Private equity-owned ConvergeOne has made its second acquisition in a month, buying up communications technology solution provider Strategic Products and Services (SPS).
SPS is a global, multivendor communication and networking managed service provider (MSP) headquartered in New Jersey. The company is a Diamond Strategic certified Avaya partner and a Gold certified Cisco partner. That will should nicely with ConvergeOne’s existing Cisco and Avaya-focused collaboration and technology solutions. The company says the deal will help solidify its position in the market.
A month ago, ConvergeOne expanded its portfolio with the acquisition of Annese & Associates, an MSP and Cisco Gold Partner. In fact, the company has become known for its purchasing tendencies, having acquired 14 businesses since 2004. This latest news actually marks the third strategic procurement by the company. ConvergeOne also acquired Rockefeller Group Technology Solutions (RGTS), a Unified Communications as a Service provider.
Similarly to the Annese deal, Strategic Products and Services will now fly under the banner of SPS, a ConvergeOne Company. John F. Lyons, President and CEO, Enterprise, ConvergeOne will helm the new 800-person entity.
ConvergeOne is owned by private investment fund Clearlake Capital Group. The company boasts more than 7,000 customers, including 52 percent of the Fortune 100 and 40 percent of the Fortune 500 companies across a variety of industries. Along with Avaya and Cisco, the company also partners with Genesys, IBM, and Microsoft.
Consolidation is the buzz word in the MSP arena of late, with considerable M&A activity making waves. Some deals of note include:
