Managed services News
ConnectWise’s Jason Magee: An ‘IPO Is An Option’
‘We’ve been doing a lot over the years to get in a good place operationally. And when I am asked or tapped on the shoulder to go do something, if they say IPO then that’s what I’ll go do,’ says ConnectWise CEO Jason Magee.
After speculation of a possible sale earlier this year of vendor ConnectWise, CEO Jason Magee said taking the company public is an option.
But no moves have been made.
“We’ve been doing a lot over the years to get in a good place operationally,” Magee told CRN. “And when I am asked or tapped on the shoulder to go do something, if they say IPO then that’s what I’ll go do.”
In June, Magee told CRN that ConnectWise was in a “time horizon” to be acquired and that it’s not a matter of it, but when.
The 3,100-employee vendor was acquired by Thoma Bravo in 2019 but earlier this year sources close to the deal said a bidding war had been heating up for control of the Tampa, Fla.-based MSP-focused IT management software maker.
“The talk went from ‘ConnectWise is being sold’ to ‘PEs are in their house having meetings day in and day out, and they’re all in there bidding,” one source told CRN in April, noting that Bain Capital was a strong candidate at the time.
And ConnectWise may also be eyeing a company to buy as well.
“We chat with companies all day,” Magee said. “There’s a good pipeline and it just comes down to good strategic synergy, a good culture fit and if can we make the numbers work. We’re not short of that opportunity, so we’ll see.”
CRN spoke to Magee more about the possibility for an IPO, acquisitions and what partners need to know.
Click through the slideshow to read the interview.