Genesis Integration Inc. this week blew past president Kelly McCarthy’s stated goal of becoming a $50 million firm by the end of 2018 with its acquisition of Audability Inc. on Oct. 16, giving the combined new company projected revenues of $65 million this year and $75 million for 2018.
The Audability acquisition increases Genesis Integration’s national reach to 10 locations across Canada, including the Sono Video offices in Quebec.
“This allows Genesis Integration to continue to provide the highest level of service possible and to focus on building stronger, long-term relationships with our customers, vendors and partners,” according to the company announcement.
“This is all about synergy, with both Edmonton, Alberta-based Genesis and Audability bringing different skillsets and experiences,” said McCarthy in the joint press release. “This will propel us forward to become a much stronger force in the audiovisual and collaboration marketplace.”
Genesis Integration and Audability’s combined focus “will bring added value and depth of offerings to their client base,” according to the press release.
“We are integrating the combined talents of two companies making one great company with exceptional capabilities” says Audability CEO Andrew Turner in the joint press release. “Being Canadian-owned and operated, we have a unique understanding of this country and the needs of our customers.”
The Audability acquisition marks the second this year for Genesis, following a deal in January to acquire London, Ontario-based Edcom Multimedia Products.
Genesis’ video conferencing as a managed service solution has allowed Edcom’s sales team to go back to their customers with a fresh message.
London, Ontario is far enough away from Genesis’ Toronto and Ottawa offices that it allows the firm to provide good coverage in Ontario, Canada’s most populous province.
In a previous interview with CI, McCarthy had talked about the $50 million threshold as being the time when an integration firm becomes large enough to blur that line between product- and service-revenue.
“When you get there you can negotiate some rebates and the product piece becomes more relevant,” he says.