One of America’s fastest-growing IT Managed Services Providers (MSPs) just got bigger.
Synoptek LLC recently announced the $29M acquisition of EarthLink’s IT Services business, a move that brings over 1,700 SMB customers and 210 employees to the MSP — immediately doubling the company’s size to create the largest independent managed IT services company in the U.S. The deal increases Synoptek’s comprehensive portfolio of IT Managed Services for enterprise organizations and expands the firm’s presence across the eastern U.S. to complement its national data center infrastructure. EarthLink will continue its core business of managed and network services for data and voice, as well as carrier-grade transport solutions.
Historically a highly fragmented market segment, the MSP business has undergone a dramatic evolution over the past 10 years. As managing technology becomes more complex — including customers demanding more services, more stringent regulatory requirements and a more capital-intensive business model — the segment has experienced increasing pressures to consolidate. This transaction marks a milestone in that consolidation, creating one of the only independent national MSPs dedicated to delivering innovative IT and cloud services to its customers, which include healthcare / biotech / pharmaceutical, technology / software, financial services, non-profit, and energy companies.
In the past, a company that had multiple locations but was not a Fortune 2000 organization with a large IT budget struggled to find an MSP that could meet all of its needs in each of its locations. With its acquisition, Synoptek is able to break that mold. The company’s national footprint enables it to serve customers not only throughout the U.S., but also in Europe.
For more information about Synoptek and the acquisition of EarthLink’s IT Services business, visit www.synoptek.com.