Kanata North-based IT firm Fully Managed was acquired by TELUS in a $137-million deal that closed last month.
Fully Managed — launched in 2006 and now boasting over 425 employees and Canada and the U.S. — uses cloud-based software and remote network monitoring technology to assist customers without requiring support workers to be physically on site. The firm has seen slow but steady growth over the pandemic, with revenues rising between 15 to 20 per cent in 2020, according to chief strategy officer Joel Abramson.
To accelerate this expansion, the company explored various “strategic growth alternatives,” according to CEO Mark Scott, eventually landing on an acquisition by Telus it hopes will help the organization in achieving its goal of becoming the #1 managed service provider (MSP) in North America.
“The managed services market has exploded over the past few years, particularly with the acceleration to a digital-first work world brought on by the pandemic” and the work-from-home model, said Scott.
“We believe as a modern MSP focused on enhanced customer experience, unparalleled expertise, and strong partnerships and platforms with innovators, we have the ability to continue to grow the business.”
He added that joining forces with Telus — a global enterprise that provides internet, wireless and other services as well as health-care software through its various subsidiaries and generates more than $14 billion in annual revenues — will give his firm access to “vast range of resources, world-leading products, networks and both leadership talent and technical expertise to better service our customers and lead in the digital decade ahead.”
Abramson said that the firm may also look towards more acquisitions in the future in order to continue its journey to becoming a leading IT player within North America.
“We’re always working on what the next phase of growth looks like,” he said. “This is a high-growth story, and we’ve got some pretty lofty goals.”