CMIT Solutions Expands Portfolio with Acquisition of Velox Systems
Deal News | Feb 12, 2025 | Hammond Kennedy Whitney & Co I
CMIT Solutions, an enterprise-class IT service provider for SMEs, has announced the acquisition of Velox Systems, a managed service provider based in Central Oregon. This move aims to enhance CMIT's capabilities in offering advanced automation, cybersecurity solutions, and expertise in Cybersecurity Maturity Model Certification (CMMC) to businesses, particularly those in highly regulated sectors such as aerospace, healthcare, municipalities, and government contracting. The acquisition will facilitate the integration of Velox's automation tools to streamline IT operations and improve customer support. The leadership of Velox, including CEO Jordan Smith, will remain in place, contributing to a seamless transition. CMIT aims to leverage both Velox's and its own national resources to better serve clients and meet the rising demand for scalable IT solutions.
Sectors
- Information Technology Services
- Cybersecurity
Geography
- United States – CMIT Solutions operates nationwide across the U.S., and Velox Systems is based in Central Oregon, indicating a primary geographical focus in the U.S.
Industry
- Information Technology Services – The acquisition involves companies providing IT solutions and services, focusing on managed services, cybersecurity, and automation technologies.
- Cybersecurity – Both CMIT and Velox are enhancing their offerings related to cybersecurity solutions and compliance, key drivers for the acquisition's strategic value.
Financials
- Not disclosed – The financial terms of the acquisition between CMIT Solutions and Velox Systems were not made public.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CMIT Solutions | Acquirer | Company | A leading Managed Services Provider offering IT and cybersecurity solutions to small and medium-sized businesses. |
| Velox Systems | Target | Company | A Central Oregon-based managed service provider with expertise in automation and CMMC compliance. |
| Hammond Kennedy Whitney & Co. | Private Equity Firm | Company | PE firm associated with CMIT Solutions as part of its investment portfolio. |
| Jordan Smith | CEO of Velox Systems | Person | Led Velox Systems and remains onboard post-acquisition to ensure continuity. |