Contingent Network Services, a global technology services company, today announced the acquisition of Tampa-based IVANS Network Services, a non-healthcare business unit of Minneapolis-based ABILITY Network Inc.
The newly acquired business unit will operate as a wholly-owned subsidiary of Contingent under the name IVANS Network Services, a Contingent company. All employees at IVANS Network Services will join the combined firm and remain in Tampa. Revenue for the privately-held firm is expected to exceed $50 million annually.
The acquisition was financed by PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. Terms of the transaction were not released.
"The IVANS culture, capability and client portfolio directly align with Contingent's high-growth WAN managed services business," said Mark Stuhlreyer, president and CEO at Contingent. "While many traditional competitors are struggling with status quo approaches and often exit this business, we are increasing our commitment to delivering the highest quality network services available in the market."
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