Companies Facing Substantial Increase in Ransomware Need MSP Expertise
ATLANTA, April 13, 2022 /PRNewswire-PRWeb/ -- Cogent Growth Partners (CGP), the leading buy-side intermediary for IT Services mergers and acquisitions, today announced that it assisted LeadingIT on its acquisition of Dura-Tech Enterprises. The two Managed Service Providers (MSPs) specialize in supporting the cybersecurity and IT needs of businesses throughout Chicagoland.
As hackers aggressively target more companies and organizations with increasingly expensive demands for ransomware, proactive cybersecurity continues to serve as the best protection for businesses. Unfortunately, companies' work-from-home programs have created a proliferation of access points to corporate data and systems. This increased vulnerability has been linked to a dramatic year-over-year increase in the number of ransomware attacks.
LeadingIT specializes in cybersecurity and managed IT support, while Dura-Tech focuses on providing cloud and advanced cybersecurity solutions.
"Adding an expert MSP such as Dura-Tech to our company expands LeadingIT's capacity to offer infinite support with the highest levels of customer satisfaction to businesses across Chicagoland," said Stephen Taylor, CEO, LeadingIT. "Dura-Tech's amazing team and culture helped make this decision an easy one. We plan to continue acquiring expert MSPs that share our core values and are a cultural fit with our organization."
A continued lack of skilled IT talent, a burgeoning need to secure IT infrastructures in the post-pandemic era, companies' low risk tolerance and increasing regulatory demands are fueling MSPs' interest in mergers and acquisitions, according to Channel Futures.
Both Dura-Tech and LeadingIT have been highly ranked on the MSP 501 List, a prestigious compilation of the world's best MSPs issued annually by Channel Futures.
"When two top MSPs come together, it's an exciting time for the companies and their employees, especially when they share a passion for cybersecurity and business protection," said Todd Creek, Founder and CEO of Dura-Tech. "As we integrate our two organizations, we look forward to leveraging our talent to bring enhanced data security, precise network monitoring and overall technology support to maket-leading businesses across Chicagoland."
This recent transaction is the second time LeadingIT's outsourced M&A partner, Cogent has assisted in their growth by acquisition efforts. Cogent also sourced and advised LeadingIT on the company's acquisition of CLASS Computing last year.
"Continuing to work with LeadingIT and Stephen Taylor through this second acquisition was gratifying for all of us at Cogent," said Bruce Teichman, Executive Vice President and Partner. "Our experience in closing more than 140 MSP transactions enables us to expertly execute these business-critical transactions for our clients, which minimizes acquisition-related distractions."
About LeadingIT
LeadingIT's mission is to PROTECT every Chicagoland organization from malicious cybersecurity threats and subpar nickel+dime IT support. More than 200+ Chicagoland organizations trust LeadingIT to provide 24/7, infinite, fast + friendly technology and cybersecurity support. They appreciate instant support via phone to solve their technology needs and they sleep well at night knowing they are protected. These organizations typically have 10-200 employees with industries ranging from government, nonprofits, manufacturers, schools, accounting, religious organizations, to law offices.
About Cogent Growth Partners
Cogent Growth Partners, LLC, the industry-leading M&A advisor for Managed IT Services providers with more than 140 closed transactions, taps into the growth opportunities found in America's IT businesses. Cogent accelerates the M&A process with a set of proprietary tools and processes that enable buyers and sellers to stay focused on running their respective businesses. Anyone who wants to know why Cogent is different, need look no further than the back of our business card: "Providing Transaction Therapy™ for IT Business Owners Since 2010." For more information, email [email protected], visit http://www.cogentmergers.com or call (678) 820-5288.
Media Contact
Malinda Lackey, Michael Mackenzie Communications, 4044451842, [email protected]
SOURCE Cogent Growth Partners
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