ConvergeOne Buys MSP, Cisco Gold Partner SIGMAnet
If this was an M&A newspaper, we’d be running out of ink. The fifth acquisition of the week involving a managed or cloud services provider (MSP or CSP) unfolded today. The deal involves ConvergeOne buying SIGMAnet, a Cisco Gold Certified Partner and MSP.
ConvergeOne has more than 4,800 customers, including 42 percent of the Fortune 100 and 35 percent of the Fortune 500 customers across the healthcare, finance, manufacturing, education, and energy industries, the company says. Clearlake Capital Group, a private equity firm, has owned ConvergedOne since June 2014.
ConvergeOne has acquired 11 companies since 20015, all of which “were integrated in a companywide unification completed in October 2015.”
SIGMAnet, meanwhile, has more than 250 employees across California. The company has “strategic partnerships” with Cisco, EMC, VMware, Dell, HP, IBM, Microsoft, and others, according to a prepared statement from both companies.
VARs, MSPs, CSPs Getting Acquired
This is the fifth M&A deal involving a VAR, MSP or CSP this week. (Here’s a recap of the other four deals.)
Additional VAR, MSP and CSP deals in recent weeks have included:
- Cloud data centers: Immedion acquired Appica
- New England IT services: Internet & Telephone acquired Jenaly
- Hybrid cloud: Presidio acquired Sequoia Worldwide
- Multiple Microsoft Dynamics VARs and IT consulting firms have been acquired in 2015.
- Private equity firms have been buying up IT service providers and VARs.
- And emerging cloud service providers have acquired MSPs for regional and technical reach.
To track buyouts as they happen, bookmark ChannelE2E’s M&A and funding coverage.