Myriad360 Acquires Advizex in $900M Deal
Global systems integrator Myriad360 has acquired Advizex Technologies. The strategic acquisition forms a new $900 million global platform focused on AI activation, enterprise infrastructure, cybersecurity, and managed services.
- Prior to this acquisition, Advizex was acquired by Fulcrum IT Partners in March 2023, at which time it was a $230 million solution provider. - C.R. Howdyshell, who will continue to lead Advizex, stated that joining Myriad360 expands their service capabilities while preserving their company culture and that clients will work with the same teams. - The combination of the two companies is expected to generate over $900 million in annual gross revenue. - Myriad360's CEO, Jay Miley, emphasized that the acquisition is aimed at positioning the new entity for future market trends, with a focus on continuity for clients. - Advizex has a strong presence in markets where Myriad360 has a limited footprint, and it brings enterprise relationships and managed services to the new platform. - Ohio-based Advizex has been recognized for its rapid growth, ranking No. 124 on the 2023 CRN Fast Growth 150 list. - Myriad360 specializes in cybersecurity, modern infrastructure, and cloud services, which will complement Advizex's expertise in hybrid infrastructure and data engineering. - Advizex has been heavily focused on an "Everything-as-a-Service" model, with a reported goal of hitting $70 million in recurring revenue services in 2022.
