IT Services M&A: Magna5 Acquires US Assets of Apogee
Managed IT, cloud and cybersecurity services company Magna5, backed by NewSpring Holdings, has obtained the U.S. belongings of Apogee IT Companies, a managed IT and cybersecurity solutions provider. Economical terms of the offer had been not disclosed.
This is know-how M&A deal range 37 that ChannelE2E has protected so considerably in 2023. See more than 2,000 technological innovation M&A discounts involving MSPs, MSSPs & IT provider suppliers stated here.
Magna5 Acquires Apogee for Boston, Pittsburgh Expansion
Magna5, established in 2017, is based mostly in Pittsburgh, Pennsylvania. The organization has 154 personnel listed on LinkedIn. Magna5’s spots of knowledge consist of cloud, safety, managed solutions, cloud companies, cybersecurity, facts backup, catastrophe recovery, network checking, checking and administration, SD-WAN, managed detection and reaction, enable desk, vulnerability scans, managed IT products and services and managed support service provider.
Apogee, founded in 1990, is dependent in Sewickley, Pennsylvania. The business has 56 workforce detailed on LinkedIn. Apogee’s regions of skills contain IT safety, IT assist desk and information backup and restoration expert services.
This acquisition provides Magna5 further scale in the Pittsburgh and Boston marketplaces.
Robert Farina, CEO, Magna5
Robert Farina, CEO of Magna5, commented on the information:
“The demand for managed IT companies proceeds to increase promptly and introducing Apogee’s competent team will enhance our mixed services shipping and delivery knowledge for shoppers in two of our core regions. We’re thrilled to welcome Apogee’s US prospects and seem forward to functioning with them to supply an even much more robust set of choices as their trustworthy, outsourced IT solutions companion.”
Paul Cronin, CEO of Apogee, included:
“We had been right away drawn to Magna5’s mission to offer a holistic, client-centric approach and complex methodology to managed IT solutions. Our shoppers will immensely reward by this acquisition by gaining immediate accessibility to Magna5’s bigger, much more comprehensive platform and greatest-of-breed managed IT alternative sets which includes network cybersecurity instruments, backup and disaster restoration routine maintenance and IT checking.”
Magna5’s Acquisitions and Expansion
Magna5’s revenue extra than doubled in 2022 from the earlier calendar year and organic income grew above 30%. Magna5 was named by MSSP Alert as a leading 250 MSSP.
In all, this is the fifth managed solutions acquisition for Magna5 and the third in excess of the earlier calendar year. Past discounts integrated:
- September 2022: Interphase Programs, a Philadelphia-based cybersecurity, information security, economic expert services and everyday living sciences managed companies supplier.
- May well 2022: StableNet, a North Carolina-based mostly managed IT company supplier.
- March 2022: TCG Network Companies (TCG), a Boston, Massachusetts-based managed IT and cybersecurity solutions service provider.
- May 2021: New York-centered SpinnerTech.
- November 2017: NetServe365, a Pittsburgh, Pennsylvania-primarily based managed providers company
In November 2021, Magna5 sold its telco business enterprise to Global Telecom (ITL) to focus on pure-enjoy MSP routines and managed services acquisitions.
