WILMINGTON- SSD Technology Partnersone of Delaware’s oldest and most recognized IT support service providers, was recently acquired by a New York-based company expanding its regional footprint.
Led by owners Lisa Detwiler and Woodie Bowe, SSD employs nearly 80 people and is headquartered at the Shipyard Center in Wilmington’s Riverfront. It is the third largest computer consulting firm in the state, according to research by Delaware Business Times.
Founded in 1983 as Software Services of Delaware, the company initially helped small businesses migrate to computerized systems. In 2005, it changed its name to reflect its diverse services, including software development, technology consulting, and support services for small and medium-sized businesses in the tri-state area.
Over the past two decades, SSD has been honored with a number of prestigious state awards, including Delaware Small Business Administration Small Business Persons of the Year, State Chamber Marvin S. Gilman Superstars in Business, and State Better Business Office Torch Award for Marketplace. Ethics.
On July 21, SSD announced that it had been acquired by Source code, a fast-growing managed services provider that has acquired a coalition of small businesses since its inception 18 months ago. Terms of the all-cash deal were not disclosed.
Today, Sourcepass employs over 300 people and has total revenue of over $50 million. Detwiler and Bowe would remain after the acquisition. The integration of the companies is expected to be completed by September 1. Attempts to contact SSD management about the deal were unsuccessful.
“We always go above and beyond for our customers, and now we’re excited to offer them the industry-leading digital services platform and 24/7 support services provided by Sourcepass,” said Woodie Bowe. , vice president of SSD, in a statement announcing the deal.
Sourcepass is looking to grow its customer base by strategically focusing on the small and medium-sized businesses that were SSD’s specialty – it has over 200 existing customers in Delaware, Maryland, New Jersey and Pennsylvania. The agreement will further expand Sourcepass’ offerings and capabilities in the legal, healthcare and financial services sectors.
“In line with our goal to be the leading Managed Service Provider (MSP) for SMBs, we are always looking for partner companies who enhance and extend the services we provide, and who share our core mission of providing computing experience that customers love,” said Chuck Canton, CEO and Founder of Sourcepass, in a statement.
The deal for SSD was announced alongside the acquisition of New York-based company Total Technology Solutions. It will operate as a subsidiary of Sourcepass and will also retain its leadership under a cash and equity deal.