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In wake of sale, software firm makes two acquisitions

Tampa-based ConnectWise has also formed a partnership with Webinfinity.


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  • | 9:48 a.m. November 1, 2019
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TAMPA — Business automation software firm ConnectWise has acquired Continuum and ITBoost and entered into a strategic partnership with Webinfinity.

The flurry of activity comes just over six months since ConnectWise founder Arnie Bellini sold the homegrown company to Thoma Bravo, a private equity firm, for $1.5 billion — a transaction that made millionaires of 70 ConnectWise employees.

In a press release, ConnectWise says the acquisitions of Boston-based Continuum and ITBoost, headquartered in Irving, Texas, will transform the company into a technology and services platform for the entire tech channel — from vendors and distributors to technology solution providers (TSPs) and their customers. Adding Webinfinity’s service to its ConnectWise Engage platform, meanwhile, will enhance ConnectWise’s ability to help TSPs access multiple vendors through a single screen, as opposed to the siloed approach that it says is more common, the release adds. 

“Over the last 15 years, ConnectWise has become the leading provider of technology solutions and services to managed service providers,” ConnectWise CEO Jason Magee states in the release. “Now, by executing on these deals, we will be able to expand our scope and capabilities to assist the broader community of TSPs in all facets of their business. This is a revolutionary play, making ConnectWise the epicenter for everything from business management and documentation to service delivery and operations management, while also making it much easier and more efficient for partners to work with the technology suppliers they have in their stacks.”

Financial terms of the acquisitions were not disclosed.

Privately held ConnectWise reported gross annual revenue of $46.2 million in 2013, the last year for which data was available. In 2014, on the back of 76% growth, it ranked No. 3,956 on the Inc. 5000 list of the country’s fastest-growing private companies.

 

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