Wednesday, April 25, 2018
Business

Vology-Bayshore deal high in enthusiasm and promise of jobs

It may not be the biggest business merger in Tampa Bay history or the sexiest. But the recent deal that combines two area technology firms — Vology of Oldsmar and Bayshore Technologies of Tampa — is a good-news story for this new year on several levels.

First and foremost, the deal melds two growing tech firms founded right here into one bigger business still based here — a rare event in itself — that promises to become larger than the sum of its parts. This is an opportunity for organic growth, not recruited from afar.

Second, the deal is already prompting a new search by the merged firm, to be known as Vology, for a new area headquarters big enough to accommodate its 200-plus employees and its anticipated growth in the coming years. The old Vology had maxed out its Oldsmar space in several buildings with 165 employees and cannot absorb Bayshore Technologies' 48-person team. Third, the new Vology starts off with an expected $170 million in annual revenues but expects to expand swiftly. While forecasting an additional 100 new jobs by 2015, the company also anticipates 50 percent sales growth within the next three or four years.

Vology CEO Barry Shevlin and Bayshore Technologies CEO Peter Anderson (who now becomes a Vology senior vice president and will run Bayshore as a service division of Vology) talked to the Tampa Bay Times this week to explain how this deal came about and what lies ahead. Here's my take on what the duo shared in that interview.

How did that deal come about?

John Hill of Tampa's Hyde Park Capital Advisors suggested Shevlin and Anderson get together. The more the two tech CEOs talked, the more they realized how much their businesses complemented each other. That led to a deal that began to be put together in September and officially closed in the last days of 2012. The CEOs brought the employees of both companies together in the ballroom at Ruth Eckerd Hall last Wednesday to explain the deal and lay out their vision for the new business. A bonus: There are no layoffs in this merger.

So what can the new Vology do that the two firms could not do on their own?

Alone, Vology provided business customers nationwide with new and certified pre-owned network switches and routers and telecommunications sales and services. Bayshore supplied mostly Florida business clients with IT infrastructure support, including servers and data storage. Vology wanted to add Bayshore's skills to its service menu, and Bayshore wanted Vology's national sales muscle. Presto. Instant synergy with 8,000 combined customers.

Now that Vology is a bigger and broader provider of IT services, who will it compete against?

In industry jargon, Vology is now a "hybrid super VAR" or value-added reseller on a national scale. There are maybe 12 to 15 such firms of national size. The biggest competitors are companies like CDW ($10 billion in sales, 7,000 employees). Vology says it is second in size in Florida to Mainline Information Systems in Tallahassee.

Vology aims to add as many as 100 jobs in the next two years. What kinds of jobs are we talking about?

All kinds. It will need more account executives, engineers, people in its operations center and in finance. But this is only week one. Shevlin and Anderson want to take their time and integrate the businesses the right way. Both are committed to this area.

Says Shevlin: "This will be a fantastic journey."

Contact Robert Trigaux at [email protected]

Comments
Yelp search results reflect racist stereotype that Asian restaurants serve cat and dog

Yelp search results reflect racist stereotype that Asian restaurants serve cat and dog

A strange thing happened when typing "dog menu" into the restaurant ratings website and app Yelp. It automatically generated suggested searches. There were dog massage, hot dogs, pet groomers. Also: "dog meat." But it got more disturbing. Take Yelp...
Updated: 2 hours ago
Florida leads other hurricane-prone states in quality of its building codes

Florida leads other hurricane-prone states in quality of its building codes

Florida has the strongest residential building codes among 18 coastal states, according to a new study by the Insurance Institute for Business & Home Safety. Florida’s rating is 95, almost three times higher than lowest-ranked Texas. Other states wit...
Updated: 2 hours ago
Study: Tampa Bay homes in once ‘redlined’ neighborhoods worth half those in other areas

Study: Tampa Bay homes in once ‘redlined’ neighborhoods worth half those in other areas

Times staffRedlining’ — banks’ refusal to make mortgage loans in certain areas — still has a huge effect on housing values even though the practice was banned 50 years ago. According to Zillow, a Tampa Bay house in a once-redlined area is worth less ...
Updated: 2 hours ago
Tex-Mex chain Chuy’s opens first Tampa restaurant, Nebraska Mini-Mart grab-and-go coming soon

Tex-Mex chain Chuy’s opens first Tampa restaurant, Nebraska Mini-Mart grab-and-go coming soon

NOW OPEN: TEX-MEX CHAIN CHUY’SThe Austin, Texas-based Tex-Mex chain Chuy’s opened its first Tampa restaurant on Tuesday, giving away free Chuy’s for two for a year to the first 50 customers. I know, we missed it, it’s a bummer, but we can still visit...
Updated: 3 hours ago
Clearwater looks to move out of City Hall to speed up Imagine Clearwater waterfront redevelopment

Clearwater looks to move out of City Hall to speed up Imagine Clearwater waterfront redevelopment

CLEARWATER — Elected officials have talked about relocating City Hall from the downtown bluff for a good 30 years. Now there’s a jolt of urgency to actually do it.Voters backed a referendum in November that essentially greenlighted the $55 million re...
Updated: 8 hours ago
Madeira Beach rethinks commitment to ferry

Madeira Beach rethinks commitment to ferry

MADEIRA BEACH — When most members of the current City Commission ran for office they pledged to impose tighter fiscal controls on spending taxpayer dollars.It was obvious Tuesday they haven’t changed their minds. The commission’s latest target is a f...
Published: 04/25/18
Shrinking supply of Tampa Bay condos and townhomes drives up prices

Shrinking supply of Tampa Bay condos and townhomes drives up prices

Sales of condos and townhomes in the Tampa Bay area jumped 9.5 percent in March, hitting a median of $156,000. The price gain was prompted in part by a supply shortage, with sales down 7.5 percent amid a dwindling inventory. Statewide, sales also lag...
Published: 04/25/18
Seminole council does full flip-flop on kratom sales

Seminole council does full flip-flop on kratom sales

SEMINOLE — In a rare move, City Council members reversed themselves on a unanimous vote to ban the sale of kava and kratom within city limits, agreeing — once again unanimously — not to bring the ordinance to a second reading.The "consensus vote" to ...
Published: 04/25/18
Against neighborhood and city staff wishes, Clearwater Council greenlights storage facility

Against neighborhood and city staff wishes, Clearwater Council greenlights storage facility

CLEARWATER — Skycrest residents showed up to City Hall recently and begged elected officials not to let a developer knock down an aging office building in their neighborhood and build a storage facility in its place.Planning and Development Director ...
Published: 04/25/18
Three artists picked to create art for St. Pete’s new pier

Three artists picked to create art for St. Pete’s new pier

ST. PETERSBURG — Pelicans will return to the pier in fanciful form.A California artist has been selected to create an enormous, red origami sculpture of a pelican that will serve as a metal perch for three more lifelike, but no less fanciful, imitati...
Published: 04/25/18