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IT Service Provider M&A: Park Place Acquires CentricsIT Global Services Division

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Park Place Technologies has acquired the professional services and TPM assets of Atlanta-based IT services provider CentricsIT. Financial terms of the deal were not disclosed.

This is technology M&A deal number 1,014 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.

Park Place Acquires CentricsIT

Park Place, founded in 1991, is based in Mayfield Heights, Ohio. The company has 1,696 employees listed on LinkedIn. Park Place’s areas of expertise include maintenance and support services, hardware upgrades and installation, equipment relocation, hardware disposal, IT asset management, equipment performance assessments, managed services, professional services and network monitoring.

CentricsIT, founded in 2007, is based in Norcross, Georgia. The company has 164 employees listed on LinkedIn. CentricsIT’s areas of expertise include Cisco, EMC, HP, Sun, IBM, F5, Juniper, Dell, Oracle, Xsigo, Data Domain and Symantec products and remote on-demand engineering, third-party maintenance, IT asset disposition, Wi-Fi services, global IT supply chain management and managed logistics services.

The acquisition will grow the combined companies' professional services capabilities and expand its focus on customer experience, the companies said. CentricsIT’s EVP of global services, Patrick Keuller, will join the global professional services group.

Chris Adams, CEO, Park Place Technologies
Chris Adams, CEO, Park Place Technologies

Chris Adams, president and CEO of Park Place Technologies, said:

“When acquiring businesses, we always search for companies that are intensely focused on customer service and have a similar culture and value set to PPT. CentricsIT delivers that and more. Our combined Professional Services capabilities are evolving to meet client needs, and this will accelerate that CX agenda."

CentricsIT founder and CEO Derek Odegard added:

“We’re pleased to have found the right fit in Park Place Technologies for our services practice to grow and thrive. We know they will continue to excel in service delivery and client support.”

Park Place Technologies M&A Activity

This is Park Place's fourth acquisition of the year, not to mention their third consecutive acquisition in the greater Atlanta, Georgia region. In 2022, Park Place acquired data center maintenance company Riverstone, Reliant Technology, the Storfirst platform and the data center services business from Congruity360. You can see all of Park Place’s previous acquisitions here.