Fast-growing Vology, Inc. this week acquired VITAL Network Services, a Tampa, Florida-based network support provider representing many large, well-known brands.
"This investment immediately and substantially advances Vology's market position as an outsourced provider of IT infrastructure management services, and we intend to continue along this growth path, both organically and through incremental complementary acquisitions," Vology CEO and founder Barry Shevlin said. "With our customers' core needs in mind, this acquisition will allow us to scale Vology's…mission of delivering IT freedom in evolved and unprecedented ways."
As part of the deal, VITAL will be a wholly owned subsidiary of Vology.
Vology predicts enhanced capability via the resulting combination of resources, anticipating more than $215 million in revenue, and a workforce of more than 400 engineering, sales and operational professionals across the U.S, along with upgraded efficiency in IT solutions to achieve more seamless management for more than 100,000 devices.
"I am very pleased to see VITAL become part of Vology… one of the fastest growing and best places to work in the greater Tampa Bay area," VITAL CEO John Koehler said, adding that the acquisition would substantially widen VITAL’s existing customer base.
Vology anticipates adding more than 85 new positions in the near future as it gains traction. The firm financed the acquisition with growth capital provided by SunTrust Bank and Capitala Finance Corp. of Charlotte, North Carolina. Terms of the transaction were not disclosed.
"We will be acutely focused on combining the best solutions and capabilities from both companies to ensure we collectively provide our customers with an unparalleled experience," Steve Torres, Vology's Chief Operating Officer, said.
Vology designs, implements and manages infrastructures for a range of industries, aiming to eradicate confusion and barriers to technology goals via proficient engineering solutions. The firm’s corporate headquarters and distribution center are in Oldsmar, Florida.