MSP software provider ConnectWise, backed by private equity firm Thoma Bravo, has acquired payment and invoicing automation software provider Wise-Sync. Financial terms of the deal were not disclosed.
This is technology M&A 769 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Wise-Sync is based in Melbourne, Australia. The company, founded in 2013, has 26 employees listed on LinkedIn.
This is ConnectWise's second tuck-in acquisition of the past year. Earlier, the company acquired SmileBack, a customer satisfaction measurement tool, in late 2021.
ConnectWise Buys Wise-Sync: MSP Business Automation Details
ConnectWise and Wise-Sync have a longstanding business partnership, and the Wise-Sync software platform has been popular with IT Nation partners since even before ConnectWise acquired HTG Peer Groups in 2018. "Hundreds" of MSPs run Wise-Sync, though we don't know specific partner adoption or revenue numbers.
Wise-Sync integrates with ConnectWise Manage, a professional services automation (PSA) software platform. Looking ahead, a ConnectWise Sell integration will allow MSPs to automate payment collection when their customer approves a sales proposal and associated quote for the deal. The acquired software also remains available for purchase as a standalone product via the ConnectWise Marketplace.
Additional Wise-Sync third-party acquisitions include Xero, QuickBooks and Autotask -- the PSA platform from Datto (now owned by Kaseya).
In a lengthy LinkedIn update, Wise-Sync Paul MacNeill further explained the M&A deal and thanked business associates and his family for making the journey possible. MacNeill now shifts to GM of payments at ConnectWise.
ConnectWise Acquires Wise-Sync: Executive Perspectives
In a prepared statement about the deal, Chris Timms, executive VP of growth, ConnectWise, said:
“Wise-Sync provides payment and accounting software integration for MSPs and has a track record for receiving excellent partner feedback. The long-time relationship with Wise-Sync as a trusted integration to ConnectWise APIs makes them a natural choice for onboarding more formally into the ConnectWise family. We are eager to take our first step into the payments processing space – ConnectWise products to date have not had this functionality. Expanding this part of our portfolio is an exciting move for us and our partners.”
Added MacNeill:
“As part of ConnectWise, Wise-Sync will be able to leverage ConnectWise’s expertise to further improve our unique ability to bring payment automation experiences to MSPs globally. Expanding MSPs’ ability to build greater financial efficiency in their business is our top priority. ConnectWise opens doors for us to do so at scale.”
MSP Software Market: ConnectWise and Rivals
ConnectWise, based in Tampa, Florida, now has more than 2,500 employees listed on LinkedIn. Key rivals in the MSP software market include Barracuda MSP, Kaseya (the new owner of Datto), N-able and NinjaOne, along with upstarts such as Atera, Syncro MSP and SuperOps.ai, among others.
