Fully Managed Acquisition: Key Details, Impact, and What Comes Next

TELUS's acquisition of Fully Managed marks a significant move in the IT services sector. This $137 million deal aims to bolster TELUS's managed services portfolio, leveraging Fully Managed's expertise in cloud-based software and remote network monitoring. The acquisition is poised to enhance TELUS's IT support and technology strategy, positioning it strongly in the growing managed services market.

What Is Fully Managed?

Fully Managed, founded in 2002, specializes in comprehensive IT services including 24/7 support, cybersecurity, technology strategy, and cloud migration. Their unique selling points include round-the-clock access to IT specialists, a multi-layered cybersecurity approach, and tailored technology strategies. Additionally, they offer Virtual CIO services to help businesses develop strategic IT roadmaps. Fully Managed stands out for its proactive IT management, ensuring reduced downtime and improved efficiency for its clients.

Who Acquired Fully Managed?

TELUS is a leading telecommunications company in Canada, offering a diverse range of services such as mobile phone plans, high-speed internet, TV and entertainment packages, home security, and health services. Known for its reliable network and exceptional customer service, TELUS holds a strong market position. The company is recognized for its innovative offerings like PureFibre Gigabit Internet and Optik TV, as well as its commitment to social impact and community initiatives.

When Was Fully Managed Acquired?

TELUS acquired Fully Managed on February 10, 2022. This acquisition came at a time when the demand for managed IT services was surging, driven by the pandemic-induced shift to remote work. Fully Managed had been exploring strategic growth alternatives, and joining forces with TELUS provided access to extensive resources and expertise. This move aligns with industry trends where companies are increasingly seeking robust IT solutions to navigate the digital-first work environment.

Why Was Fully Managed Acquired?

• Market Expansion: The acquisition of Fully Managed by TELUS is a strategic move to accelerate growth and help achieve the goal of becoming the #1 managed service provider (MSP) in North America. Fully Managed has already expanded across Canada by acquiring companies in British Columbia, Alberta, and southern Ontario, serving over 2,000 customers across North America.
• Technology Integration: Fully Managed specializes in cloud-based software and remote network monitoring technology, which allows them to assist customers without requiring on-site support. By joining TELUS, Fully Managed gains access to a vast range of resources, world-leading products, networks, and technical expertise, enhancing their technological capabilities and service offerings.
• Competitive Advantage: The acquisition provides Fully Managed with access to TELUS's extensive resources and expertise, which is expected to enhance their service offerings and market position. TELUS's global presence and annual revenues of over $14 billion provide a strong backing for Fully Managed's growth ambitions, allowing them to better serve customers and lead in the digital decade ahead.

Acquisition Terms

• Acquisition Price: $137 million
• Payment Method: The payment method was not publicly disclosed.
• Key Conditions or Agreements:
  • Fully Managed will become part of the TELUS Business Solutions family.
  • The acquisition aims to help Fully Managed continue its vision of becoming the #1 Managed Service Provider (MSP) in North America.
  • The acquisition provides Fully Managed and its customers with access to TELUS's vast range of resources, world-leading products, networks, leadership talent, and technical expertise.
  • The cultural fit between TELUS's customer-first philosophy and Fully Managed's team is emphasized.

Impact on Fully Managed

The acquisition of Fully Managed by TELUS has led to significant changes in operations and management. Fully Managed is now part of the TELUS Business Solutions family, gaining access to TELUS's extensive resources, products, networks, and technical expertise. This integration is expected to streamline operations and enhance management capabilities, aligning with TELUS's customer-first philosophy. The leadership at Fully Managed, including CEO Mark Scott, has expressed optimism about the cultural fit and the strategic growth opportunities this acquisition brings.

In terms of product offerings and services, the acquisition has bolstered Fully Managed's ability to provide comprehensive managed IT services, cybersecurity, and cloud solutions. Customers can expect enhanced service quality and expertise, benefiting from TELUS's robust infrastructure and innovative technology. Employee reactions have been positive, with the team looking forward to the new opportunities and resources available. Customers have also shown enthusiasm, anticipating improved service and support. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly and efficiently.