IntegraONE has acquired Cisco Meraki partner Lightspeed Technologies. Financial terms were not disclosed.
This is IntegraONE’s fourth acquisition in the Pennsylvania region. Previous deals involved:
- Classing Networking in 2010;
- 7 Layer Solutions in 2012; and
- Quatro Systems last year.
The Lightspeed deal will enable IntegraONE to scale across the region, onboard new talent, and improve service efficiencies by moving closer to the firm's customers, the company says. We're checking to see which Lightspeed executives, if any, are joining IntegraOne as part of the deal.
Lightspeed has been a Cisco partner since 1998. The solutions provider offers networking solutions and communications infrastructure to customers in such markets as higher education, financials services, country government, media, records management, healthcare, transportation, insurance and grocery.
For its part, IntegraONE works with clients throughout Pennsylvania, New York, New Jersey, Delaware, Maryland, and West Virginia, providing network infrastructure, data center server and storage, security technologies, unified communications, managed services, IoT technologies, and technical repair services.
Cisco Partner Mergers, Acquisitions, Investments
M&A activity among Cisco partners appears to be accelerating. Recent deals include:
- Evolve IP acquired AiTech last week and Cardiff in April 2018
- EACS acquired Sentronex earlier this month
- Luminet attracted private equity funding from Foresight Group in April 2018
- Bulletproof Infotech acquired Concordis Solutions in April 2018
- CIO Solutions and TekTegrity merged in March 2018
Generally speaking, this feels like the strongest year ever for IT service provider M&A deals. We also suspect that valuations have largely pushed beyond the historic norm of 5X to 7X annual EBITDA for MSPs.
Additional insights from Joe Panettieri.
