Midwestern IT solution provider Ascend Technologies has merged with Salesforce partner Doextra CRM Solutions. Financial terms of the deal were not disclosed.
This is M&A deal number 32 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here. Moreover, M&A activity among Salesforce cloud consulting partners remains strong.
This deal was backed by private equity firm M/C Partners, which also oversaw the creation of Ascend in 2019 through the merger of West Monroe Partners’ Managed Services Division and Gratia Inc.
Doextra, founded in 1997, offers Salesforce solutions primarily to the insurance and finance industries. According to the company’s website, Doextra is “unhindered by location,” working remotely across the United States with hubs in Des Moines, Iowa; Washington, D.C.; and Kansas City, Missouri.
The merger of the two firms will extend and grow their respective strengths in Salesforce solution offerings, the newly-merged company said.
The combined organization will have over 195 U.S.-based professionals and offices in Chicago, Illinois and Lincoln, Nebraska.
Ascend Acquires Doextra: Executive Perspectives
In a prepared statement about the deal, Ascend CEO Wayne Kiphart said:
“Ascend continues to focus on enabling our clients' digital transformation and journey to the cloud. The merger with Doextra allows us to continue that mission by strongly positioning us with the ability to evaluate and enhance our clients’ business processes as well as implement and improve their existing or new Salesforce solutions. Ascend continues to differentiate its value with our ability to manage these solutions in an on-going capacity for our clients. We are excited to welcome Doextra’s entire team of experts to our Ascend family.”
Added Doextra CEO Brad Williams:
“At Doextra, we are proud of our 23-year history providing leading-edge CRM solutions to a wide variety of customers on a global basis. The opportunity to merge with Ascend Technologies gives Doextra the ability to grow our talent and expertise while offering a broader array of high-demand technology services to our prospects and customers. We could not be more excited about the chance to grow our Salesforce practice with Ascend Technologies and M/C Partners, a $2.2 billion private equity firm committed to our success.”
The transaction was facilitated by martinwolf, an M&A advisory firm focusing exclusively on the middle-market IT industry.
M/C Partners: Private Equity Investment Background
M/C partners has has extensive experience in owning and building MSPs. M/C Partners’ previous investments include Thrive Networks, Involta, Ensono, Fusepoint, Attenda, Denovo, Carbon60, and more.
M/C Partners has invested more than $2.2 billion in capital in more than 130 companies. The private equity firm typically targets companies with enterprise values of $25 million to $250 million.
