The US Assets of Apogee IT Services (“Apogee”), a managed IT and cybersecurity services provider, have been acquired by Magna5, a national supplier of managed IT, cybersecurity, and cloud-based services and a NewSpring Holdings platform business. Magna5 gains significant scale in the Pittsburgh and Boston areas as a result of this purchase, which further strengthens the company’s position as a leader in managed IT services, cybersecurity, data recovery, and cloud services for organizations that are expanding.
Robert Farina, CEO of Magna5, explains why the company decided to acquire Apogee: “The demand for managed IT services continues to expand fast, and integrating Apogee’s professional staff will strengthen our combined services delivery experience for clients in two of our major markets.” We are excited to have Apogee’s US clients join us, and we look forward to expanding our capabilities to meet their needs as their reliable outsourced IT services provider.
Apogee CEO Paul Cronin comments, “We were instantly intrigued to Magna5’s aim to bring a comprehensive, client-centric strategy and technical methodology to managed IT services.” As a result of the purchase, “our clients will greatly benefit from having immediate access to Magna5’s bigger, more comprehensive platform and best-of-breed managed IT solution sets,” the company said.
Magna5 has just finished a year in which it set a number of new records; this acquisition follows closely on its heels. The company’s revenue in 2022 more than quadrupled compared to the previous year, and organic sales growth was over 30%. Over the last year, the firm has also effectively merged operations from its three prior acquisitions—TCG Network Services, Stablenet, and Interphase Systems—in an effort to become the premier managed IT services partner for mid-market businesses. Both MSSP Alert and Enterprise World have included Magna5 in their lists of the top Microsoft Service Providers to watch.