Owner security

Anexinet acquires Veristor, adding security and storage capabilities

Anexinet, CRN’s MSP 500 Elite 150 member, bought fellow listmaker Veristor Systems to add features around security, storage, networking, and DevOps.

The acquisition approximately doubles the number of employees at Blue Bell, Pa.-based Anexinet to approximately 350, and increases the companies’ geographic reach and capabilities, the CEOs told CRN in a joint interview. The terms of the contract are not disclosed.

“I would consider us – from a services perspective – one of the strongest on the East Coast now combined,” said Brian Glahn, who became CEO of Anexinet last year. “They are the powerhouse of the Southeast. They have capabilities that the Anexinet platform should develop. And by bringing these two companies together, we are able to leverage each other’s strengths and integrate them into our customer base. »

[RELATED: Anexinet To Acquire Cisco Partner Light Networks For ‘Full Stack’ Data Center Offering]

“Our solution sets are just going to expand and even get deeper and better, and the benefactor of that is, first and foremost, the end user for us. That’s our customer,” said Ashby Lincoln, co -founder and CEO of Veristor, based in Duluth, Ga., to CRN.

Companies are always working on changes in branding. But Lincoln and the Veristor management team plan to stay. Companies have few overlapping customers, CEOs said.

Annexet’s vendor partners include Amazon Web Services, Cisco Systems, Microsoft, Salesforce, Hewlett Packard Enterprise and Dell Technologies, according to the company.

Veristor’s vendor partners include HPE, VMware, Intel, Red Hat, NetApp, Cisco and Palo Alto Networks, according to the company.

“From an infrastructure and cloud perspective, we’re stuck and loaded,” Glahn said. “We have the full stack. We now have experts at Cisco. We have the scale. We have significantly increased our cross-selling opportunities and, more importantly, we have significantly increased our value for customers.

Anexinet, part of the portfolio of private equity firm Mill Point Capital, bought communications-focused service provider Light Networks last year and data center automation service provider SereneIT in 2020.

Mill Point is also invested in IT services companies Pythian and Avenu, according to the company’s website.

Mill Point’s previous holding company, DLT Solutions, was sold to Tech Data in 2019 for $205 million. Kemp, another former Mill Point portfolio company, was sold to Progress in November for $258 million. And CXtec bought the former Mill Point Atlantix Global Systems portfolio company in 2017.

Glahn said he was still interested in acquisitions, but was focused on integrating Veristor and maximizing cross-selling potential for both companies.

“We have many organic opportunities over the next 12 to 24 months to get these solutions and practice areas into our client bases,” he said.

Founded in 2001, a year after Anexinet, Veristor was one of the first companies to provide backup and disaster recovery services for VMware, Lincoln said. The company has clients in most major industries, including law firms, universities and healthcare companies.

Lincoln said it is already considering new infrastructure orchestration and network telephony capabilities that Veristor can offer customers after joining Anexinet.

“These are things that we are not doing today on the Veristor side and we know that we are going to be able to connect directly with our current customers and continue to grow, to tie these solutions together,” he said. .