Global managed cloud services provider Momentum will acquire MSP Asset Black for an undisclosed amount.
This is technology M&A deal number 206 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Momentum Acquires Asset Black
Momentum, founded in 2001, is based in Atlanta, Georgia. The company has 483 employees listed on LinkedIn. Momentum’s areas of expertise include Business Phone Systems, Hosted PBX, Unified Communications, Broadband Management, SIP Trunking, Mobility Applications, Contact Center, Virtual Fax, Collaboration , Business Voice, UCaaS, Mobility, CRM Integration, Cloud Voice, Conferencing, SD-WAN, managed network, Microsoft Teams, network, fiber, Analytics, Voice, international network, and network aggregation.
Asset Black, founded in 2005, is based in Savannah, Georgia. The company has 15 employees listed on LinkedIn. Asset Black’s areas of expertise include Internet and Data Applications, Voice Solutions, and Managed Services.
The strategic acquisition will expand Momentum's geographic reach and bolster its scale, according to the company. The deal will help grow Momentum’s managed network and enable entrance into new verticals including financial services, the company said.
Asset Black CEO Mark Weeks will join Momentum to lead financial vertical sales and support the companies' successful integration.
Momentum Acquires Asset Black: Executive Insight
Todd Zittrouer, CEO, Momentum, commented:
"We are delighted to announce the acquisition of Asset Black, representing another milestone in our growth strategy. The addition of the complementary Asset Black portfolio and team further solidifies our position as a leading provider of managed cloud and network services. This acquisition aligns with our mission to enable customers and partners to thrive through superior technology and premier customer service."
Mark Weeks, CEO, Asset Black, said:
"We couldn't be more excited to combine forces with Momentum. With Momentum's proven track record and commitment to excellence, we are confident that together we will deliver exceptional solutions to our customers and achieve remarkable success in the managed network space and beyond.”
The transaction is expected to close later this year, pending regulatory approval.
G2 Capital Advisors served as the exclusive buy-side advisor to Momentum on its acquisition of Asset Black.
