This is M&A deal Number 115 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
The deal includes all of V.NetSol’s staff and customer contracts, the firms said. The merged business will operate under the Connections for Business brand and serve over 100 small businesses and roughly 5,000 endpoints across South Florida. All of V.NetSol's staff will join Connections for Business' 16 employees, the company confirmed to ChannelE2E.
Founded in 1992 in the Miami Dade region, V.NetSol provides outsourced IT services and solutions geared toward productivity, communications, and daily operations. The company is partnered with Lenovo and Microsoft.
Connections for Business Acquires V.NetSol: Executive Perspectives
In a prepared statement, David Bennett, CEO of Connections for Business, said:
“V.NetSol offers an exciting opportunity for Connections for Business to strengthen and expand its service offering in the Miami Dade market. With a range of high profile clients, the acquisition of V.NetSol supports the Connections for Business strategy to lead the market & meet the future requirements for a single provider to manage our client’s tech."
George Milian, founder, and CEO of V.NetSol, added:
“Connections’ acquisition of V.NetSol provides a major growth opportunity for both our businesses through an extended service offering for our clients. As organizations begin their transition from a pay-as-you-go model to a true outsourced IT company, we will be best positioned to support them on their journey.”
Milian will join Connections for Business as Executive Vice President, the company said.
Looking forward, Connections for Business tells ChannelE2E that the company is rolling out new managed security offerings focused around enhanced email protection and DarkWeb monitoring.