This is M&A Deal Number 61 that ChannelE2E has covered in 2020. See the complete M&A deal list here.
Astreya, founded in 2001, has evolved from a VAR into a provider of managed (MSP) and professional services that involve IT logistics along with workplace, network, data center, and cloud services. The company had roughly 800+ employees as of 2018, supporting 250+remote customer locations at the time.
RelayiQ solutions put the "intelligence" back into business intelligence, the company says. For instance, the acquired company helps customers to deploy automation for Tableau and Salesforce business applications. The resulting system watches a customer's sales funnel, and notifies team members of significant changes or corrective measures -- such as a sales rep at risk of missing a quota, and potential course corrections to hit or exceed the quota.
The M&A deal reinforces Astreya’s strategy to expand beyond IT services. to solve the “last mile” analytics problem, bridging the divide between business intelligence solutions and business processes, the buyer asserts.
Astreya Acquires RelayiQ: Executive Perspectives
Describing the deal, Jay Preston, senior VP of global service delivery at Astreya, said:
“We see the disconnect between the massive investments that have been made in business intelligence and business processes in the field every day. We’re committed to solving this ‘last mile’ problem by investing in the technologies and solutions our customers need to successfully drive analytics adoption. With RelayiQ, our customers can quickly improve both data-driven decision making and data-driven activity to dramatically improve their company performance.”
Added RelayiQ CEO Brian Borack:
“Joining forces with Astreya enables us to move with the speed of a startup and the financial security of a much larger company. Astreya’s customers include some of the most innovative organizations in the world and we believe this is exactly where BI automation can have the greatest impact.”
Borack shifts to chief strategy officer at Astreya, where he now leads a new innovation division that includes a new software products organization, marketing, and consulting organizations.
Additional insights from Joe Panettieri.