CANFIELD, Ohio — Managed services provider Vertilocity, an HBK company, has entered into a definitive merger agreement with Odyssey Software. Odyssey, based in Wexford, Pennsylvania, 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, Kronos Workforce Ready and QuesticaBudgeting. 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 Pittsburgh in 1993, Odyssey currently has 17 employees in Wexford, eastern Pennsylvania, Arkansas, and Texas, serving more than 200 customers in multiple states across the U.S.
“I’m excited about what this merger brings to our team and to the customers of both firms,” said Bruce Nelson, president of Vertilocity. “Our collective expertise together with the financial services offered by HBK combine to create a unique, comprehensive and highly valuable offering for our current and future clients.”
“I’ve known and respected Bruce for nearly two decades,” said Odyssey Software President Mike Dorsey. “This is also an extremely 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 will provide Odyssey with a wider range of services to help its customers transition into the virtual or managed IT world, Dorsey added. “Being part of HBK 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 businesses will operate as Vertilocity, the company created following an August 2021 merger between Vertical Solutions and HBK IT.
Vertilocity operates from HBK offices in Pittsburgh and Clark, New Jersey, and the Denver, Colorado 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 facilitate an organization’s specific processes and hardware procurement and installation.
“Digital technology is the most impactful disrupter in business today,” said Christopher M. Allegretti, CPA, managing principal and CEO of HBK. “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.”
Published by The Business Journal, Youngstown, Ohio.