Company also says that two officials who came over after the deal are leaving
ConnectWise continues to remake itself, with the professional services automation (PSA) and managed service platform provider naming several new C-level executives and reworking its top management structure following the Continuum acquisition.
The Lowdown: The moves come in the wake of the company’s high-profile acquisition in October of rival Continuum and are the latest changes in a year that began with private equity firm Thoma Bravo in February buying ConnectWise for about $1.5 billion.
The Details: ConnectWise named four new executives this week:
> Geoffrey Willison as COO: The former CFO at Continuum has a background in corporate finance, investor relations, corporate strategy, and financial planning and analysis. Before his time at Continuum, Willison was CEO at online textbook marketplace Valor and president and COO of student marketing company Edvisors.
> Brad Surminsky as CFO: He brings expertise in both finance and mergers and acquisitions and has served as CRO at payments and lending technology firm D+H, human resources tech company ADP, customer loyalty firm ACNielsen Canada, and CentralSquare Technologies, which sells public safety and administration software.
> Clint Maddox as Chief Revenue Officer: The ex-vice president of global partners for Broadcom has more than 15 years of experience in the service provider space and has been a strategic advisor for ConnectWise since July.
> Steve Cochran as CTO: He was most recently CTO at another Thoma Bravo company, Global Health Exchange (GHX), where he oversaw the migration of some of the business to the Amazon Web Services cloud. He also has worked at Lockheed Martin, General Electric, OpenText/GXS, data storage company Adaptec, and consumer data firm Innovis.
All four will report to CEO Jason Magee, who took the reins of the company in February with the Thoma Bravo acquisition.
ConnectWise also announced that two executives who came over from Continuum, Chief Revenue Officer Robert Kocis and Tasos Tsolakis, Continuum’s senior vice president of global service delivery, have left.
The Impact: For ConnectWise, 2019 has been a year of significant change, starting with the Thoma Bravo acquisition and the hiring of Magee as CEO. Among the most significant changes was the blockbuster acquisition of Continuum, which greatly expanded the portfolio of products and services it can offer MSPs. At the same time as the Continuum announcement, ConnectWise also said it was buying ITBoost, which sells IT documentation management software for MSPs.
The Buzz: “In late October, ConnectWise announced some transformational moves, including our acquisitions of Continuum and ITBoost, that will position us to become the leading technology and services platform for TSPs. Now, I am excited to announce the leadership structure that will help us execute on that strategy,” Magee said. “This is an extraordinary team, one that represents the legacy ConnectWise and Continuum businesses, as well as respected leaders from outside who bring a fresh perspective. With these updates to the team, I am incredibly optimistic about our company going into 2020 and beyond.”