CEO of Lyra Technology Group Discusses Expansion of Local Managed Service Provider Model, Artificial Intelligence, and Various Other Topics
In the dynamic world of Managed Service Providers (MSPs), Evergreen has been making waves with its strategic acquisitions. The company, known for its focus on trustworthy and high-integrity sellers, has recently expanded its portfolio with the addition of several top-tier MSPs.
The latest acquisitions include Equation Technologies, LAN Solutions Corp., Corporate Networks, and The ITeam. These acquisitions follow Evergreen's August purchase of Next7 IT, based in Pittsburgh, PA. With these acquisitions, 89% of the Lyra Technology Group's portfolio is now engaged in AI, either internally or externally with customers.
The Lyra Technology Group's strategy involves acquiring MSPs that are considered best-in-breed companies. Each provider in the Lyra Technology Group retains its branding, staff, and many of its processes, ensuring a seamless integration into the larger organisation.
This model offers a winning situation for both Lyra and the MSPs who sell to Evergreen. The MSPs unlock new opportunities to scale alongside a global portfolio, while Lyra gains market share and expands its reach. The M&A market remains active in the channel, with Evergreen being one of the key players.
Evergreen's M&A Advisor, Craig Fulton, discussed the ongoing wave of M&A in the channel. The company casts a wide net as it pursues new targets, including providers with specific technical capabilities and innovative go-to-market strategies.
Interestingly, September 2021 saw no acquisitions by the Lyra Technology Group; however, the company continues to pursue M&A deals at a fast rate. Since the beginning of the year, Evergreen has acquired 8 MSPs.
As the company adapts to the AI era, the next frontier for Lyra Technology Group lies in continuing this growth trajectory. Customer experience remains closely tied to why the Lyra Technology Group portfolio continues to operate with each brand, ensuring a focus on delivering quality service to its clients.
Evergreen is one of several players actively acquiring MSPs across the country and around the world. This strategic approach to growth has positioned Evergreen as a significant player in the MSP market, offering exciting opportunities for both the company and its partners.
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