The deal marks the fourth acquisition for Canadian-founded AppDirect in the last two years.
Canadian-founded, San Francisco-headquartered AppDirect is set to acquire San Ramon, Calif.-based IT lifecycle management software vCom Solutions for an undisclosed amount.
AppDirect, which develops software aimed at simplifying how companies buy, sell, and manage recurring tech services, said the deal will broaden its set of existing solutions.
“AppDirect has a powerful ecosystem, and the vCom team will complement and accelerate all that AppDirect does.”
An AppDirect spokesperson declined to disclose the size of the deal to BetaKit. However, they noted that upon closing, vCom Solutions’ platform will be integrated with AppDirect’s procurement management platform.
This will allow tech advisors and their customers have a single destination to manage their cloud, telecommunications, and mobility services, the spokesperson added.
“By augmenting AppDirect’s current technology management functionality with the depth and breadth of the vManager platform, AppDirect will be able to empower our advisors to offer the world’s most comprehensive IT procurement and management platform to organizations of all sizes,” AppDirect chairman and CEO Nicolas Desmarais said in a statement.
“vCom’s offering will also allow AppDirect advisors to provide additional value to their end businesses, elevating their trusted consultancy and increasing revenue,” Desmarais added.
Founded in 2001, vCom Solutions offers both software and managed services aimed at helping businesses source, manage, and pay for their technology in one place. Among the company’s offerings is vManager, a platform for managing and centralizing IT services, and QuantumShift, which aggregates services from multiple vendors to simplify billing.
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This deal will see AppDirect acquire vCom Solutions’ vManager platform technology, intellectual property, and operations, along with the QuantumShift program and operations. According to AppDirect’s spokesperson, vCom Solutions’ team will become a division within AppDirect, and vCom will spin out its direct sales team and franchise advisors to become an exclusive partner to AppDirect.
In a statement, vCom Solutions’ CEO Gary Storm said the acquisition will deliver on both companies’ original visions to “help businesses find, buy and manage all their recurring IT through trusted advisors.”
“AppDirect has a powerful ecosystem, and the vCom team will complement and accelerate all that AppDirect does,” Storm added.
Based in San Francisco, AppDirect has offices in Montréal and Calgary and strong ties to Canada. It was co-founded in 2009 by Canadians Daniel Saks and Desmarais, with backing from the Desmarais family, one of Canada’s wealthiest and most influential families across a number of sectors, including tech. The family has backed notable Canadian tech companies like Wealthsimple, Koho, and Borrowell via Power Corporation.
Saks recently left his executive position at AppDirect to launch a new venture, Landbase, which is developing an artificial intelligence-powered platform that aims to help companies automate, unify, and optimize their go-to-market processes. The startup closed $12.5 million USD in seed financing in September.
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AppDirect’s solutions help companies streamline tech spending, track inventory, and handle support. The deal with vCom Solutions marks AppDirect’s fourth acquisition in the last two years as the company has sought to diversify its product portfolio. According to the spokesperson, AppDirect sees acquisitions as a “key strategic growth driver.”
In May, AppDirect announced plans to acquire marketplace-building platform Builtfirst, and in August 2023, acquired two of the major businesses owned by US managed services provider ADCom Solutions. This included its enterprise monitoring and management platform VEEUE, as well as its network operations centre.
In early 2023, the company acquired Telecom Brokerage Inc. to merge its engineering and educational resources with AppDirect’s advisors. AppDirect’s prior acquisitions also include ITCloud.ca, Radialpoint, and AppCarousel.
The spokesperson said AppDirect and vCom Solutions are working to close the acquisition “as soon as possible,” but declined to provide a specific target date.
Feature image courtesy AppDirect.
