Financial terms of the transaction were not disclosed.
This is technology M&A deal number 315 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
The Urbandale, Iowa-based IP Pathways, founded in 2007, offers IT hardware and software, data center, cloud, professional and managed services to businesses, local government, and healthcare organizations throughout the Midwest. The company also maintains offices in Omaha, Nebraska, Kansas City and Columbus, Ohio.
Why the Merger Makes Sense
The company said that its AdaptiveCloud platform fuels organizations in Des Moines, Columbus, Omaha, Kansas City, and other areas throughout the Midwest.
IP Pathways said the acquisition will enable it to expand its security and compliance services and “solidify” its position as a trusted IT partner.
“With the ever-increasing threat of cybersecurity attacks, Tenax will allow us to provide next-level security to our clients,” said Joe Shields, IP Pathways president and chief executive. “Tenax shares our growth mindset, and a partnership with them solidifies our commitment to reliable and secure infrastructure to empower businesses to thrive in the digital age.”
The four-year-old Des Moines, Iowa-based Tenax has been focused on serving MSPs but has extended its reach to serve small and large enterprise-level clients. Its solutions include vulnerability scans, penetration testing and compliance examinations. It serves the healthcare, construction, legal, finance, technology and education markets. The company also offers software-as-a-service solutions.
Tenax chief executive Sheldon Speers said the “partnership will allow us to expand our reach and enhance our offerings, providing even greater value to our clients. We share a mission of creating custom solutions tailored to each business's unique needs, and together, we can provide information security and compliance solutions across the United States."