Ergo, a Top 250 Public Cloud MSP focused on Microsoft Azure, is acquiring Amazon Web Services (AWS) partner Asystec for €25 million ($28.3 million). The combined company is expected to employ more than 500 IT professionals across Ireland, the United Kingdom and North America.This is technology M&A deal number 45 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.Added Les Byrne, managing director at Asystec:
Ergo Acquires Asystec: Cloud MSP Business Details
Ergo has Microsoft Azure and Hewlett Packard Enterprise (HPE) expertise. Asystec specializes in Amazon Web Services (AWS) , Dell Technologies, EMC storage and VMware software expertise.Ergo, armed with Asystec, expects to generate €150 million ($170 million) in annual revenue this year. From there, revenues will grow to roughly €250 million ($283 million) over the next 3 to 5 years, with the number of IT professionals rising towards 1,000, the buyer asserted. Ergo did not say whether the growth will be organic or via continued M&A -- or a mix of both. Also, profit targets were not disclosed.This is Ergo's fourth acquisition since 2010. Other purchases include CDSoft, iSite and Micromail.Ergo Acquires Asystec: Executive Perspectives
In a prepared statement about the deal, Ergo CEO Paul McCann said:“This is a transformative deal for the Irish market, the coming together of complementary skills and services from two giants of the Irish IT sector. We welcome Asystec onboard, knowing that natural synergies in our customer-centric focus will make for a perfect cultural as well as technical fit.”
“We are hugely excited to be taking our business on the next stage of its journey, becoming part of Ergo at such a pivotal moment in the evolution of the IT services sector. Together we will be able to map and deliver future-proof IT strategies for fast-changing markets, creating new opportunities for our customers and our people.”
