IT service provider Groupe Access has acquired Tenet Computer Group Inc.’s VAR business for an undisclosed sum, splitting the company into two.
Under the agreement, Markham, ON-based Tenet will continue to operate with its own brand, despite ownership of its VAR unit being transferred onto Montreal-based Groupe Access.
Meanwhile, Tenet’s ISV software business unit was spun off and incorporated in March under Techmien Corp.
The new company is headed by Tenet founder and former CEO Carlos Paz-Soldan, who left Tenet back in February after running it for almost 11 years.
According to Groupe, its team combined with that of Tenet will total 100 employees, and lead to sales of more than $30 million.
“Groupe Access has long sought to further expand into the Ontario market,” Doug Elie, president of Groupe Access said in a statement. The company, founded in 1993, has a second office also in Markham, ON.
Tenet ranked No. 96 on CDN’s Top 100 Solution Providers list for 2015, with revenue ranging between $5-$10M.