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MSP Summit, Atlanta, 2024 -- Channel Partners Conference & Expo, in partnership with IT ExchangeNet, announced the 2024 “Dealmakers of the Year,” last month at the MSP Summit in Atlanta. The award recognizes the technology and IT channel industry’s most strategic mergers and acquisitions that accelerated company growth and innovation.
The awards encompass M&A transactions closed between July 2023 and July 2024. The awards were judged on four key criteria: strategic significance, financial impact, industry disruption, and deal execution and integration.
The Winners:
Most Significant Vendor Transaction: Cisco Systems' Acquisition of Splunk
Enterprise MSP: $100M+: Insight’s Acquisition of SADA
Mid-Market MSP: $51-$100M: Ntiva’s acquisition of The Purple Guys
Smaller Mid-Market: $5-$50M: BlueAlly’s acquisition of Strata Consulting
Most Significant Vendor Transaction
Cisco Systems' Acquisition of Splunk
This $28 billion deal, completed in March 2024, is one of the largest tech acquisitions of the year. It strengthens Cisco's position in the cybersecurity and observability markets.
Together, Cisco and Splunk helps move organizations from threat detection and response to threat prediction and prevention;
Combined, Cisco and Splunk becomes one of the world's largest software companies and accelerates Cisco's business transformation to more recurring revenue;
The transaction expects to be cash flow positive and gross margin accretive in first fiscal year post close, and non-GAAP EPS accretive in year two.
The deal unites two "Great Places to Work" with similar values, strong cultures, and talented teams
The combination of these two innovative leaders makes them well-positioned to lead in security and observability in the age of AI
Enterprise MSP: $100M+
Insight’s acquisition of SADA
This strategic acquisition strengthens Insight's position in the cloud solutions market and provides SADA with additional resources to expand its offerings. The value of Insight's acquisition of SADA was $410 million. This deal also includes an earnout potential of up to $390 million, bringing the total potential value of the transaction to $800 million.
The acquisition adds approximately 850 professionals dedicated to the Google Cloud ecosystem, increasing Insight’s overall team to more than 14,500 teammates across 26 countries to serve clients globally.
SADA is a Google Cloud Premier Partner with 10 Google Cloud Specializations, including security, infrastructure, cloud migration, data analytics, application development, location intelligence and machine learning.
Insight has a multibillion-dollar relationship with Microsoft and is the worldwide 2023 Microsoft Solution Assessments Partner of the Year and an Azure Expert Managed Service Provider. Insight has earned more than 65 Microsoft Partner of the Year awards and maintains 22 Microsoft specializations.
Insight is an AWS Advanced Tier Services partner with four competencies (Migration, Microsoft Workloads, DevOps, Security).
Mid-Market MSP: $51-$100M
Ntiva Acquires The Purple Guys
The combined company will have a significant nationwide footprint, covering critical markets across the U.S. with a laser focus on the SMB community, addressing the unique challenges they face and offering personalized, localized service throughout dozens of states and cities.
Click play to watch Steven Freidkin's acceptance speech
Focus on Client and Community Growth: Ntiva and TPG are deeply committed to empowering their clients’ growth and success by leveraging cutting-edge technologies, now a competitive necessity. By proactively advancing digital transformation and deploying innovative AI solutions, along with offering extensive vertical expertise, the newly combined entity will ensure that all clients are well-prepared to meet future demands and challenges, including advanced cyber security protection.
Cultural and Operational Alignment: The partnership is underpinned by a shared purpose of growing people and organizations, using technology as an accelerator. This cultural alignment is further reinforced by the continued leadership of Kevin Cook, CEO of TPG, who joins the board of Ntiva. Kevin and the entire TPG leadership team will also remain part of Ntiva, continuing to leverage their expertise and dedication to fuel growth, enrich the combined company culture, and drive innovation within the new unified organization. The newly combined company will continue to be led by Steven Freidkin, Ntiva’s Founder and CEO. Ntiva is a flagship company in the PSP Capital Partners portfolio.
Smaller Mid-Market: $5-$50M
BlueAlly acquired Strata Consulting in August 2023.
Strata Consulting, a premier consulting firm specializing in Security, Compliance, DevOps, and AWS Cloud services.
The strategic acquisition strengthens BlueAlly’s service offerings and positions the company for accelerated growth in the rapidly evolving technology landscape. BlueAlly will immediately leverage Strata Consulting’s in-depth expertise in Security, Compliance, DevOps, and AWS cloud services to enhance its portfolio and provide holistic solutions to businesses seeking to extract the total value from their IT infrastructure, cloud and digital operations.
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