MSP M&A: Integris Acquires CalTech for Banking Expansion
IT managed service provider (MSP) Integris has acquired CalTech, a community banking-focused IT MSP with offices in Texas and Kansas. Financial terms of the deal were not disclosed.
This is technology M&A deal number two that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Integris, founded in 2021, is based in Cranbury Township, New Jersey. The company has 453 employees listed on LinkedIn. Integris’ areas of expertise include strategic IT consulting services, hardware and software management, networking, a 24/7 service desk, on-site troubleshooting/installations, cybersecurity monitoring, backup solutions.
CalTech, founded in 1988, is based in San Angelo, Texas. The company has 217 employees listed on LinkedIn. CalTech’s areas of expertise include community bank information technology services, bank productivity solutions, IT services and support, disaster recovery solutions, cloud computing solutions, business continuity solutions, IT security, private data center, network administration, network security, cybersecurity, CyberDefense and EverSpace.
With the acquisition of CalTech, Integris now has more than 20 offices in 10 states with nearly 700 employees, all offering high-end enterprise IT services and round-the-clock security monitoring, the company said. Integris will expand CalTech’s well-established IT service delivery model for the community banking industry across the country, the companies said.
Integris Acquires CalTech: Executive Perspectives
Rashaad Bajwa, CEO of Integris, commented on the news:
“The timing for this merger could not be better. Managed IT services are getting more complex and CalTech’s reputation in the community banking space allows Integris to build on and expand best in class operations to build a national community banking practice.”
Will Welch, CEO of CalTech, added:
“We are excited about this merger for many reasons but the first being the alignment of values and reputation. With Integris, we will build a national community banking practice with top quality service, security, and premium offerings for new and existing clients.”
Integris was formed in October 2021 through the merger of Domain, Compudyne, MyITpros and ProviDyn.
This marks Integris’ third acquisition in less than six months. In October 2022, Integris acquired Blue Jean Networks and Security7. In January 2022, Integris acquired Iconic IT. Integris, backed by private equity firm Frontenac, continues to look for additional acquisition opportunities to further its growth strategy.