M&A List: Accounting Firms Acquire MSPs, MSSPs and IT Consulting Firms
Accounting firms continue to branch out from their traditional financial services, opting to offer additional technology consulting, risk mitigation, cybersecurity and managed IT services to their clientele.
Many of those accounting firms are diversifying into the IT services sector through M&A deals, as Forrester Research Principal Analyst Jay McBain and ChannelE2E have frequently pointed out.
Indeed, certified public accountants (CPAs) are seeking to add financial application, business automation and risk mitigation expertise to their roster of services. Moreover, accounting firms have increasingly pursued predictable monthly recurring revenue (MRR) that MSPs and cloud service providers deliver.
Accounting Firms and Technology Services: M&A List
ChannelE2E’s ever-growing list of M&A deals in the sector includes:
15. July 2020: MNP acquired Next Digital, further blending accounting and MSP services in Canada.
14. April 2020: Wipfli, a US accounting and consulting firm, acquired Microsoft Dynamics partner Tidestone Solutions.
12. January 2020: TJS Deemer Dana (TJSDD) acquired Vertisys of Atlanta.
9. June 2019: Accounting and consulting firm MNP acquired ERP (enterprise resource planning) software and IT consultancy firm Mantralogix.
8. January 2019: AcctTwo acquired Leap the Pond, uniting two Sage Intacct partners that offer managed accounting services, accounting software, and custom-developed applications.
7. October 2018: Richey May, a Denver, Colorado-based accounting and advisory firm, acquired two IT consulting firms – Arrow Partnership and Corporate Blue.
5. May 2018: RSM US LLP bought Explore Consulting.
4. May 2018: KPMG’s Canadian division acquired Adoxio Business Solutions, a Microsoft Dynamics 365 integrator and gold-level partner.
3. March 2018: Accounting and advisory services firm Rehmann merged with Trivalent Group, an MSP in Grandville, Michigan.
2. January 2018: Deloitte bought certain assets of ATADATA.
1. August 2017: Avitus Group (payroll, accounting, taxes & HR outsourcing) acquired Technical Edge Consulting for IT services.
Note: This blog, originally written in July 2019, is updated regularly to reflect the latest M&A deals in the accounting industry.