On the 27th of June, 2024, Lyra Technology Group, a consortium of managed service providers (MSPs) backed by Evergreen, made the announcement of its acquisition of DKBinnovative, an IT provider based in Texas. This strategic move is intended to facilitate DKBinnovative’s expansion of its customer base and to strengthen its presence in the Southern region of the United States.
According to Elliott Hyman, CEO of Lyra Technology Group, the acquisition serves as a testament to DKBinnovative’s exceptional values and principles that have been deeply embedded into the company’s culture and service. Hyman expressed his enthusiasm in providing support to DKBinnovative’s team and clients as they embark on the next phase of growth, solidifying their position as a leading managed service provider in Texas.
As part of the acquisition, Keith Barthold, the founder of DKBinnovative, will assume the role of chairman, while former Chief Revenue Officer Chris Scott will step into the position of CEO. Scott has conveyed his excitement in leading the talented team known for their cybersecurity innovations and unwavering commitment to client success.
Both Lyra Technology Group and DKBinnovative have been recognised in the 2024 Channel Futures MSP 501 list, which showcases the world’s top managed service providers. DKBinnovative secured the 82nd spot, while Lyra Technology Group ranked at No. 270, highlighting the collective expertise and capabilities of the new alliance.
This acquisition marks a significant milestone for both Lyra Technology Group and DKBinnovative, fostering enhanced collaboration and opportunities for growth in the dynamic landscape of managed IT services. With Lyra’s support, DKBinnovative is poised to build on its foundation of excellence and expand its reach, while contributing to the collective success of the Evergreen-backed MSPs.
In conclusion, the acquisition of DKBinnovative by Lyra Technology Group exemplifies a strategic union of two industry leaders, each bringing unique strengths and capabilities to the table. This merger not only reinforces their positions on a global scale but also signifies a shared commitment to delivering exceptional managed IT services. The future looks promising for this newly formed partnership, and the industry can anticipate witnessing remarkable advancements and innovations from this collaboration in the time ahead.