TELUS acquired Fully Managed, a mid-market MSP that specializes in ServiceNow managed services as well as IT services for senior care organizations in the healthcare sector. The financial terms of the deal were not disclosed.
This is the technology M&A deal number 174 covered by ChannelE2E so far in 2022. Check out the more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
Fully Managed: MSP Business Background
Fully Managed had private equity backing, and also received $ 25 million in financing from Comerica Bank and BDC Capital in 2020. MSP focuses on three lines of business, which are:
- Digital Business: managed IT and security for small and medium sized businesses;
- Digital Enterprise: Elite ServiceNow practice for IT, customer, and employee workflow automation; at
- Digital Health: IT solutions for Senior Care communities.
In early 2021, Fully Managed had 415 employees and 3,000 customers across North America, the company said at the time. MSP is grown both organically and by extractions. Previous deals include getting:
Fully Managed has private equity backing, and also received $ 25 million in financing from Comerica Bank and BDC Capital in 2020. MSP continues to focus on three lines of business, which are:
- Digital Business: managed IT and security for small and medium sized businesses;
- Digital Enterprise: Elite ServiceNow practice for IT, customer, and employee workflow automation; at
- Digital Health: IT solutions for Senior Care communities.
Fully Managed CEO Mark Scott at Company Sale
Mark Scott, CEO, Fully Managed
In a blog about selling the company to TELUS, Fully Managed CEO Mark Scott wrote:
“I am pleased to announce that FM has been acquired by TELUS and is now part of the TELUS Business Solutions family, which is an exciting opportunity for FM to continue our vision of becoming the #1 Managed Service Provider (MSP) in North America and to give our customers the level of service and expertise they need and deserve.
The market of managed services has exploded over the past few years, especially with the acceleration in a digital-first world of work caused by the pandemic. We believe as a modern MSP committed to enhanced customer experience, unparalleled expertise, and strong partnerships and platforms with innovators such as ServiceNow, we have the ability to continue to grow the business.
Importantly, being part of TELUS gives us – and our valued customers – integrated access to a wide range of resources, world -leading products, networks and both the leadership talent and technical expertise to better service our customers and lead the digital decade into the future. Social purpose is at the heart of everything TELUS does and their customer first philosophy is the perfect cultural fit for our 425 FM team members! ”
Scott thanked the Fully Managed team, and promised to deliver “more exciting news from Fully Managed, powered by TELUS Business Solutions in the coming year.”
Fully Managed: MSP Experts Return to Business
Scott and many members of the Fully Managed team are veterans in the MSP industry. Scott was former CEO of N-able in the early days of the MSP-SMB software market. IT Glue founder Chris Day sold his MSP to Fully Managed and had a stake in the business. Chief Revenue Officer Marco La Vecchia previously held key positions at AVG and N-able. And Joel Abramson helped pioneer the Fully Managed business.