Managed services provider Vertilocity, an HBK company, has entered into a definitive merger agreement with Odyssey Software.
Odyssey, based in Pine, sells, deploys and supports cloud-based business systems for financial, human capital, and budget and planning management.
Odyssey’s core software products include cloud-based Acumatica, UKG and Questica Budgeting. The company’s primary focus has been on behavioral health and human services, but it also operates in commercial markets, including wholesale distribution, professional services and construction.
Founded in 1993, Odyssey currently has 17 employees in Pine, eastern Pennsylvania, Arkansas and Texas, serving more than 200 customers in multiple states.
“I’m excited about what this merger brings to our team and to both firms’ customers,” said Bruce Nelson, president of Vertilocity. “Our collective expertise, along with the financial services HBK offers, together form a unique, comprehensive and highly valuable offering for our current and future clients.”
Founded in 1949, HBK is a multidisciplinary financial services company serving clients ranging from individuals to small businesses to multimillion-dollar companies in the United States.
“I’ve known and respected Bruce for nearly two decades,” Mike Dorsey, president of Odyssey Software, said of Nelson. “He is honest and ethical, does things the right way, and that was a major factor in our decision to merge with Vertilocity. But this is also an extraordinarily good fit. We are incredibly complementary. None of us is in conflict with the other, and customers looking at one of us are probably looking for the other too.
“The merger gives us a much broader range of services to help our customers make the transition to the virtual or managed IT world. Being a part of HBK also means more opportunities, including a huge HBK customer base to which we can offer our services, and more strength in terms of financial resources, enabling us to serve larger organizations.”
The combined companies will operate as Vertilocity, itself the product of an August 2021 merger between Vertical Solutions and HBK IT. Vertilocity operates from HBK offices in Pittsburgh and Clark, NJ, and the Denver area.
The company was one of the first players in managed services, offering a wide range of IT-related services and support, including proactive managed IT support, advanced threat protection, Office 365 management and support, technology tools and software designed to support the organization’s specific processes and hardware procurement and installation.
“Digital technology is the most impactful disrupter in business today,” said Christopher Allegretti, HBK managing principal and chief executive officer. “Businesses everywhere and in every industry are embracing digital transformation. Our merger with Odyssey represents our continued commitment to providing relevant, cutting-edge technology support to our customers by adding a new powerful group of solutions to our managed services offering.”