Tampa-area Solution Provider 500 companies Vology and Bayshore Technologies are combining to create a "hybrid super VAR" expected to hit more than $140 million in 2013 revenue, the companies said Wednesday.
Financial terms of the deal, which was effective Dec. 28, weren't provided. The new company will be called Vology, with the Bayshore moniker attached to the company's professional services delivery business. The company will have about 200 employees, and Barry Shevlin, Vology's CEO and founder, will stay put, while Bayshore CEO Peter Anderson will become Vology's senior vice president.
According to Shevlin, the move makes Vology a "hybrid super VAR," building on CRN's definition of super VARs who have national reach, annual revenue greater than $100 million and a range of expertise, from inventory management to logistics.
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"This is a combination that is unique within the industry, providing minimal customer overlap, complementary vendor portfolios, complimentary services and similar corporate values," Shevlin said in a statement. "We cannot be happier about this."
Vology, based in Oldsmar, Fla., and ranked No. 202 on the 2012 Solution Provider 500, was founded in 2002 and reached nearly $100 million in revenue in 2012, according to the company. Among other accolades, the company was named to CRN's Tech Elite 250 list and has been a member of Inc.'s 500/5000 list of fastest-growing private companies for seven years running.
Vology holds major partnerships and certifications in networking, security and infrastructure, including with Cisco, Juniper, Brocade, Dell SonicWall and Palo Alto Networks.
Bayshore, based in Tampa and ranked No. 364 on the SP500 listing, was founded in 1997. It partners heavily with Citrix, with which it is a Platinum Solution Advisor, and also Cisco, HP, Microsoft, VMware and CommVault among others. It was also on CRN's Tech Elite 250 and Fast Growth 100 lists for 2012, having grown 76 percent from 2009 to 2011.
Bayshore's other co-founders, Frank Mann and Winston DuBose, will become Vology's CTO and a vice president of business development, respectively.
"It's not often you have the opportunity to combine two such well-respected companies whose businesses complement each other so well," Bayshore's Anderson said in a statement. "We've known Barry and his team for many years, have the utmost respect for the organization they've built and are very pleased to become a part of it."
Channel consolidation among SP500 solution providers is expected to be frequent in 2013 as VARs and integrators look to expand their capabilities and attack market opportunities in areas such as converged infrastructure and cloud. Shevlin and Anderson said they expect Vology to create more than 100 new jobs over the next two years as a result of the merger and Vology's projected growth.
PUBLISHED JAN. 2, 2013