This is M&A deal number 173 that ChannelE2E has covered so far in 2020. The pace of deals has slowed a bit since the coronavirus pandemic emerged, but overall M&A activity remains reasonable steady. See the complete M&A deal list here.
ICS, founded in 1986, has roughly 90 employees across Syracuse, Endicott, and Ithaca, New York. Brightworks has 16 employees who will join the ICS Ithaca office. The town is a well-known college hub, home to Ithaca College and Cornell University, and not far from SUNY Cortland.
Existing Brightworks clients will continue to work with the same IT professionals, though the acquired business will be rebranded under the ICS moniker.
ICS Acquires Brightworks: Executive Perspectives
In a prepared statement about the deal, Brightworks founder John Guttridge said:
“Due to the ever-changing information technology landscape and the growing cybersecurity needs, we wanted to find a partner that could support our customers with a higher level of maturity and serviceability than we could achieve in the near future."
Added ICS President and CEO Kevin Blake:
“We are thrilled to have the Brightworks staff join the ICS Family. ICS’ mission is to make a difference in our employees’ lives, our customers’ businesses, and in the communities we serve. It was clear that the Brightworks culture and core Values fit right in with ours. We are looking forward to expanding our services and making a difference in Tompkins County.”
So what's next? A prepared statement from ICS suggests that the MSP is exploring the market for additional acquisitions.
Disclosure: ICS CEO Kevin Blake and ChannelE2E Editor Joe Panettieri also are angel investors. Blake and Panettieri have explored potential investments together unrelated to ICS and ChannelE2E. The duo have no joint investments to disclose at this time.