Autotask Passes Ownership of VARStreet Through Employee Buyout

By Nathan Eddy  |  Print this article Print

Autotask software manages critical business operations and processes for technology services-centric organizations.

Autotask, a provider of hosted IT business management solutions, announced that it has signed an agreement to transfer ownership of its VARStreet quoting and e-commerce product line, including all ongoing development, sales, hosting, implementation, support and billing, through an employee buyout. Autotask software manages critical business operations and processes for technology services-centric organizations, and its software-as-a-service (SaaS) platform is designed to be open.

The new company, VARStreet Inc., backed by private investors, will be led by VARStreet veterans Shankar Gopalan and Shiv Agarwal, who built VARStreet’s existing client base and customer relationships, and Vikas Bhir and his team, who have helped create, develop and support the VARStreet service since its inception. VARStreet is an SaaS-based suite of integrated e-commerce automation tools that combines real-time distributor pricing with quoting and an optional electronic storefront. The service is designed to provide a scalable way for technology solutions providers to simplify and streamline how they source, quote, procure, sell and deliver IT products and services.

The sale was structured to ensure that current users see no change in their VARStreet service, catalogs, add-ons or customizations, and user data will not be moved or at risk during the transition. Ongoing support, implementation and development activities will proceed without interruption as the VARStreet team remains in place, the company said.

Autotask’s open architecture software allows users to access it through any browser or mobile device, to support optimization and automation of clients’ existing workflows and to integrate the other tools and systems clients use to service their clients, as well as IT and other technology solution providers around the world.

"The decision to divest from VARStreet was not an easy one, but I am confident it was the right one for VARStreet users, for the VARStreet team and for Autotask Corporation," said Mark Cattini, Autotask president and CEO.  "Autotask’s strategic goal is to remain open, especially to the tools our global clients use to service their customers, and the ongoing development and support of VARStreet is outside of our core focus. Therefore, we believe our users will be better served with VARStreet as an independent company, focused exclusively on the VARStreet product suite."

Shiv Agarwal, vice president of VARStreet, said the company is committed to providing the best service and support to their customers and will continue to invest and enhance the platform’s capability going forward to meet their customer requirements.