This is technology M&A deal number 36 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
VC3 Acquires Minnesota MSP CW Technology
CW Technology, founded in 1982, is a solutions provider offering managed IT, cloud hosting, cybersecurity and disaster recovery planning to SMBs across Minnesota, according to the company's website. CW specializes in process-based services, which include full IT support and help desk, business strategy and planning and IT alignment. The company has offices in Duluth, the twin cities area and Grand Rapids, Minnesota.
VC3 is a Columbia, South Carolina-based managed services provider with a focus on municipal government and mid-market businesses. Founded in 1994, the MSP provides cybersecurity, cloud services, website design, custom application development and business intelligence services, according to the company.
The acquisition of CW Technology expands VC3's solution portfolio to municipal and commercial clients in the Minnesota region and adds a local presence of high-caliber operators to the VC3 platform, the buyer said.
VC3 Acquires CW Technology: Executive Perspectives
Sandy Reeser, VC3’s CEO, commented on the news:
"Similar to CW Technology, we made the decision to serve small and medium sized organizations with solution-oriented technology services that will meet their specific requirements. Collectively, our teams have the depth and breadth of knowledge in managed services, applications, software development, websites, and industries to help meet a variety of business and local government needs. Our clients recognize our ability to solve a wide range of challenges, offer multiple options to solve problems, and communicate results effectively. VC3 continues to strengthen its existing presence nationally, where we already serve many municipalities and organizations across the country and carry several state municipal leagues endorsements. With decades of experience, together as a team, we will continue to successfully serve clients of all sizes in Minnesota and throughout the United States."
David Manion, CW Technology’s CEO, added,
"With VC3’s strong presence and similar core values, it was clear to me that a partnership made the most sense for our employees, our clients, and the company as we continue to grow and evolve in this changing environment. This acquisition will empower both CW Technology and VC3 to provide more tailored services to more clients."
VC3's M&A Activity
VC3 is no stranger to acquisitions. In July 2020, the firm acquired Sophicity for an undisclosed amount. And in November 2019, VC3 acquired masterIT, a Memphis, Tennessee-based managed IT service provider.