CEO of Lyra Technology Group Discusses Expanding Local MSP Structure, Artificial Intelligence, and Further Developments
In the rapidly evolving IT landscape, Evergreen continues to make waves with its aggressive M&A strategy. The company, under the leadership of Hyman from Evergreen, is keen on both traditional and innovative approaches to IT services.
Evergreen casts a wide net, seeking out providers with specific technical capabilities and innovative go-to-market strategies. This approach has led to the acquisition of several companies, including the MSPs within the Lyra Technology Group.
One such acquisition is the Lyra Technology Group itself, which, as of August, saw 89% of its portfolio engaged in AI, either internally or with customers. The acquisition of Next7 IT, based in Pittsburgh, PA, in August, further bolstered Evergreen's AI capabilities.
On Sept. 3, Evergreen announced four additional acquisitions: Equation Technologies, LAN Solutions Corp., Corporate Networks, and The ITeam. However, the details of these acquisitions have not been fully disclosed.
Each provider in the Lyra Technology Group retains its branding, staff, and many of its processes. This approach allows Evergreen to adapt to the AI era while maintaining the unique identities of the companies it acquires.
Craig Fulton, Evergreen's M&A Advisor, discussed the ongoing wave of M&A in the channel. He emphasised that Evergreen seeks trustworthy and high-integrity sellers when acquiring MSPs. The company values the customer experience and understands the MSP business at the ground level.
The model of Lyra Technology Group offers a winning situation for everyone. Lyra gains market share and expands its reach, while MSPs who sell to Evergreen unlock new opportunities to scale. Adapting to the AI era is the next frontier for Lyra Technology Group, and AI will be a significant part of their story for the next few years.
Evergreen is one of several players actively acquiring MSPs across the country and around the world. The company's success in this arena underscores the importance of a good reputation, with customer references playing a crucial role in Evergreen's acquisition decisions.
In conclusion, Evergreen's M&A strategy is driving its growth and positioning it for success in the AI era. The company's focus on both traditional and innovative IT services, coupled with its commitment to customer experience, makes it a formidable player in the MSP market.
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