This is M&A deal number 22 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
FOCUS Investment Banking acted as exclusive financial advisor to Akuity Technologies on this deal. Also in 2020 FOCUS Investment Banking acted as exclusive financial advisor to ICS in connection with ClearLight’s investment in ICS.
ICS Acquires Akuity: Business Details
Akuity, founded in 1988, is based in Auburn, Massachusetts, and operates in five New England states. Akuity's staff -- spanning roughly 50 employees -- have transitioned to ICS. Moreover, Akuity Chief Operations Officer Brian Hanify shifts to regional president for ICS's New England territory.
ICS, with roughly 100 employees, is headquartered near Binghamton, New York, with offices in Syracuse, Endicott and Ithaca. Key vertical markets served include healthcare, financial services, professional services, manufacturing, retail, and other industries.
ICS, founded by 1986 and led by Kevin Blake, provides managed services, cybersecurity, cloud migration and other project-based services, and hardware and software reselling for small to medium-sized business (SMB) customers.
ICS Acquires Akuity: Executive Perspectives
In a prepared statement about the deal, Hanify said:
“After getting to know the team at ICS, it became clear that they were the perfect partner to bring expanded products and services to AKUITY clients. This will allow us to continue driving technology efficiency and security while lowering costs.
“We are thrilled to have the AKUITY Technologies staff join the ICS Family. ICS’ mission is to make a difference in our employees’ lives, our customers’ businesses, and the communities we serve. It was clear that the AKUITY Technologies culture and core values fit right in with ours. We are looking forward to growing our New England footprint thru future acquisitions.”
ICS: Private Equity Backing, Earlier Acquisitions
Disclosure: ICS CEO Kevin Blake and ChannelE2E Editor Joe Panettieri also are angel investors. Blake and Panettieri explore potential investments together unrelated to ICS and ChannelE2E.