MSP Acquisition: VC3 Buys Canadian IT Firm CompuVision
This is technology M&A deal number 121 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
The two companies in this deal have a longstanding relationship, and the merger will create an IT management and cybersecurity services provider for all of North America.
The deal allows for expanded operations across the Canada-U.S. border, a wider array of professional services and deeper technical expertise to clients in both countries—creating a stronger team serving as one organization, the firms said.
The companies will continue to operate under their respective names during an integration period before combining operations under the VC3 brand. VC3 CEO Sandy Reeser will remain CEO, while CompuVision CEO Ryan Vestby and president David Bridges will shift to chief growth officer and president, respectively.
VC3 Acquires CompuVision: “A Deep Focus On Data Security”
Sandy Reeser, VC3’s CEO, commented:
“Over the past 30 years, CompuVision has been dedicated to putting their clients first. We both share a passion for creating solutions that allow our clients to focus on their organizations rather than IT. This combination of two like-minded companies broadens VC3’s ability to offer world-class IT services with a deep focus on data security to all clients across all states in the U.S. as well as across Canada.”
Ryan Vestby, CEO, CompuVision, said:
“Our priority is supporting our clients in navigating the increasingly complex IT landscape so they can keep their focus on continued growth and success. As our clients grow, we must be able to keep pace with their needs, which requires complex tools and resources along with a team of experienced professionals. Each of our teams brings with it complementary specializations and expertise so that we can continue to lead the way. Everyone wins when the strengths of two companies come together.”
David Bridges, president, CompuVision, added:
“This partnership is a natural next step for us as we continue to grow and adapt to a more complex information technology landscape. We are excited and looking forward to plotting the course for the future, together as one business.”
VC3 is a Columbia, South Carolina-based managed services provider with a focus on municipal government and mid-market businesses. Founded in 1994, the MSP provides cybersecurity, cloud services, website design, custom application development and business intelligence services, according to the company.
The company is no stranger to acquisitions. In July 2020, the firm acquired Sophicity for an undisclosed amount. And in November 2019, VC3 acquired masterIT, a Memphis, Tennessee-based managed IT service provider. In January 2022, the company acquired CW Technology, a Minnesota-based IT management provider.