Mergers and Acquisitions, IT management, Mergers and Acquisitions, MSP, Content

MSP Acquired: masterIT Completes A Hero’s Journey

masterIT President Gary Wiseman
masterIT President Gary Wiseman
masterIT CEO Michael Drake

VC3 has acquired masterIT, a managed IT services provider (MSP) founded in Memphis, Tennessee. The deal allows VC3 to expand from Columbia, South Carolina, into Memphis and Mid-South markets. Financial terms of the deal were not disclosed.

masterIT, founded in 2006, helped to pioneer a “measure everything” approach in the MSP sector. Long before most rivals, CEO Michael Drake and President/CTO Gary Wiseman tracked all of their company's business and financial metrics — and then pursued automation strategies to improve on those metrics.

Read between the lines, and masterIT was ahead of the curve on the current business analytics, business intelligence and big data waves that have since spilled over into the IT channel.

A Hero's Journey Explained

The bigger story here involves a so-called Hero's Journey -- which typically involves an everyday person who embarks on an adventure, and in a decisive crisis wins a victory, and then comes home changed or transformed.

During a phone conversation between Drake and ChannelE2E Co-Founder Joe Panettieri around 2015, Drake explained how you can embark on a Hero's Journey both in business and in life. At the time, Drake realized that his mission involves mentoring today’s youth and the next generation of IT leaders.

Fast forward to present day. Drake has completed his journey at masterIT, while Wiseman will continue forward and lead the Memphis office.

VC3 Acquires masterIT: Executive Perspectives

Describing the masterIT acquisition, VC3 CEO Sandy Reeser said:

“masterIT is a great company and I’m very excited that we can combine with a team that shares our core values, dedication to excellent client service, and commitment to rich company culture. This acquisition is a great step forward. In addition to excellent managed IT services, we’re excited to offer new capabilities in cloud, security, voice, and application development to organizations across Tennessee and the Mid-South.”

Added Drake:

"This was a carefully considered decision. As the founder of masterIT, I care deeply that our clients and team remain in good hands. When considering options, VC3 became a natural fit because of the respect I have for Sandy and his team.”

Additional insights from Joe Panettieri.