Acquisition underscores trend among legacy vendors to leverage traditional partners for entry to managed services
Sharp Imaging and Information Company of America (SIICA), a division of Sharp Electronics Corporation, is buying Los Angeles-based Pink Hat Technology Management for an undisclosed sum to expand its regional capacity to deliver network and security managed services.
The Lowdown: Legacy hardware vendors such as Sharp are actively looking to build out recurring-revenue businesses. Some vendors have adopted an acquisition strategy in which they buy regional MSPs to quickly develop accounts and revenue, then take time to integrate technologies into a unified practice.
The Details: Pink Hat, established in 1997, specializes in network and security managed services, predominantly covering Southern California. Owner Joy Beland is a well-known leader in the managed service communities, frequently speaking at industry events on business development and technology issues.
The Buzz: “Our employees are very pleased to join Sharp,” said Beland. “Becoming a part of the Sharp Business Systems team will allow us to leverage the many benefits that come from being a part of an award-winning, multinational company, all of which will be passed along to our current and future customers.”
“We chose the Pink Hat Technology Management team because of their dedication to service, rock-solid IT skills, and robust cyber security platform,” said Anthony Sci, senior vice president of Sharp Business Systems. “The company has an exceptional reputation as a premier cybersolution company in the Los Angeles area, which made this asset acquisition a logical choice for us.”