Fulcrum IT Partners has acquired Canadian IT services leader Stoneworks Technologies, an IT consulting, implementation and integration services provider. Financial terms of the deal were not disclosed.
This is technology M&A deal number 198 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Fulcrum IT Partners is based in Delaware. Fulcrum is the parent company of IT solution companies in the UK, Canada and the U.S. Fulcrum holds a majority stake in Tieva, a cloud and infrastructure provider in the United Kingdom and iOn, an MSSP in Calgary, Alberta.
Stoneworks Technologies, founded in 2001, is based in Ottowa, Ontario, Canada. The company has 26 employees listed on LinkedIn. Stoneworks’ areas of expertise include Cloud Computing, DataCenter, Virtualization, Big Data, Artificial Intelligence, Cyber Security, Mobility, Professional Services, and Support. Stoneworks manages resilient and reliable infrastructure for more than 500 corporations and government agencies in Canada, the company said. Its preferred technology partners include vendors Cisco, Dell, Hitachi, HPE, and VMware.
The acquisition expands the team’s reach in Canada from coast to coast and expands the companies’ vertical specialization in the public sector. Stoneworks’ client portfolio of departments and agencies within the Canadian Federal Government and other public sector clients will broaden the combined companies’ reach.
Stoneworks Technologies will maintain its brand and the provider’s CEO, Jody Burton, will join the Fulcrum IT Partners executive leadership team (ELT).
Fulcrum Acquires Stoneworks: Executive Insight
Burton commented on the news:
“We are excited to join the Fulcrum family and build on Stoneworks’ specializations and excellence in engineering and customer experience. I look forward to working with the Fulcrum leadership team to bring even more business insights and IT services to our portfolio of customers.”
Kyle Lanzinger, President, U.S. & Canada of Fulcrum IT Partners, added:
“Stoneworks is an incredible addition to the platform we are building at Fulcrum. Their trusted relationships with the Canadian government and networking capabilities will help create a stronger Canadian presence for our consumption and Fulcrum Titanium cybersecurity-as-a-service offerings. Just as exciting is bringing iON’s top-tier cybersecurity capabilities to Stoneworks’ customers as we build a unified Canadian solution offering.”
Fulcrum’s M&A Activity
This is Fulcrum’s third acquisition of 2023. Fulcrum has made other strategic acquisitions, including buying Advizex in March 2023.