Improving Acquires Data and Cloud Software Development Services Company Bit Quill
This is technology M&A deal number 906 that ChannelE2E has covered so far in 2022. Discover over 2,000 technology M&A deals involving MSPs, MSSPs and IT service providers listed here.
Bit Quill, founded in 2017, is based in Vancouver, British Columbia. The company has 54 employees listed on LinkedIn. Bit Quill’s areas of expertise include software services, NoSQL, SaaS, and Big Data.
The transaction is expected to increase Improving’s annualized revenue to more than $250 million and further expand its geographic reach in the Canadian market, according to the company. Enhancement’s annualized revenue was approximately $200 million in March 2022.
Bit Quill’s management team will remain intact, the company said.
Improvement Acquires Bit Quill: Management Insights
Curtis Hite, CEO of Improvement, said:
“There is an apparent alignment between our two companies. From the start, we were impressed with the Bit Quill team and their commitment to building strong customer relationships and cultivating a strong company culture.
Kyle Porter, CEO and co-founder of Bit Quill, said:
“I am extremely thrilled that we have found such an incredible partner in Improving. It is rare to find an organization that is already so aligned with your own core values. to be able to leverage their resources and years of experience to continue to serve and develop services for both our employees and our customers.
Improve the M&A experience
Private equity firm Trinity Hunt Partners has owned Improving since July 2018. For its part, Improving has M&A experience dating back to 2007. Sample deals:
- March 2022: YoppWorks, an app development consultancy with expertise on Google Cloud and Lightbend.
- August 2021: Tahoe Partners, a Microsoft professional services firm, in August 2021. This particular deal pushed Improving’s annual revenue to around $185 million.
- August 2020: Object Partners, an Amazon Web Services custom software developer. This deal brought annual revenue to $150 million.
- August 2017: ProSource Solutions, a Microsoft partner that was expected to increase Improving’s annual revenue by more than $10 million in 2018.
- August 2017: The Willow Band from Minneapolis, Minnesota.
- December 2013: Quadras Development of Calgary, Canada.
- September 2012: Alphaware Training Center in Houston, TX.
- December 2010: The Sophic Group, a Microsoft partner in Columbus, Ohio.
- January 2007: Blue Ocean Group and Improving Enterprises merged.