Managed IT support provider Xobee Networks has acquired Myers Network Solutions for $1.7 million. The deal closed earlier this year, according to the company.
This is technology M&A deal number 1,043 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Xobee Acquires Myers Network Solutions
Xobee Networks, founded in 1996, is based in California with numerous offices around the state. The company has eight employees listed on LinkedIn. Xobee’s areas of expertise include IT consulting, managed support, data protection, hosted exchange, cloud server hosting, email protection, VoIP phone service, forensic analysis, office in a box and web design and programming.
Myers Network Solutions, founded in 2002, is based in San Jose, California. The company has six employees listed on LinkedIn. Myers’ areas of expertise include managed IT services, backup and disaster planning for small and mid-size businesses, cloud computing, cybersecurity, telecommunications, web development and networking.
This acquisition enables Xobee to scale resources and products and grow its customer base, the company said.
The entire staff at Myers joined the Xobee Networks team, the companies said. Since the agreement between Xobee Networks and Myers Network Solutions earlier this year, Xobee has been able to increase revenue month over month with an 18% growth in host services offerings, the company said.
Eric Rawn, Xobee Networks founder and CEO, commented on the news:
“Through this investment, Xobee will embolden and scale our resources and services to clients within San Jose and across the state. We are investing in Myers Network Solutions because they are the marquee computer business solutions experts in San Jose, and we are well-positioned to help strengthen their team, resources, and products toward current and future clients.”
About Xobee Networks
Xobee Networks has thousands of clients throughout the state of California and as many as twelve offices spread throughout the state. The company was founded by Eric Rawn as a single-person consulting firm in 1996.
This is Xobee's third acquisition of the year; in November Xobee acquired Interconnect Networks and ZAPtech Solutions.
