Tech Firm Marco Acquires Another Telecom Co.
Marco, Inc., recently announced that it has continued its acquisition spree with the purchase of data and telecommunications company Hyde Telecom Partners, Inc.
Financial terms of the acquisition, which closed Thursday, were not disclosed. The deal will allow St. Cloud-based Marco to expand its core business offerings—including company network and software management, IT support, and print services—in Iowa, the company said. Urbandale, Iowa-based Hyde Telecom, which was founded in 2000, specializes in telecommunication products and services.
Marco said that the acquisition will expand both its services and its client base. Hyde Telecom’s Urbandale and Cedar Rapids, Iowa, offices will merge with Marco’s existing Iowa offices. Marco currently has a total of 650 employees and will retain all 10 of Hyde Telecom’s workers. Hyde Telecom will now operate under the Marco brand.
“We look forward to continuing Hyde Telecom’s commitment to satisfying clients in the state of Iowa and providing opportunities for their valued employees,” Marco CEO Jeff Gau said in a statement. “Our plan will be to expand our expertise and service offerings to provide even more innovative technology service and support.”
Marco’s services include data networking, voice communications, print solutions, and document management, among others. The company’s revenue totaled $111 million in 2012.
Hyde Telecom reported $2 million in revenue for 2012. A Marco spokeswoman told Twin Cities Business that the acquisition is expected to help Marco reach $145 million in revenue for 2013.
The Hyde Telecom deal is the latest in a series of acquisitions; in fact, Marco has made six acquisitions in the past nine months. For example, Marco acquired South Dakota-based voice communications and data networking company TelServ Communications, Inc., in August. In December, the company purchased Iowa-based printing company Mason City Business Systems, Inc. And in January, Marco added two more copy and printing service companies: North Dakota-based Midwest Business Systems and Iowa-based Midwest Office Automations, Inc.
Marco operates 34 offices in Minnesota, Wisconsin, North Dakota, South Dakota, and Iowa.