HBK’s Vertilocity Announces Merger With Odyssey Software
CANFIELD, Ohio — Managed services provider Vertilocity, an HBK company, has entered into a definitive merger agreement with Odyssey Software. Based in Wexford, Pennsylvania, Odyssey sells, implements and supports cloud-based business financial management, human capital, budgeting and planning systems.
Odyssey’s core software products include cloud-based Acumatica, Kronos Workforce Ready, and QuesticaBudgeting. The company has primarily focused on behavioral healthcare and human services, but is also active in commercial markets including wholesale distribution, professional services and construction. Founded in Pittsburgh in 1993, Odyssey currently employs 17 people in Wexford, eastern Pennsylvania, Arkansas and Texas, and serves more than 200 customers in multiple states across the United States.
“I am thrilled with what this merger brings to our team and the customers of both companies,” said Bruce Nelson, President of Vertilocity. “Our collective expertise along with the financial services offered by HBK combine for a unique, comprehensive and extremely valuable offering for our current and future clients.”
“I have known and respected Bruce for nearly two decades,” said Mike Dorsey, president of Odyssey Software. “It’s also an extraordinarily good fit. We’re incredibly complementary. Nothing we do conflicts with each other, and customers looking at one of us are likely looking for the other.
The merger gives Odyssey a broader range of services to help its customers move into the virtual or managed computing world, Dorsey added. “Being part of HBK means greater opportunity, including a huge HBK customer base that we can serve, and greater strength in terms of financial resources, which will allow us to serve larger organizations.”
The combined businesses will operate as Vertilocity, the company that was formed after an August 2021 merger between Vertical Solutions and HBK IT.
Vertilocity operates from HBK’s offices in Pittsburgh and Clark, New Jersey, and the Denver, Colorado area. The company was an early entry into the managed services space and offers a wide range of IT-related services and support, including proactive managed IT support, advanced threat protection, management and Office 365 support, technology tools and software designed to meet an organization’s specific processes, as well as hardware procurement and installation.
“Digital technology is the single most impactful disruptor in business today,” said Christopher M. Allegretti, CPA, Managing Director and CEO of HBK. “Everywhere and in every industry, businesses are embracing digital transformation. Our merger with Odyssey represents our continued commitment to providing relevant and sophisticated technology support to our customers by adding another powerful group of solutions to our managed services offering.
Published by The Business Journal, Youngstown, Ohio.