CBIZ acquires CompuData to expand technology solutions portfolio
In a strategic move to bolster its suite of services, CBIZ, Inc. (NYSE: CBZ), a prominent provider of financial, insurance, and advisory services, has officially announced its acquisition of CompuData, Inc., a leading technology solutions provider based in Philadelphia, PA, as of March 1, 2024. The acquisition price, though not disclosed, marks a significant step for CBIZ in expanding its technology solutions capabilities, aiming to meet the growing demand across the United States for the specialized services that CompuData offers.
Established in 1971, CompuData has carved out a niche as a premier technology solutions provider catering to small and midsize organizations. The company specializes in cloud computing, accounting ERP software, managed IT, and security services, helping clients scale, protect, and streamline their operations. With prestigious designations such as the Sage Diamond Partner and Microsoft Partner in Azure Cloud and Modern Work, CompuData brings valuable expertise and certifications to the table. The firm boasts a strong workforce of 60 employees and generates approximately $20 million in annual revenue, indicating its solid market presence and operational success.
Jerry Grisko, President and CEO of CBIZ, expressed his enthusiasm about the acquisition, citing CompuData’s impressive reputation and the high demand for its services across the country. Grisko highlighted the alignment of values between the two companies, particularly their shared dedication to client success and the delivery of essential solutions.
Angela Nadeau, President and CEO of CompuData, also shared her optimism about joining forces with CBIZ. She emphasized the synergy between the two companies’ industry verticals, including financial services, construction, manufacturing, distribution, and technology. Nadeau anticipates the partnership will bring mutual benefits to both companies’ employees and clients.
The acquisition of CompuData by CBIZ represents a significant milestone in the financial and technology solutions industry, signifying CBIZ’s commitment to expanding its service offerings and addressing the evolving needs of its clients. This strategic partnership is expected to enhance CBIZ’s capabilities in providing cutting-edge technology solutions while offering CompuData the support and resources of a nationally recognized firm. The collaboration between CBIZ and CompuData is poised to create a more comprehensive suite of services for clients across various sectors, driving innovation and success in their operations.