Dynamic Quest has acquired Southern Data Solutions (SDS). The deal unites managed IT service providers (MSPs) in Greensboro, North Carolina and Atlanta, Georgia. Financial terms were not disclosed.
This is M&A deal 343 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Dynamic Quest, founded in 2000, has acquired five companies since aligning with private equity firm Spire Capital in Q2, 2018, the firms note.
Dynamic Quest offers hosted cloud services, disaster recovery, managed IT, service plans, application support, virtual CIO and security services.
SDS, founded in 2005, offers managed IT, disaster recovery and hosting services to businesses and enterprises. Approximately 75% of SDS's revenue is recurring . The SDS team members will join Dynamic Quest and continue to serve the Georgia market. Actual headcount figures were not disclosed.
Dynamic Quest Acquires SDS: Executive Perspectives
In a prepared statement about the deal, Javier Gomez, CEO of Dynamic Quest, said:
"Dynamic Quest continues to grow organically and is strategically acquiring businesses to add greater breadth to our services portfolio and geographic reach to better serve our clients and partners. The team at SDS has done a fantastic job building up a great company that provides its customers with dependable, critical IT services. This marks our second acquisition in Georgia in Q3 2020 and we are very excited to welcome the SDS team to the Dynamic Quest family."
Added Jeff Davis, president of SDS:
"We are thrilled to be joining Dynamic Quest and positioning ourselves to better serve our current customers by leveraging Dynamic Quest's infrastructure, broader solution set and scale. Our team and customers look forward to the significant benefits we'll soon be delivering."
M&A activity in the MSP market has re-accelerated in recent weeks after a brief slowdown during early Q2 2020 coronavirus lockdowns.
