One Equity Partners acquires majority stake in systems integrator Myriad360
Myriad360 management to retain significant ownership position. The company acquired Advizex Technologies earlier this year. Funding will support organic growth and add-on acquisitions.
One Equity Partners Acquires Majority Stake in Systems Integrator Myriad360
One Equity Partners has announced a majority investment in Myriad360, a services-led global systems integrator. The specific terms of the deal were not disclosed. Myriad360's current leadership team is set to maintain their roles and retain a significant ownership stake in the company, working alongside One Equity Partners.
Myriad360, established in 2003, specializes in offering various technological capabilities. Its service portfolio includes artificial intelligence (AI), cloud solutions, managed services, cybersecurity, networking, and data center modernization. The company caters to a diverse client base, encompassing enterprises and neocloud organizations.
Earlier this year, Myriad360 expanded its service offerings through the acquisition of Advizex Technologies. This strategic move aimed to broaden its capabilities and market reach within the technology sector.
One Equity Partners' investment is intended to provide Myriad360 with additional capital resources and strategic support. This backing is designated to facilitate organic growth initiatives, enable further investment in talent and service development, and support the pursuit of add-on acquisitions that align with and enhance Myriad360's existing business operations.
Charlie Cole, a partner at One Equity Partners, highlighted Myriad360's growth trajectory as a key factor in the investment decision. He emphasized the company's strong client and partner relationships, alongside its talent, as core drivers of its success and appeal.
This transaction signals a continued interest in the technology services sector, particularly in areas like systems integration, cybersecurity, and cloud solutions. Private equity firms appear to be targeting companies with demonstrated growth, strong client relationships, and potential for further expansion through both organic strategies and strategic acquisitions, indicating a belief in the sustained demand for sophisticated IT infrastructure and service capabilities.