|Net@Work Wins Small Business Award from The New York Enterprise Report
Net@Work recognized in the Mergers and Acquisitions Category at The Small Business Awards 2008
New York (October 07, 2008) - Net@Work, a leading provider of integrated business technology solutions, today announced that it won a Small Business Award from the New York Enterprise Report in the “Mergers and Acquisitions” category. The third annual event recognized Net@Work for its systematic approach to mergers and acquisitions and the success the company has had in seamlessly integrating several organizations over the past year.
Net@Work’s rapid growth has been both organic and, to a significant degree, fostered through strategic acquisitions—a total of seven in just over three years. While anywhere from 50 to 80% of acquisitions fail, Net@Work has adhered to a “best practices” approach in identifying acquisition targets and in bringing them seamlessly into the fold. As a growing business, Net@Work looks for companies that can strengthen specific departments. The company’s key acquisitions can be viewed as another means of organic growth to the extent that the products and services they add are ones that their clients need or will soon need.
“The award is a great honor and a validation of our approach to mergers and acquisitions,” said Alex Solomon, co-president of Net@Work. “We have rigorous criteria in identifying an acquisition prospect: the company must be ‘best of breed’ and a top competitor in a specific area, have only one or two ‘products’ in the marketplace without overlapping other core business practices and areas, it must be profitable and offer an attractive talent pool, the owner has to be willing to join the combined entity for at least a transitional time period, and the company must have reference-able clients. Our ability to smoothly transition the influx of new talent into our dynamic, entrepreneurial culture is ultimately the key to our success—and in our ability to offer an ever-broader range of clients with more expertise while continuing to provide them with the level of attention and service they’ve come to expect from Net@Work.”
The company’s growth over the course of the past year was largely spurred by several successful strategic acquisitions, expanding the company’s customer base, increasing its breadth of customized, real-world solutions, while furthering its reputation for responsive support. In addition to expanding Net@Work’s talent pool, these acquisitions enabled the company to further establish a strong “on the ground” presence across the Northeast. Building on the previous year’s momentum, Net@Work recently acquired Integral Computer Services and Brian Shube Consulting, both featuring broad-based SAGE expertise, making Net@Work an even deeper, more versatile, and agile organization, providing customers with the fullest array of “on call” expertise for all their critical business needs. Net@Work has added offices in key cities such as Rochester, keeping the company closer to its customers and on top of their most critical business and technology issues.