100 million in revenue; and
- 2021: achieved $120 million revenue.
This is Brennan’s second acquisition in recent months. The other involved after the acquisition of IT and communications service provider Forsythes Technology in August 2021.
Brennan Acquires Clade: Executive Insights
Brennan’s Managing Director Dave Stevens commented on the news:
“The acquisition of Clade will have a positive impact on Brennan as we continue to set high growth targets for FY22, it’s important for us to integrate with other organizations that have likeminded strategic growth goals in place, and to further expand our solutions as they help to benefit our customers.”
Duncan Journee, CEO of Clade Solutions, added:
“We have had a strong relationship with Brennan for years, so this feels like a natural evolution. Since becoming Strategic Partners two years ago, we have worked even more closely with the Brennan team to serve their customers. What’s most exciting for us, is that we can further leverage Brennan’s industry expertise, collaborate with their employees, and access their innovative tools and systems to further grow as a business and to ensure that we continuously provide a premium service to our customers.”