Myriad360 Acquires Advizex, Forms $900M AI Platform
Global solutions integrator Myriad360 has acquired Advizex Technologies, creating a combined entity valued at $900 million. The new global platform will focus on enterprise infrastructure, AI activation, managed services, and cybersecurity. The strategic acquisition is designed to form a scaled, growth-led company in the AI and enterprise infrastructure sector.
- New York-based Myriad360 was founded in 2003 by Andrew Fisher and specializes in cybersecurity, cloud, AI, and data center modernization. The company has been recognized on the Inc. 5000 list of fastest-growing private companies 14 times, reporting 77% revenue growth over three years. - Advizex, founded in 1975 and based in Ohio, provides IT solutions including cloud computing and networking. The company, with approximately 300 employees and $100 million in revenue, was previously acquired by Fulcrum IT Partners in March 2023. - The acquisition aims to combine Myriad360's expertise in cybersecurity and AI with Advizex's experience in managed services and hybrid cloud solutions to address growing enterprise needs for scalable data management. - Jay Miley serves as the CEO of Myriad360, while C.R. Howdyshell is the CEO of Advizex. - Advizex has a strong focus on "Everything-as-a-Service" and on-premise cloud consumption models, which saw a 27% increase in services sales in 2021. The company holds over 800 technical certifications and boasts a 97% customer satisfaction rate. - Myriad360 operates in over 160 countries, providing services that include full customs clearance and VAT expertise, which complements its technology offerings. The company has also been named a Palo Alto Networks Diamond Innovator. - This deal is part of a larger trend of consolidation in the IT solutions sector, as companies aim to broaden their service portfolios to include comprehensive AI and cloud solutions. - The newly formed entity will leverage partnerships with major technology vendors, including Dell, Microsoft, and NVIDIA, to deliver integrated solutions to a combined customer base of over 2,700 clients.
