Portland-based IT services company Winxnet acquired a Massachusetts company in a deal that adds 40 more employees to its roster and establishes a physical foothold in the Boston-area market.
“Our mission is to be the premier IT consulting and outsourcing company on the East Coast and this is part of our plan we’re executing against by expanding farther south,” said Christopher Claudio, Winxnet CEO. “This is the first step as part of that plan.”
Winxnet announced the acquisition of Methuen, Massachusetts-based KSDA Consulting on Tuesday. Terms of the deal were not disclosed.
KSDA, also an IT consulting firm, has expertise in the areas of enterprise resource planning, business applications and cloud and datacenter operations. Its 40 employees will remain in Massachusetts, operating under the Winxnet name. Combined, Winxnet now has about 115 employees.
“What makes this acquisition so logical is not only their location, but the talented group of people they have,” said Claudio.
KSDA’s services are complementary to Winxnet’s and the cultures are similar, said KSDA co-founder John LoConte.
“Our core values of integrity, honesty and respect in dealing with clients and co-workers directly align with Winxnet’s way of doing business,” he said in a release. “The integration of the two cultures will strengthen Winxnet’s ability to offer the best complete business technology solutions to organizations in need of IT support and guidance. It is exciting to be a part of a growing company with a strong reputation for service.”
In April, Winxnet acquired Portland IT security firm InfoSecurus. At the time, Claudio told the Portland Press Herald that Winxnet was in the midst of negotiating three other acquisitions.
Claudio said the acquisitions were planned for three purposes: to acquire highly skilled talent; to allow Winxnet to strengthen its service areas; and to help the company expand into southern New England.
The KSDA acquisition “further legitimizes us as a regional lT consulting company, not only here in the Northeast, but on the entire East Coast,” said Claudio.
Winxnet has expanded its revenue by 189 percent since its founding in 1999, a performance that twice earned it a spot on Inc. magazine’s fastest-growing companies list. Claudio said if all the acquisitions go as planned, he expects the company will increase revenues from a projected $15 million in 2014 to $40 million by 2016.