The summer of 2022 may be on its last leg, but the merger and acquisition landscape continues to sizzle with a trio of announcements to greet September.
On the dealer side, DEX Imaging was at it again, reeling in Cleveland-based Meritech, a $32 million performer. Fisher’s Technology expanded into Utah with the acquisition of VLCM’s managed print services business. In a software deal, ConnectWise obtained Wise-Sync, a longtime partner and an integrated payment automation platform.
While DEX Imaging has been on an acquisition jag this summer, this most recent deal may be the biggest coup of 2022. Led by CEO Mary Ann Bednar, Meritech has been in business for nearly 45 years. A multi-line dealer, Meritech carries virtually every major OEM in the industry.
Dennis Bednar founded Meritech in 1978 on a $500 loan, and over a three-decade span with the help of his capable and loyal team grew the company into the multi-million dollar, locally-owned business that it is today. Bednar’s commitment to honesty, integrity and accountability has been the foundation of Meritech’s success.
“We are pleased to announce the acquisition of Meritech, which facilitates DEX Imaging’s expansion into Northeast Ohio,” said DEX Imaging CEO Dan Doyle Jr. “We could not ask for a better team to join our DEX family. Meritech is led by seasoned industry veterans who have built a solid base from which we will further develop and expand.”
Fisher’s Technology-VLCM MPS Business
Fisher’s Technology, the number one Office Equipment provider as voted by the Idaho Business Review, is excited to announce its expansion into the state of Utah. VLCM’s Managed Print Services business will be acquired by Fisher’s Technology as of September 1st, while VLCM will retain all other areas of business including cybersecurity, data center, BU/DR, virtualization, hybrid cloud, networking, Microsoft, UC, audio/visual, and professional services.
Fisher’s Technology, who has been providing office equipment services in Idaho for over 86 years, has locations throughout the state of Idaho, Montana and in eastern Washington. Fisher’s will operate out of VLCM’s current location (864 E. Arrowhead Lane, Salt Lake City, UT 84107) until until it can source a new location in the Salt Lake City area. VLCM’s Managed Print Services will be rebranded to Fisher’s Technology starting this month.
“Fisher’s is extremely excited to welcome the VLCM print team to ours and to leverage their legacy in Salt Lake City and St. George as we launch into Utah, said Chris Taylor, CEO of Fischer’s. “The VLCM print team is such a great cultural fit for Fisher’s as they are amazing people who love working together and they are 100% committed to delivering an exceptional customer experience. We have wanted to serve Utah for a long time, and we could not have selected a better starting point with a team of high-performing people.”
Mike Linton, VLCM’s CEO, explains, “We wanted to find an exceptional partner that would take care of our managed print customers and keep the VLCM print team together. We did a very thorough evaluation of several potential candidates and unanimously agreed that Fisher’s was a fantastic organization that would provide the type of outstanding service and support that VLCM’s Managed Print Services customers deserve moving forward. It was also obvious that there was a clear connection with culture and commitment to excellence between the two organizations.”
ConnectWise-Wise-Sync
ConnectWise, the world’s leading software company dedicated to the success of IT solution providers, today announced it has acquired Wise-Sync, an integrated payment automation platform and long-term partner in the ConnectWise ecosystem.
The acquisition will pair ConnectWise’s best-in-class IT solution provider (TSP) software and services platform with cutting-edge payment processing and invoicing automation functionality.
Designed originally when founder, Paul MacNeill, saw a need to ease the challenge of automating the collection of payments, Wise-Sync is an integration that allows TSPs to improve cash flow, remove painful errors, and allow businesses to scale. In addition to this integration being available in ConnectWise Manage, both groups also announce that partners using ConnectWise Sell now also have access to Wise-Pay as a payment processor, enabling them to fully automate payment collection as their customer approves a quote.
“Wise-Sync provides payment and accounting software integration for MSPs and has a track record for receiving excellent partner feedback,” said Chris Timms, EVP of growth, ConnectWise. “The long-time relationship with Wise-Sync as a trusted integration to ConnectWise APIs makes them a natural choice for onboarding more formally into the ConnectWise family. We are eager to take our first step into the payments processing space – ConnectWise products to date have not had this functionality. Expanding this part of our portfolio is an exciting move for our partners and us.”
Wise-Pay is an integrated payment processing platform that seamlessly couples with Wise-Sync for an entirely automated invoice lifecycle. According to analysts, 90% of manual invoice processing costs stem from labor; by streamlining the process with accounts receivable automation, costs can be reduced by 17x. Beyond the automation benefits, Wise-Pay offers, Wise-Sync has an established relationship with some of the world’s largest payment providers. As a result, Wise-Pay is the preferred choice for reducing the cash gap across hundreds of MSPs.
“As part of ConnectWise, Wise-Sync will be able to leverage ConnectWise’s expertise to further improve our unique ability to bring payment automation experiences to MSPs globally,” said MacNeill, who joins ConnectWise as general manager, payments. “Expanding MSPs’ ability to build greater financial efficiency in their business is our top priority. ConnectWise opens doors for us to do so at scale.”
Wise-Sync, which already has deep integration with ConnectWise Manage, and now ConnectWise Sell, will continue to be available for purchase as a standalone product via the ConnectWise Marketplace.
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About Fisher’s Technology
Fisher’s Technology is an 86-year-old company hailing originally from Boise, Idaho with 4 locations in Idaho, 6 locations in Montana and a location in Spokane, WA and Salt Lake City, UT. Fisher’s manages IT environments, sells and services copiers and printers, and streamlines business operations with electronic document management and related software solutions. Fisher’s mission is to make customers extremely happy while having a great time.
About DEX Imaging
DEX Imaging is the digital document imaging arm of Staples, the world’s largest business solutions provider. DEX sells and services the broadest selection of copiers, printers and data management solutions in the industry, such as Konica Minolta, Canon, Kyocera and HP, with annual revenue exceeding $350 Million. What makes DEX unique is its people, whose combined knowledge of cutting-edge business technologies and depth of service experience are unmatched. DEX Imaging’s success is directly tied to its mission: to help customers of all sizes drive down document-related expenses while improving productivity.
About ConnectWise
ConnectWise is the world’s leading software company dedicated to the success of IT solution providers (TSPs) through unmatched software, services, community, and marketplace of integrations. ConnectWise offers an innovative, integrated, and security-centric platform—Asio—which provides unmatched flexibility that fuels profitable, long-term growth for partners. ConnectWise enables TSPs to drive business efficiency with automation, IT documentation, and data management capabilities and increase revenue with remote monitoring, cybersecurity, and backup and disaster recovery technologies.
