VAR, MSP Mergers and Acquisitions Space Gains Momentum
San Diego-based solution provider The I.T. Pros is now a part of All Covered, the result of an acquisition. It was All Covered's fourth acquisition of this calendar year, and the Redwood City-based MSP plans several more this year. It's part of an MSP and VAR M&A market that is heating up as tight capital markets and a crippling recession have given many companies the urge to merge.
Doug Ford was never looking for any kind of exit strategy when he started up The I.T. Pros, a San Diego-based IT solution provider and MSP that has grown to a lean 21 employees and three profit centers in cloud computing, managed services and professional services.
Rather, Ford was looking to expand beyond the San Diego market to capture other opportunities around the country. But expansion wasn't in the cards when the Wall Street meltdown, credit crisis and recession hit. In 2009, after enjoying 100-plus year-over-year growth since he started the business, The I.T. Pros did not grow at that rate for the first time ever.
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