Integris, backed by Chicago-based private equity firm Frontenac, has acquired Iconic IT. The merger will make the combined company one of the largest SMB-focused MSPs in the U.S., according to a statement from Iconic IT. Financial terms of the transaction were not disclosed.
This is technology M&A deal number 116 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
Integris Acquires Iconic IT
Iconic IT is an MSP providing small and medium organizations with IT support services, fully managed or co-managed IT support, cybersecurity and cloud solutions, strategic guidance and customer service. Iconic IT was formed from the merger of four other IT service providers in 2019, as ChannelE2E reported. The firm serves Dallas, Fort Worth and East Texas, Wichita, Kansas, Buffalo and Rochester, New York, Bonita Springs, Florida and Denver, Colorado.
Integris was formed in October 2021 through the merger of Domain, Compudyne, MyITpros and ProviDyn. The addition of Iconic IT will give the combined company a stronger national platform to serve clients across the U.S., according to the company. The firm will operate under the Integris umbrella.
With the completion of this merger, the Integris network will have offices in 10 states: New Jersey, New York, Maryland, Minnesota, Michigan, Colorado, Kansas, Florida, Georgia and Texas and increase headcount to more than 440 employees. The combined firm will be led by Rashaad Bajwa as CEO, Mike Fowler, former Iconic IT CEO as COO, John Marinac as CTO, Bill McCharen as CPO, Joseph O'Hara as CFO and Jason Erickson as CSO.
Integris Acquires Iconic IT: Executive Insight
Mike Fowler, formerly CEO of Iconic IT and now COO, Integris, commented on the acquisition:
"Iconic IT was an early leader of the consolidation trend in 2019, when Capstone IT, Live Consulting, Choose Networks, and Networking Results merged to form Iconic IT. Now, we've merged our combined company with Integris. It was the logical next step and allows the network we've built to be part of an expanded footprint as a national, premium managed services provider."
Rashaad Bajwa, CEO of Integris, added:
"Iconic IT paved the road for the path that Integris is on now. They were one of the first to bring together best-in-class MSPs from across the country to build a stronger platform for clients and staff. Bringing Iconic IT and Integris together is a continuation of their "Better Together" thesis and accelerates our shared journey forward in building the first national premium MSP platform."