News Summary
Netrio, a managed service provider, has acquired Agio to enhance its capabilities in cybersecurity and expand its footprint in the financial services sector. This acquisition allows Netrio to integrate Agio’s AgioNow platform, utilizing generative AI to improve IT service delivery. With a focus on small to mid-market companies, Netrio aims to enhance its service model and customer experience, marking a significant step in its growth strategy supported by strategic acquisitions.
McKinney, Texas — Netrio, a managed service provider (MSP), has expanded its reach and expertise in the financial services sector through its acquisition of Agio, a managed IT and cybersecurity provider based in New York City. This strategic move is expected to enhance Netrio’s capabilities in cybersecurity and broaden its presence in the Northeast U.S. market. Financial terms of the deal have not been disclosed.
Agio is well-known for delivering specialized services to the financial services industry, which includes hedge funds, private equity firms, and investment bankers. With the acquisition, Netrio aims to integrate Agio’s proprietary AgioNow platform, a tool that utilizes generative AI to enhance IT service delivery and customer support. This integration is anticipated to offer more efficient solutions, reduce operational costs, and improve customer experience for Netrio’s extensive client base.
Mark Clayman, CEO of Netrio, emphasized the company’s commitment to staying ahead in the managed services market by differentiating its offerings and delivering enhanced value to customers. Netrio’s target market primarily consists of small and mid-market enterprises, particularly those with revenues of up to one billion dollars. The acquisition of Agio is expected to bolster Netrio’s capabilities, allowing for superior service delivery and a stronger competitive edge.
With the addition of Agio’s expertise, Netrio plans to tap into an expanded customer base in key areas, including New York City, northern New Jersey, and western Connecticut. The company has already established sales channels through a direct sales force operating in regions such as Minneapolis, Dallas, and Western New York, along with an agent business designed to enhance service delivery mechanisms.
Netrio, which currently serves over 1,000 customers and employs approximately 250 staff members across the U.S., has been on a growth trajectory by actively pursuing strategic acquisitions. Prior to Agio, Netrio’s expansion efforts included notable acquisitions such as Success Computer Consulting and PCA Technology Group. This ongoing strategy is supported by L Squared Capital Partners, a private equity firm that has been instrumental in facilitating Netrio’s growth and acquisition initiatives.
The managed services provider industry is characterized by significant competition, with leading players like ConnectWise dominating the market. However, Netrio believes that the innovative approaches implemented by Agio can play a crucial role in differentiating the company from its competitors. Following this acquisition, Netrio intends to identify further strategic acquisition opportunities that align with its goal of expanding its service offerings and capabilities.
As Netrio continues to evolve and enhance its service model, the acquisition of Agio marks a significant milestone in its journey towards optimizing IT services specifically tailored for the financial services sector. The incorporation of advanced technologies like generative AI through the AgioNow platform is set to catalyze further advancements in customer satisfaction and operational efficiency.
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Additional Resources
- PR Newswire: Netrio Expands National Footprint
- Wikipedia: Managed Service Provider
- CRN: Netrio Acquires Agio
- Google Search: Netrio Agio acquisition
- Dallas Innovates: Netrio Acquires Agio
- Encyclopedia Britannica: Managed IT Services
- ChannelE2E: Netrio Acquires Agio
- Google News: Netrio Agio
