Logically MSP acquisition grows geographic reach, MSFT skills
The managed services transaction fuels growth for Logically, which is also expanding through strategic consulting services and cybersecurity offerings.
Logically, an MSP with headquarters in Portland, Maine, continued to expand its national footprint with the acquisition of Cornerstone IT, its eleventh deal since 2019 and its second purchase in Ohio.
The purchase of Cornerstone IT, announced Wednesday, provides an office location in the Cleveland suburb of Mentor, Ohio, and access to additional Microsoft skills. Cornerstone IT is a Microsoft Gold Certified Partner, as is Logically. The acquired firm also contributes a focus on vertical markets including manufacturing, construction/development, insurance and professional services.
At Logically, MSP acquisitions -- combined with organic growth -- have helped the company surpass the $100 million revenue mark. Logically launched in 2019, following the merger of Winxnet and K&R Network Solutions.
Regional, national presence
With the Cornerstone IT acquisition, Logically bolsters its regional presence in the Midwest. In March 2021, Logically purchased Cerdant, a managed security services provider based in Dublin, Ohio. But while Cornerstone IT offers another regional outpost, the company also has some large customers with facilities across the U.S., said Michelle Accardi, CEO of Logically.
In the Microsoft technology stack, meanwhile, Cornerstone IT provides skills in cloud transformation and Azure, Accardi added. Cornerstone IT also offers services around Microsoft's Office 365, Teams and Power BI products. Logically supports Azure and Office 365, among other cloud technologies.
Another area of commonality is cybersecurity. Logically's security offerings include a security operations center, endpoint security and vulnerability assessment services. Cornerstone IT provides risk management services, including threat detection, security assessment and penetration testing.
"Given our cybersecurity footprint and some of their [Cornerstone IT's] physical security customers, we believe that there's additional partnership capabilities within that as well," Accardi said.
Accardi said Logically's growth trajectory benefits from the challenges that businesses face maintaining IT talent and dealing with security issues. An MSP can provide IT capabilities at a more affordable price than a business "trying to build it all in-house," she said.
Michelle AccardiCEO, Logically
Services in demand include strategic consulting. "We're doing a ton of vCIO, vCISO engagements," Accardi said. "If they don't have that talent internally, they need managed service providers who can provide that." Logically can also executive IT strategies for companies lacking in-house capabilities, Accardi added.
Gartner's global IT services forecast suggested MSPs will find opportunities providing high-end services such as cloud strategy and business transformation. And MSPs identified vCIO services as one of four key trends to watch in 2022 as customers seek help with digital transformation.
IT security provides an additional organic growth driver for Logically. "Cybersecurity continues to be a very hot area, with what's happening around the globe," Accardi said "Cyber attacks have gone up [and] you see the U.S. government even warning about the need for companies and businesses to be hypervigilant."
Logically provides security services directly to customers and through channel partners such as agents and smaller MSPs. Those companies "can offer our cybersecurity solutions through to their customers in partnership with us," Accardi said.