Harren Equity Partners has invested in Velosio, a cloud consulting firm focused on Microsoft Dynamics, Office 365, Azure and Oracle NetSuite business applications. Financial terms were not disclosed.
Velosio was created in 2018 when two Microsoft Dynamics partners -- SBS and Socius -- merged. The resulting company, with more than 300 employees, focuses heavily on enterprise resource planning (ERP), customer relationship management (CRM), productivity and business intelligence applications. The firm has more than 40 offices across the United States and Canada, and supports more than 4,000 customers.
Backed by Harren's funding, Velosio will continue its mission to be the leading Microsoft Dynamics Partner in North America. The consulting firm will also pursue potential acquisitions.
Harren Equity Partners Invests in Velosio: Executive Perspectives
In a prepared statement about the investment, Velosio Chairman Jim Bowman said:
“Velosio has energetic plans for 2019 to grow the business across our entire portfolio of solutions, practices, and channels. To ensure that we had the right financial partner to help us drive that growth, we undertook an exhaustive search last year to find a partner who not only had the financial resources but someone who also shared our vision of what Velosio can become. We have gotten to know the Harren team over the last several months and we are excited that the investment professionals at Harren share our enthusiasm of, and confidence in, the future of Velosio, and will provide us a capital structure to grow at an even faster pace.”
Added Harren Partner Lee Monahan:
“Through this financial investment, and working to execute strategic plans in partnership with Velosio leadership, Harren is excited about Velosio’s ability to accelerate their growth through new resources, acquisitions and business partnerships.”
Microsoft Dynamics Partners: Mergers, Acquisitions, Investments
Microsoft Dynamics partners, meanwhile, have engaged regularly in mergers, acquisitions and funding moves. Key examples include:
- January 2019: DXC Technology acquired the Microsoft Dynamics 365 technology services business of EG A/S. DXC has been buying Microsoft, ServiceNow & Salesforce partners.
- July 2018: Synoptek acquired Indusa, uniting a top 100 vertical market MSP and cloud services provider (CSP) with a key midmarket Microsoft Dynamics and Azure partner.
- July 2018: SHEA Solutions acquired TGO Consulting, a Microsoft Dynamics business partner. The combined companies have ERP, business intelligence, cloud and consulting services that extend across multiple countries.
- April 2018: KPMG acquired Microsoft Dynamics 365 cloud integrator and gold partner Adoxio Business Solutions. KPMG also acquired Egyde for cybersecurity services in recent days.
- July 2017: DXC’s buyout of Tribridge was the latest in a series of Microsoft Dynamics 365 partner acquisition. Other buyers include Columbus Global, RSM US, HCL Technologies & Sonata.
