Digital Transformation M&A: The Acacia Group Acquires Atlassian Partner Isos Technology
Private equity firm The Acacia Group has acquired Atlassian Platinum and Enterprise Solutions Partner Isos Technology. Financial terms of the deal were not disclosed.
This is technology M&A deal number 1,037 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Atlassian Acquisition: The Acacia Group Acquires Isos Technology
The Acacia Group is based in Tysons, Virginia. The company has 15 employees listed on LinkedIn. The Acacia Group’s areas of expertise include advanced analytics, cloud computing, cybersecurity, national security, M&A, managed services, social investing, technology and services investing, innovation, research and development and digital transformation.
Isos Technology, founded in 2005, is based in Tempe, Arizona. The company has 90 employees listed on LinkedIn. Isos’ areas of expertise include software solutions, mobile solutions, Atlassian experts, development process consulting and Jira. Isos was named Atlassian Partner of the Year in the enterprise category in 2019 and in the ITSM category in 2020.
The deal fits into Acacia’s strategy to build businesses that can provide digital transformation services to government and commercial organizations. The acquisition of Isos furthers Acacia’s growth strategy in the Atlassian ecosystem, and the combined companies will better enable enterprise customers to accelerate their digital transformation initiatives, the companies said.
Isos will be combined with the Atlassian practice of MajorKey Technologies, another Acacia portfolio company that specializes in Atlassian solutions. MajorKey’s team of Atlassian specialists have deep experience in consulting, cloud migration and ITSM services for their customers. Like Isos, MajorKey’s team is a Platinum and Enterprise Solution Partner to Atlassian and was named Partner of the Year: ITSM Solutions in 2021.
The newly combined business under Isos forms one of the largest in the Atlassian partner ecosystem. Acacia said it plans to make further acquisitions from the Atlassian partner community.
Acacia Acquires Isos: Executive Perspectives
Craig Dawson, co-founder and partner at Acacia, commented on the news:
“The visionaries at Atlassian have created products and tools that are mission-critical to the digital transformation of businesses worldwide. By combining the outstanding Atlassian teams from Isos and MajorKey, we are creating a new powerhouse to deliver on the full potential of Atlassian tools for a new generation of customers while also building deeper, more effective relationships with current customers to drive more value from their Atlassian investment. We have been highly impressed by the quality and reputation of the people at Isos and are delighted that our valued colleagues from MajorKey’s Atlassian team will be part of another compelling growth story within the Acacia portfolio.”
Thad West, CEO of Isos, added:
“I’m thrilled to team up with Acacia and MajorKey to expand our service portfolio and strengthen our position in an already impressive Atlassian partner community. The complementary skill sets and talent that Isos and MajorKey bring to the table will create an even more impactful experience for our customers, who are — and always have been — our No. 1 priority. I’m also excited by the opportunities this creates for people from Isos and MajorKey as part of a dynamic and growing business with a culture centered on collaboration and innovation. We’re looking forward to a very bright future together.”
Acacia M&A Activity
The Acacia Group has made several strategic acquisitions in recent years, including acquiring Baer Group, an SAP, Oracle and Salesforce partner and TradeHelm, a nearshore software development, DevOps and technology managed services business.
Alantra acted as exclusive financial adviser to Isos on this transaction. Don Holbrook from Citizens M&A Advisory advised Acacia, and Triago acted as exclusive placement agent for Acacia.