Transaction expands and enhances Navisite's market leadership as a managed cloud service provider for mid-market and enterprise companies
ANDOVER, Massachusetts, Jan. 6, 2021 /PRNewswire/ -- Navisite today announced that it has acquired Velocity Technology Solutions, Inc. ("Velocity"), a global cloud managed service provider (MSP). With this acquisition, Navisite enhances its position as a leader of managed cloud and enterprise resource planning (ERP) services for mid-market and enterprise customers, including a base of both fast-growing and established global brands. Velocity will enhance Navisite's service portfolio through the addition of deep enterprise application expertise and a robust cloud platform that simplifies the migration and management of customer environments across public, private and hybrid clouds. Navisite is executing its customer-focused growth strategy with the continued investment support of Madison Dearborn Partners, a leading private equity investment firm based in Chicago.
"Organizations need a technology partner that not only offers modern cloud services and expertise to support their digital transformation goals, but also is capable of delivering rightsized solutions," said Mark Clayman, CEO of Navisite. "Every step we've taken as a company, including this acquisition, has been focused on being that trusted partner and building a customer-centric portfolio of solutions."
Founded in 2003 and headquartered in Charlotte, North Carolina, with operations in North America, South America, Europe and Asia, Velocity delivers secure, fully managed cloud environments through a portfolio of application-focused cloud managed services and professional services with data analytics. Velocity's expertise in managing leading ERP applications and leveraging its Velocity Cloud Application Management Platform (VCAMP) enables its customers to optimize application performance on-premises and in the cloud with the required availability, security, visibility and control at a reduced total cost of ownership. Velocity's cloud managed services products include cloud managed infrastructure, databases, disaster recovery, data lakes and managed container support. Velocity is an AWS Premier Partner, certified as both a migration and MSP supporting Microsoft, SAP and Oracle applications, as well as an Oracle Platinum Partner and certified MSP.
"With Velocity, we've added significant scale and breadth to our capabilities, global presence, data centers and public cloud expertise to support customers as they navigate the challenges of today and tomorrow across every part of the technology stack—from cloud migration and management to infrastructure, enterprise application and data management services," added Clayman.
The Velocity acquisition will also augment Navisite's managed services for Oracle and SAP applications, and support industry-specific ERPs, including Oracle E-Business Suite (EBS), JD Edwards, PeopleSoft, Infor and Epic, as well as business intelligence solutions such as Hyperion, OneStream and Qlik.
Navisite recently announced the acquisition of Dickinson + Associates, a premier SAP Gold Partner. Velocity's strengths in SAP will further enhance Navisite's SAP solutions, enabling Navisite to deliver technical and functional consulting, implementation and support services to help customers adopt SAP cloud technologies and migrate to SAP S/4HANA, which is SAP's ERP for large enterprises. Through its combination with Velocity, Navisite will further strengthen its capabilities across manufacturing, healthcare and other industries, supporting customers as they look to migrate, modernize and manage legacy deployments in private, hybrid and public cloud environments, including AWS, Google Cloud and Azure.
"We look forward to what we can accomplish together with Navisite," said Steve Kloeblen, CEO of Velocity Technology Solutions. "With Navisite's resources, global capabilities and complementary expertise, Velocity is positioned to become an even stronger partner for our customers growing and competing in the digital economy. Most importantly, our customers can expect greater breadth and depth of services to help them eliminate IT complexity, lower costs associated with monolithic software deployments and migrate and transform their businesses in the cloud."
Stifel, Nicolaus & Company served as Velocity's financial advisor, and Weil, Gotshal & Manges LLP provided legal counsel to Velocity. Jefferies LLC and TD Securities LLC served as Navisite's financial advisors, and Kirkland & Ellis LLP provided legal counsel to Navisite.
About Navisite
Navisite is a modern managed cloud service provider that accelerates IT transformation for thousands of growing and established global brands. Through our deep technical knowledge and strategic relationships with the world's leading cloud providers, proven delivery methodologies, platform-agnostic approach and worldwide network of highly specialized experts, we provide the capabilities and practical guidance customers need to successfully embrace IT change and move their businesses forward. Let us partner with you to navigate the now—learn more at navisite.com.
About Velocity Technology Solutions
Headquartered in North America, Velocity Technology Solutions has over 20 years of experience migrating, managing, and modernizing mission-critical enterprise applications in the cloud. Velocity's mission is to enable mid-market companies to do what they do best by maximizing the value of their Applications and Cloud Platforms. Our purpose is to give our customers the freedom to innovate, modernize, and move to the future. For more information, visit: www.velocitycloud.com.
About Madison Dearborn Partners, LLC
Madison Dearborn Partners, LLC ("MDP") is a leading private equity investment firm based in Chicago. Since MDP's formation in 1992, the firm has raised aggregate capital of over $26 billion and has completed over 150 investments. MDP invests across five dedicated industry verticals, including telecom, media and technology services; basic industries; business and government software and services; financial and transaction services; and health care. For more information, please visit www.mdcp.com.
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