EDTS And EDTS Cyber Announces Private Equity Partnership And Merger With Corsica
EDTS, a leading IT Service Provider, and their sister company, EDTS Cyber, a provider of security services, announces a partnership with private equity firm Inverness Graham. As a part of this relationship, EDTS and EDTS Cyber will merge with Inverness Graham portfolio company Corsica Technologies, another leading IT Service Provider in the mid-Atlantic region. EDTS specializes in managed IT services, professional services, cloud services, and disaster recovery and business continuity solutions. In addition, EDTS Cyber is an award-winning cybersecurity practice focused on 24x7x365 security monitoring, threat prevention, assessments, incident response, and consulting services for clients concerned about cyber risks.
With this merger, EDTS, EDTS Cyber and Corsica have a significant presence in the Baltimore; Houston, Texas; Washington, D.C.; and New York City areas along with Augusta, Savannah, Greenville, Columbia, Charleston, Charlotte, and Asheville markets. This merger of two nationally ranked and leading IT service firms creates a growth platform that will enable the continued development of next-generation services, a broadening of the talent base of the combined companies, and provide the necessary resources to continue to meet the ever-changing technology needs of their clients. “Our partnership with EDTS, EDTS Cyber, and Corsica reflects our commitment to well-managed, high growth, successful companies that are looking for a financial partner for additional growth,” says Trey Sykes, managing principal at Inverness Graham.
This merger brings together two organizations that are relentlessly focused on creating best in class service models for their clients. “EDTS’s focus on being that true partner and advisor for our clients means always looking for ways to improve our service delivery and our offerings. This merger with Corsica brings us some things that we need to grow and scale at EDTS and brings things to Corsica that were specific needs for them. These combined companies, with similar models and commitments to excellence, will truly make us better together,” says Charles Johnson, founder and CEO of EDTS and EDTS Cyber. Johnson continues, “In the past few years, I have spent considerable time on our fast-growing security practice. There is significant investment in cybersecurity, at the national, state, and local level, in our community and our clients need someone they can trust to help guide them through their approach to security. With this merger, I’ll be focused on leading the security practice and helping our clients navigate the ever-changing security landscape.”
Dale Walls, CEO of Corsica, will assume the CEO role for the combined entities. “When I first met Charles, I was stunned at the similarities in our company stories. We have both built companies through hard work, a focus on customer service, and a focus on the local markets where we live. I was looking to build a security practice and Charles had already built an award-winning practice group in EDTS Cyber. Charles was looking for executive talent to grow and scale and I had just brought on two industry veterans with experience at some of the largest MSPs in the world. The fit between the companies made perfect sense, and I couldn’t be more excited about what is ahead for us,” says Walls. Walls wants the clients of both EDTS and Corsica to know that their needs are at the forefront of all decision making during the merger. “I want our clients to have a high degree of confidence that their experiences with EDTS and Corsica will continue to get better and better. For us to continue to grow, we cannot do that without our valued clients. We feel strongly that ‘good is the enemy of great’ and we want to have an intense focus on looking for ways to improve our processes to support the high-quality support our customers expect,” says Walls.
Inverness Graham invested in Corsica in November of 2018, and the merger with EDTS and EDTS Cyber completed in March of 2019.
Financial terms of the transaction were not disclosed.