Mergers and Acquisitions, Mergers and Acquisitions, MSP

MSP Acquired: Modern Managed IT Buys Vertical Technologies

Modern Managed IT has acquired Vertical Technologies, a managed IT services provider. Both MSPs are based in San Antonio, Texas. Financial terms of the deal were not disclosed.

This is technology M&A deal number 638 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.

Modern Managed IT, backed by $1 million in funding from Geekdom Fund, differentiates from rival MSPs in five ways. The differentiators include:

  1. No contracts of any kind;
  2. completely transparent fixed pricing for end-to-end services;
  3. non-franchise, full-time certified employees;
  4. unprecedented access including cell-phone numbers to dedicated customer teams; and
  5. the industry's strongest, money-back guarantee, the company asserts.

In a prepared statement about the deal, Modern Managed IT CEO Luis Rodriguez:

"As we approach the anniversary of our one-million-dollar venture funding round, this acquisition marks an important milestone in our growth plans. In our first year we've seen incredible direct demand for our services which has fueled amazing growth. Now we are adding the capability to grow via acquisition, giving owners and operators or IT providers an opportunity to transition their business knowing we will take great care of their customers and employees."

Added Mitch Dugart, senior account executive at Vertical Technologies, said:

"I'm thrilled to join the Modern Managed IT team where I'll have the opportunity to work with a highly skilled team who truly aims to delight customers with every interaction. I know our clients are excited about the news too."

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.