Managed network solutions provider Expereo, backed by private equity firm Vitruvian Partners, has acquired SD-WAN and SASE network security provider Breeze Networks. Financial terms of the MSP M&A deal were not disclosed.
This is technology M&A deal number 731 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Expereo Acquires Breeze Networks: SD-WAN Business Backgrounds
Breeze Networks, founded in 2016, is based in Reigate, England. The company has eight employees listed on LinkedIn. Key areas of expertise include SD-WAN, hosted voice, network security, SASE (secure access service edge), connectivity, intelligent WAN and WiFi services.
Expereo, based in Amsterdam, Holland, was founded in 2004. The company has 519 employees listed on LinkedIn. Expereo's expertise spans SD-WAN performance optimization; network business continuity; MPLS migration to SD-WAN; global Internet and overall WAN optimization services.
Under terms of the deal, Breeze Networks CTO Matthew Lea shifts to Expereo technical portfolio lead, reporting to Expereo CTO Kristaps Petrovskis. Lea will drive Expereo’s expansion plans for its SD-WAN/SASE practice, particularly in the UK.
MSP and SD-WAN M&A: Executive Perspectives
In a prepared statement about the deal, Expereo CEO Irwin Fouwels said:
“This acquisition comes at an exciting time, as we expand our SD-WAN services to address the growing need for agile, cost-effective cloud access and global network solutions in the market. With our shared vision to simplify global connectivity and provide world-class customer experience, the expertise of the team of professionals behind Breeze Networks will contribute great value as we join forces."
Added George Cowan, managing director of Breeze Networks:
“Having recently worked with Expereo on a global deployment for one of our customers, we witnessed first-hand the shared values of both companies and commitment to providing excellence in delivery and customer service. We are excited about joining the Expereo family and are certain that the global reach and scale of Expereo will be a benefit to all of our stakeholders."
Expereo has M&A experience. The company previously acquired Brodynt in July 2021, Videns IT Services in February 2022 and Globalinternet in October 2020. Private equity firm Vitruvian Partners acquired majority control of Expereo from Apax Partners in February 2021. Apax remains a minority investor in the global MSP.
SD-WAN M&A Activity, Market Growth Forecast
Demand for SD-WAN services is expected to remain strong. Indeed, the global SD-WAN market will reach $5.2 billion by 2028, up from $995 million in 2021. That's a 26.5% compound annual growth rate (CAGR) during the forecast period, according to Market Reports World.