Qusitive Technology Solutions has acquired Microsoft CRM and ERP software partner Mazik Global Inc. Financial terms of the deal were not disclosed.
This is technology M&A deal number 215 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Headquartered in Toronto, Quisitive is a Microsoft channel partner with Blockchain expertise.
The acquisition of Mazik is part of an overall M&A strategy to acquire Microsoft partners, which Mazik announced in 2018 as part of an M&A deal with Fusion Agiltech.
Qusitive Acquires Mazik: Business Background
Headquartered in Chicago, Illinois, Mazik provides Microsoft CRM, Cloud, and ERP solutions to the healthcare, education, and manufacturing industries.
Mazik also develops MazikCare -- a platform that was recently extended to help deliver mass COVID-19 vaccinations across the world. More than one million vaccinations have been administered via the platform so far, according to Quizitive.
Mazik's revenues were $10.4 million in 2020, and the company generated EBITDA of approximately $2.1 million -- or 20 percent margins (though the figures were not audited).
The addition of Mazik’s expertise and intellectual property will add to Quisitive’s cloud solutions portfolio and expand the company’s footprint in the United States, according to Quisitive. The deal also adds 50 employees and a hub in Chicago, the buyer said.
Quisitive Acquires Mazik: Executive Insight
In a prepared statement about the deal, Quisitive CEO Mike Reinhart said:
“The acquisition of Mazik Global provides Quisitive with an incremental set of software and application services that further strengthens our three-cloud solutions value proposition. Mazik possesses relevant and robust IP solutions within the healthcare and public sector that will strengthen our industry expertise and help us grow our recurring revenues. More specifically, its latest state-of-the-art ISV solution, VaccineFlow, has been instrumental in accelerating the delivery of vaccines to communities while assisting educational establishments with a seamless back-to-school process. This accretive acquisition adds significant value, as we are able to deepen our market share within the booming healthcare industry. We look forward to the integration of Mazik into the One Quisitive umbrella, as we further differentiate ourselves as one of the leading, premier Microsoft solutions providers in North America.”
