Financial terms of the transaction were not disclosed.
This is technology M&A deal number 274 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Magna5, founded in 2014, is based in Pittsburgh, Pennsylvania. The company has 226 employees listed on LinkedIn. Magna5's areas of expertise include managed IT, cybersecurity and cloud services.
ANS, founded in 1996, is based in Charlottesville, Virginia. The company has 31 employees listed on LinkedIn. ANS's areas of expertise include managed IT and cybersecurity services.
What the Acquisition Means for Magna5 and Advanced Network Systems
ANS strengthens Magna5's position as "a leading provider of managed IT services, including network management, cybersecurity, data recovery and cloud services," the companies indicated.
Furthermore, Magna5 will look to build on ANS's existing offerings with its Pentaguard managed IT services suite, Magna5 CEO Bob Farina said.
ANS also allows Magna5 to add new locations and grow its footprint across the East Coast and Midwest portions of the United States, Farina noted.
Along with these things, ANS's employees will be joining Magna5's team, ANS CEO Kevin Leibl said.
Magna5 Earns a Spot on the 2023 Inc. 5000 List
The ANS acquisition comes after Magna5 in August 2023 was named to the 2023 Inc. 5000 list of the fastest-growing private companies in the United States. Magna5 ranked 2,437 on the list.
Demand for cybersecurity, cloud services and managed IT services is increasing, Farina pointed out. In addition, Magna5 continues to win new business by trying to understand its customers' needs and investing in its team, technology and service processes, Farina said.
A Closer Look at Magna5
Magna5 is a Top 250 MSSP and NewSpring Holdings platform company with over 20 years of experience in managed IT services. Organizations can use Magna5's Pentaguard services to protect and manage their data, Magna5 stated. These services also help organizations stay ahead of evolving cyber threats and maintain their IT operations.