This is M&A deal number 191 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
StorExcel of Denver, Colorado, is a systems integrator that serves the U.S. Rocky Mountain region and the U.S. Federal Government. The deal will allow Chesapeake to expand its services in the media, entertainment, and government markets, the company asserts.
Chesapeake Systems Acquires StorExcel: Business Background
Chesapeake, founded in 1990 specializes in optimizing media workflows from creation to distribution and preservation.
StorExcel, founded in 2013, provides media asset management and storage platform integration for post production, broadcast, sports, churches, and the U.S. government.
StorExcel’s founder, Lance Hukill, transitions to VP of sales for Chesapeake. StorExcel’s team members in Colorado and Virginia will tuck into Chesapeake’s existing teams, located in Baltimore, New York, Los Angeles, and the DC-metro area, the firms announced.
Chesapeake Systems Acquires StorExcel: Executive Perspectives
In a prepared statement about the deal, Jason Paquin, CEO of Chesapeake Systems, said:
“Chesapeake Systems and StorExcel have substantial synergies that make this acquisition a win-win for both companies and, importantly, will drive value to our partners and customers. StorExcel brings a strong regional market presence to the fold at Chesapeake and builds on our services to the government sector.
This is an exciting growth step for Chesapeake Systems, especially as we navigate the new future for our customers who are pivoting to accommodate a forever-changed business environment.”
“This acquisition provides a huge opportunity for us to access new vertical and geographic markets, new products, and new offices while maintaining our core brand culture that our customers know and love.”