GreenPages, a Kittery, Maine, solution provider, said last Thursday that it has added to its vertical punch with the acquisition of TenCorp, a 14-year-old, $10 million solution provider with a robust services practice and deep technical talent.
Terms of the deal between the two private companies were not disclosed. The 35-employee TenCorp, which has an impressive government and education clientele, has a field service organization of 25 professionals, a strong Microsoft infrastructure practice and a growing VoIP business. Needham, Mass.-based TenCorp, which derives 50 percent of its sales from services, has partnered with IBM Global Services on deals and also is a Hewlett-Packard ProCurve partner.
“This is a huge deal for us,” said GreenPages CEO Ron Dupler. “It’s obviously not a volume play. It’s a strategic play. This augments our technical and engineering capabilities and adds to our vertical market capabilities with strong competencies in state and local government and education. TenCorp is a real technical company, and we bring a strong sales model to help penetrate those contracts. This is a great marriage.”
With the acquisition completed, GreenPages, which has a healthy technology procurement business and a growing solutions business, will have approximately 135 employees and $100 million in annual sales.
GreenPages and TenCorp will combine forces over the second and third quarters. “When you blend these two companies together, we have a real unique go-to-market strategy,” Dupler said. “It’s a very unique business model. Not too many people can say they are as strong on the technology procurement side as GreenPages. That is our forte. We are already doing well on the solutions side. This accelerates that significantly.”
The combined company will continue to operate under the GreenPages name with corporate headquarters located in Kittery. Operations, however, will continue at TenCorp’s Massachusetts and Rhode Island facilities.
“This is a great deal,” said TenCorp President Michael Healey, who will become GreenPages CTO. “GreenPages is firing on all cylinders. Their services and solutions practices match up nicely with ours. It fits like a glove. We are pumped.”
TenCorp has traditionally had a high-margin business that has sustained the company even during the downturn, Healey noted. The higher product volumes GreenPages brings will result in better pricing for TenCorp customers, Healey said.
“We can now do a more complete solution regardless of brand or practice,” he said. “If a customer is not buying from someone with aggressively priced hardware and software that can wrap a solution around it and deliver it all, they should be looking at us. Customers don’t want to piece together a solution. They want someone that can deliver it at the right price all the way through the entire solution, including servicing and supporting it.”
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