HBK’s Vertilocity Announces Merger with Odyssey Software
CANFIELD, Ohio — Managed services provider Vertilocity, an HBK company, has entered into a definitive merger agreement with Odyssey Software. Based in Wexford, Pa., Odyssey sells, implements, and supports cloud-based financial, human capital, and budget and planning management business systems.
Odyssey’s core software products include cloud-based Acumatica, Kronos Workforce Ready, and QuesticaBudgeting. The firm’s primary focus has been on behavioral healthcare and human services, but it is also active in commercial markets, including wholesale distribution, professional services, and construction. Founded in Pittsburgh in 1993, Odyssey currently employs 17 in Wexford, eastern Pennsylvania, Arkansas, and Texas, and serves more than 200 clients in multiple states throughout the U.S.
“I’m excited about what this merger brings to our team and the clients of both firms,” noted Bruce Nelson, president of Vertilocity. “Our collective expertise along with the financial services offered by HBK combine for a unique, comprehensive and extremely valuable offering to our current and future clients.”
“I have known and respected Bruce for nearly two decades,” Odyssey Software President Mike Dorsey said. “This is also an extraordinarily good fit. We are incredibly complementary. Nothing either of us does conflicts with the other, and clients looking at one of us are also likely looking for the other.”
The merger provides Odyssey with a broader range of services to help its clients move into the virtual or managed IT world, Dorsey added. “Being part of HBK means greater opportunity, including an enormous HBK customer base we can offer our services to, and greater strength in terms of financial resources, which will allow us to serve larger organizations.”
The combined firms will operate as Vertilocity, the company that was formed after an August 2021 merger between Vertical Solutions and HBK IT.
Vertilocity operates out of HBK offices in Pittsburgh and Clark, New Jersey, and in the Denver, Colorado area. The firm was among the earliest entries in the field of managed services, and offers a vast array of IT-related services and support, including proactive managed IT support, advanced threat protection, Office 365 management and support, technological tools and software designed to address 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, HBK managing principal and CEO. “Everywhere and in every industry, companies are embracing digital transformation. Our merger with Odyssey represents our ongoing commitment to delivering relevant, sophisticated technological support to our clients by adding another powerful group of solutions to our managed services offering.”
Published by The Business Journal, Youngstown, Ohio.