Corsica Technologies, backed by private equity firm Inverness Graham, has acquired well-known managed IT service provider EDTS and its sister company EDTS Cyber . The three companies will merge into one entity, the firms said.
The deal unites EDTS’ Southeastern clientele with Corsica’s mid-Atlantic operations. The new entity’s territory will span much of the U.S. East Coast, from Savannah, Georgia up to New York City. The two companies have a combined 20,000 systems under contract and 130 employees.
Corsica was acquired by Inverness Graham in November 2018. Corsica CEO Dale Walls becomes CEO of the combined companies. EDTS and EDTS Cyber founder and CEO Charles Johnson will now concentrate on growing the EDTS Cyber business as senior vice president of security.
EDTS launched EDTS Cyber in May 2017. The dedicated business unit was primarily focused on offering network threat analysis and remediation, cybersecurity monitoring, and cyber incident response.
Corsica and EDTS: Executive Perspectives
Describing this latest deal, Johnson said:
“EDTS’s focus on being that true partner and advisor for our clients means always looking for ways to improve our service delivery and our offerings. This merger with Corsica brings us some things that we need to grow and scale at EDTS and brings things to Corsica that were specific needs for them. These combined companies, with similar models and commitments to excellence, will truly make us better together. In the past few years, I have spent considerable time on our fast-growing security practice. There is significant investment in cybersecurity, at the national, state, and local level, in our community and our clients need someone they can trust to help guide them through their approach to security. With this merger, I’ll be focused on leading the security practice and helping our clients navigate the ever-changing security landscape.”
“When I first met Charles, I was stunned at the similarities in our company stories. We have both built companies through hard work, a focus on customer service, and a focus on the local markets where we live. I was looking to build a security practice and Charles had already built an award-winning practice group in EDTS Cyber. Charles was looking for executive talent to grow and scale and I had just brought on two industry veterans with experience at some of the largest MSPs in the world. The fit between the companies made perfect sense, and I couldn’t be more excited about what is ahead for us.”
MSSP & Cybersecurity Consulting Acquisitions
MSSP and MSP cybersecurity acquisitions have been a hot ticket in recent months. MSSP Alert, our sister site, has covered 15 such deals in the past year or so. At least four factors factors are driving the M&A activity among MSPs, MSSPs & cybersecurity consultants, MSSP Alert believes.
- Talent: The cyber skills shortage is driving MSSPs to find talent through M&A.
- Threats: The growing, shifting threat landscape is inspiring M&A deals to close technology and expertise gaps.
- Speed to Market: Acquiring companies can often be a faster path into a new or evolving technology market or business region.
- Scale: Smaller MSSPs are merging to counter the scale of larger rivals.
Additional insights from Joe Panettieri.