Weeks after expanding its footprint in Western Canada by acquiring a Calgary firm, Ottawa IT enterprise Fully Managed is beefing up its presence in southern Ontario.
Fully Managed announced this week that it has closed a deal to buy Toronto-based Quartet Services. Financial terms of the transaction were not publicly released.
Founded more than two decades ago, Quartet provides IT planning, project management and network security services as well as hosted server infrastructure for medium-sized businesses. The company has more than 40 employees.
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“As a top-five managed IT provider in the Greater Toronto Area, Quartet gives us a stronger geographical presence in Canada’s largest business marketplace and deep expertise in security,” Fully Managed CEO Mark Scott said in a statement.
In addition to giving the firm a growing base of customers in the country’s biggest city, the deal will push Fully Managed past the $100-million mark in annual revenues as it continues to cement itself as a leader in the field of managed IT.
Launched in 2006, Fully Managed now has 415 employees in Canada and the U.S., 70 of them in its home base of Ottawa. The firm, which serves more than 3,000 customers across North America, also has offices in Calgary, Edmonton, the GTA, London, Ont., Summerside, P.E.I., and Vancouver.
Second acquisition of 2021
The company uses cloud-based software and remote network monitoring technology to assist customers without requiring support workers to be physically on site. Fully Managed also has a senior care division that produces touch-screen devices and mobile workstations, allowing health-care professionals to access patient records at their fingertips.
The Quartet acquisition is just the latest in a string of mergers and acquisitions for the company. It follows last month’s purchase of Calgary-based Wappo Information Services, which specializes in serving small and medium-sized businesses that use Microsoft’s Azure platform.
Formerly known as TUC, Fully Managed combined with senior care technology provider CareWorx in 2016. Three years later, the firm – by then rebranded as CareWorx – acquired Vancouver-based Fully Managed Technology in a bid to further grow its market base and expand its offerings.
Early last year, the company secured $25 million in venture financing in a bid to penetrate deeper into the U.S. market.
Chief strategy officer Joel Abramson told OBJ last month the firm is not content to rest on its laurels.
“We’re always working on what the next phase of growth looks like,” he said. “This is a high-growth story, and we’ve got some pretty lofty goals.”