ConnectWise CEO Whiplash: Looking to Buy AutoTask or Not?
The PSA market is never dull. It's filled with a crowded cast of players constantly flexing their muscles to show dominance in the market. Like this week, when ConnectWise acquired the PSA assetsand customersof CoreConnex in a long-rumored deal that will allow CoreConnex to focus on its financial dashboard business.
The muscle-flexing piece is not the news itself. Instead, it comes in the form of a quote from ConnectWise CEO Arnie Bellini in the press release that ConnectWise put out announcing the deal. It reads:
"Despite the most challenging economic times in recent memory, ConnectWise has grown exponentially in the past few quarters. Acquisitions that add to our market share, community, knowledge and support network make good business sense for us at this time," said Arnie Bellini, ConnectWise CEO. "CoreConnex offers technology, business and human resources that will bring value to ConnectWise users and their bottom lines and we will continue to investigate other potential acquisitions, including companies like AutoTask." Investigate other potential acquisitions, including companies like AutoTask. You don't say? In an interview with Channel Insider today, I asked ConnectWise COO Santo Cannone about the AutoTask portion of Bellini's quote. He laughed it off as Arnie being Arnie, then said no "active talks" to acquire AutoTask are under way.
Is this just a case of the mouth getting ahead of itself? It will be interesting to see what AutoTask CEO Bob GodGart will have to say about the matter. Frankly, it's hard to keep track of all the potential buyouts each one of these players keeps touting in the endless talks about PSA market consolidation.
What are you hearing? Do ConnectWise and AutoTask make a good fit?