ServiceNow MSP Partner Merger: Private Equity Combines Virteva, Crossfuze
RLJ Equity Partners has acquired Virteva and merged it with Crossfuze. The combined MSP (managed IT service provider), called Crossfuze, has 100 ServiceNow consultants and developers, and 600 employees globally.
It’s the latest in a growing list of M&A deals involving ServiceNow partners in recent months. RLJ jumped into the market in October 2018 by acquiring Crossfuze.
In a prepared statement about this latest deal, RLJ Principal Nigel Howard said:
“We believe the Crossfuze and Virteva teams are a winning combination for customers. Combining the strengths of the two entities will advance our strategic vision and accelerate our growth. Both leadership teams have demonstrated their ability to deliver significant value to customers and partners while providing employees the ability to advance their careers by establishing a culture of innovation and collaboration.”
Added Crossfuze President and CEO Chris Howard:
“Crossfuze is delivering dynamic customer success in three continents. Virteva brings the right kind of people with a customer-first approach. For today’s hypercompetitive business landscape, a market leader must ensure that customers around the world are receiving the highest quality experience. By adding Virteva’s proven capabilities and deeply knowledgeable resources, we are taking the next step toward Crossfuze’s vision of superior customer experiences.”
Concluded Virteva CEO Tom Kieffer:
“Like Crossfuze, Virteva has been growing and sharpening its expertise to service the digital enterprise. Our company will be the preferred professional services partner for ServiceNow and Managed Services. The combination of the two companies brings tremendous opportunity for our customers and employees.”
Crossfuze, founded in 2000, has completed more than 1,200 implementations and has global reach, the company says. Virteva, meanwhile, has deployed over 600 projects. Both companies are well-known in the ServiceNow ecosystem.
ServiceNow Partners: Mergers and Acquisitions
M&A activity involving ServiceNow partners has been strong in recent months. ChannelE2E expects additional deals to surface before or during the ServiceNow Knowledge 2019 conference — set for May in Las Vegas.
Recent examples include:
- April 2019: In a move that may foreshadow future deals, Cask Technologies split into two businesses — one focused on ServiceNow consulting.
- April 2019: GrowthOps acquired ServiceNow partner Entrago for IT service management (ITSM) expansion across Australia and Asia-Pacific region.
- February 2019: Enterprise Vision Technologies acquired Zefflin Systems.
- January 2019: CDW acquired Scalar Decisions Inc.
- December 2018: Coreio acquired Tony Grice & Associates (TGA), a Canadian ServiceNow partner.
- December 2018: CareWorx and Fully Managed Technology merged. The deal united two well-known MSPs with expertise across the ServiceNow, Senior Care and cloud services markets — essentially creating a Top 100 Vertical Market MSP in the process.
- November 2018: DXC Technology bought TESM and BusinessNow, two ServiceNow providers.
- October 2018: Champion Solutions bought SystemiC, a consulting and development company.
- April 2017: Computacenter bought out Team Ultra.