The deal is an all cash transaction and it’s expected to close shortly.
Zentra is a privately held solution provider who also has offices in Ottawa area. In the past two decades, Zentra has built a healthy government and enterprise practice specifically in data storage and server virtualization.
The Herjavec Group placed No. 23 on the CDN Top 100 list with revenues between $50 and $75 million, while Zentra came in at No. 28. Conceivably, The Herjavec Group, if you combine the two revenue figures, would vault into the top 15.
Zentra has a staff of about 65 spread over five offices. Last year, Zentra made a big splash with its acquisition of security specialist Accuetrust.
Accuetrust and Zentra will both be wholly integrated within The Herjavec Group and going forward will be known as a single, focused brand.
Scott Wagner, founder and CEO of Zentra, said there is tremendous integration opportunity and value to its employees and customers with this acquisition.
According to The Herjavec Group, Wagner will work through the transition but will leave after the integration is complete.
Robert Herjavec, founder and CEO of the company, thanked Wagner for building a solid, professional company over the last 20 years. “On a combined basis we are now a $125 million powerhouse integrator with over 175 employees. This acquisition will provide tremendous value and service to our customers in an area that requires solid solutions for a complex and ever changing world,” Herjavec added.
With Zentra, The Herjavec Group now has offices in Quebec City, Montreal, Ottawa, Toronto, Calgary, Vancouver, and New York and should be considered a national player in the channel. Herjavec, who is also a star on the hit CBC TV show Dragon’s Den, founded the company less than 10 years ago and captured the Newcomer of the Year award at the 2008 CDN Top 100 event.
“This is an incredible milestone that very few companies in Canada ever reach – especially in our timeframe. I am extremely proud of this achievement and the incredible team we have been able to build in order to get here,” Herjavec said.