MSP, Mergers and Acquisitions, Mergers and Acquisitions, Content

CompassMSP Acquires Another Florida-based MSP

CompassMSP has made its second acquisition of the year, buying Miami-based Dynamic Media Technologies, dba IT Support Miami (ITSM).

Founded in 2001, ITSM delivers IT solutions for SMBs in the South Florida market.

CompassMSP has been pursuing a growth strategy in the region. In early 2018 the company bought Florida-based MSP Redient, and in mid-2017 bought Miami’s Cubed Group and Jacksonville’s WorldwideIT.

Though the company doesn't disclose employee count information, CEO Tom Praschak told ChannelE2E that all employees of the acquired company will join CompassMSP.

Tom Praschak

Praschak said of the deal:

“In every market that we serve, we’re focused on building a leading presence to better serve our clients and to offer enterprise-quality, concierge-level services to satisfy all their IT and communication needs. We are delighted to welcome IT Support Miami to the CompassMSP family. The addition of ITSM expands our capabilities and coverage and enhances our position in the South Florida market."

Paul Roatta, CEO of ITSM, added:

“We are pleased to become part of the CompassMSP family. Not only will this allow us to better serve our clients, but it also offers our team a great opportunity to further develop their skills and provides added value to our clients. CompassMSP truly cares about clients and people as demonstrated by their focus during the process of working with them to bring the businesses together.”

CompassMSP’s Expansion Plans

Indeed, CompassMSP has been quietly expanding in various regions around the United States.

Earlier this year, the company purchased TS Tech Enterprises, an MSP that supports dental practices in the Wyomissing, Pennsylvania area. That deal represented CompassMSP’s first foray into the Northeastern United States.

Additionally, CompassMSP is pursuing a “targeted acquisition strategy” of strong vertical market MSPs in the SMB sector, according to Praschak. The company has yet to reveal how it is funding the acquisitions, nor has it disclosed whether the firm has private equity backing.