Viatel Technology Group has acquired SupportIT, a managed IT services provider (MSP) based in Dublin, Ireland. The deal is expected to lift Viatel’s annual revenues to roughly €70 million (US$71 million). Financial terms of the acquisition deal were not disclosed.
This is technology M&A deal number 614 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Viatel: Ireland’s Leading Managed IT Service Provider?
SupportIT, founded by Joe McGivern in 2004, has 18 employees listed on LinkedIn. The company specializes in the design, implementation and maintenance of IT services. SupportIT’s clientele spans more than 200 businesses and organizations.
Viatel Technology Group, founded in 1991, has 305 employees listed on LinkedIn. The company positions itself as Ireland’s leading independent provider of solutions for Connectivity, Cloud & Security Requirements.
SupportIT is Viatel’s second MSP acquisition of 2022, and seventh in the past two years. The other recent deal involved buying Microsoft partner ActionPoint in January 2022.
MSP M&A: Executive Perspectives
In a prepared statement about the SupportIT acquisition, Viatel CEO Paul Rellis said:
“We are delighted to announce this acquisition, which shows the continued belief we have in our ActionPoint team and business, and points to a bigger growth opportunity for us al.”
Added David Jeffreys, CEO of ActionPoint:
“We are delighted to be teaming up with supportIT. Joe and the team have built a reputation for excellent customer service and technical expertise over the last 18 years, and we are bringing ActionPoint’s capability to supportIT’s service offering, while simultaneously expanding our footprint in Dublin”, Mr Jeffreys added.
Noted Joe McGivern, SupportIT’s managing director:
“We are delighted to be partnering with ActionPoint and the Viatel Technology Group in the next chapter of our journey and bolstering our service offering with Digital Transformation and Software Development expertise.
“This is a very exciting day in the history of our company. From the beginning, supportIT has been focused on helping businesses get more from their IT by providing simplified effective solutions, with a hard focus on superior customer experience.
Venture Legal Services acted as counsel for Viatel in the acquisition.
MSP and Technology Services M&A: Strong Dublin, Ireland Activity
Meanwhile, M&A activity in Dublin, Ireland remains strong. Local buyers and investors so far for 2022 include Accenture, Aptiv, CWSI, Ergo and Velosio, according to ChannelE2E’s reporting.