In a strategic move to bolster its portfolio, Net at Work has announced the acquisition of PMO Solutions, a Newport Beach, California-based value-added reseller (VAR) specializing in Sage Intacct, Sage 100, and Sage X3 software. This acquisition comes on the heels of Net at Work’s recent growth investment from Lovell Minnick Partners and its earlier acquisition of Acumatica VAR NexVue.
Background: The Lovell Minnick Investment
On September 19, 2023, Net at Work secured a growth investment from Lovell Minnick Partners, a private equity firm focusing on financial services, business services, and fintech. The investment aims to accelerate Net at Work’s organic growth and acquisition strategy. The transaction terms were not disclosed, but the partnership is expected to provide significant capital for Net at Work to pursue further acquisitions and growth investments.
The Acquisition of PMO Solutions
Announced on October 13, 2023, the acquisition of PMO Solutions adds to Net at Work’s expanding portfolio. PMO Solutions, founded in 2015, has addressed the need for ERP and project management within the Sage ecosystem. The company offers Sage enterprise resource planning (ERP) products, including Sage x3, Sage Intacct, and Sage 100.
Customers of PMO Solutions will now have access to Net at Work’s resources, solutions, and technical expertise. Dr. James Ramon Gibson, President and CEO of PMO Solutions, expressed that the union made “perfect sense” given both companies’ dedication to customer experience and business transformation.
The acquisition likely aligns well with Net at Work’s Digital Operations Platform (DOP) approach, which aims to technologically support all aspects of a business to drive efficiency, productivity, and profitability. The DOP approach is characterized by its flexible structure, Artificial Intelligence (AI) technology, and accessibility for interactions beyond the browser.
This acquisition marks Net at Work’s second in quick succession, following its acquisition of Acumatica VAR NexVue on October 5, 2023. The company appears to be on a fast track for growth, fueled by strategic investments and acquisitions. It will be interesting to see what’s ahead and how these moves position Net at Work in the competitive landscape of technology solutions for small and medium-sized businesses.