Vology, Inc. Acquires VITAL Network Services
Deal Marks Expanding National Footprint and Managed Services supporting more than 100,000 Customer Devices
TAMPA, Fla., Aug. 27, 2015 /PRNewswire/ -- Vology, Inc. a leading national IT solutions company, has acquired VITAL Network Services of Tampa, an international provider of network support services representing some of the largest and most widely known corporate brands in the nation. Terms of the acquisition were not disclosed and VITAL Network Services will be a wholly-owned subsidiary of Vology, Inc.
"This investment immediately and substantially advances Vology's market position as an outsourced provider of IT infrastructure management services, and we intend to continue along this growth path, both organically and through incremental complementary acquisitions," says Barry Shevlin, Vology's CEO and founder. "With our customers' core needs in mind, this acquisition will allow us to scale Vology's complete services portfolio on a national level while integrating VITAL's 24/7/365 support mentality, furthering our mission of delivering IT freedom in evolved and unprecedented ways."
This acquisition allows the combined company to reach more than $215 million in revenue while employing more than 400 engineering, sales and operational professionals across the U.S. With the expanded capabilities, Vology will be able to deliver more comprehensive IT solutions by leveraging fully redundant remote network operations and service desk facilities. This results in seamless management of more than 100,000 devices on a 24/7/365 basis. To support its customers' increased demands and growth trajectory, Vology expects to add more than 85 new positions in the foreseeable future, half of which will be fulfilling engineering roles.
"I am very pleased to see VITAL become part of Vology, a company that is one of the fastest growing and best places to work in the greater Tampa Bay area," says VITAL CEO John Koehler. "As it became time for me to step back and spend more time with family, I wanted to find the best company possible for the employees and customers of VITAL. That best company was Vology." Koehler adds that the Vology acquisition would make a wider range of solutions available to VITAL's existing client base.
"We will be acutely focused on combining the best solutions and capabilities from both companies to ensure we collectively provide our customers with an unparalleled experience," says Steve Torres, Vology's chief operating officer. Vology financed the acquisition with growth capital provided by SunTrust Bank as syndicate lead for the company's senior credit facility, as well as from Capitala Finance Corp. of Charlotte, N.C.
About Vology
Vology, an Inc. 5000-ranked fastest growing private company for 10 consecutive years, removes the confusion, wasted time and barriers that keep companies from achieving their technology goals. Through a nationwide reach of world class solutions and services and best in class engineers, Vology designs, implements and manages infrastructures for organizations across a variety of industries. Headquartered in Tampa, Fla., Vology delivers freedom from IT as it's always been done.
About VITAL Network Services, Inc.
VITAL Network Services Inc., a service-only, multivendor support provider headquartered in Tampa, Fla., delivers industry-leading network support services to integrators, value-added resellers, distributors and carriers. The company's comprehensive portfolio of LAN/WAN, unified communications, wireless, server and managed broadband-based VPN solutions address all facets of the network lifecycle including network design and planning, integration, maintenance, and proactive monitoring/management.
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SOURCE Vology, Inc.
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