An new entity has been created by the coming together of two managed service providers. In mergers and acquisitions news in Canada, Fully Managed Technology Inc. and CareWorx Corporation have merged, giving birth to CareWorx Fully Managed. The new company will have 270 employees under its wing as it takes flight.
CareWorx Fully Managed with have three separate divisions: managed services, senior care and enterprise service management. The company will introducing its branding early in 2019. The merger took about a year to complete and the new company's CEO says an MSP unicorn was created by the marriage in that it is unlike any other managed service provider.
The CEO has hopes the company will grow quickly, organically and through acquisitions, while looking at the overall customer experience. CareWorx was a top-50 globally managed service provider of senior care. Fully Managed was a service provider of innovative IT solutions which were used by more than 150 companies. Discussions to merge the two companies were held over eight years.
Mergers and acquisitions deals can be both exciting and perplexing. There are many technicalities involved in the merger of two distinct companies, so having a lawyer involved to draft any documents and look over any contracts is extremely important. A lawyer in Canada can also provide advice on the structure of a deal for legal and tax purposes. Significant business planning goes into a merger or an acquisition and an experienced business lawyer can help to guide a client through the various legal tunnels that govern the law.