MSP Acquired: Contegix Buys Admo.net Web Services
Contegix, a $50 million MSP and CSP, has acquired Admo.net Web Services, a Kansas City-based cloud and managed services provider that has two data centers. Contegix itself is the product of a recent merger with Distributed Systems Services (DSS).
Contegix specializes in managed application hosting, cloud, and managed IT infrastructure solutions. Adam Ward, founder and CEO of Admo, joins the Contegix products and solutions team. David Turner, CEO of Contegix, continues to lead the company. Financial terms for the Admo buyout were not disclosed.
Contegix operates N+1 data centers in St. Louis & Kansas City, Missouri; Reading, Pennsylvania; Dallas, Texas, and Amsterdam. The company had roughly $50 million in annualized revenues and 190 employees ahead of the Admo deal. Moving forward, Contegix now serves more than 700 customers, 60 of which were Admo accounts.
Contegix is backed by Strattam Capital. The private equity firm funded the DSS merger and now the Admo buyout.
MSP, VAR and CSP Buyouts
This has been a busy month for MSP-related buyouts. Roughly a dozen MSP and CSP mergers and acquisitions have surfaced since December 1, 2016. The deals potentially set the stage for so-called Metro-area MSPs that dominate their local regions. Valuation information is rarely disclosed, though ChannelE2E has tracked down this valuation info for MSPs and VARs.
More: Track all VAR, MSP and CSP mergers and acquisitions by visiting the ChannelE2E Milestones section daily.