Quisitive Technology Solutions, just named Microsoft's U.S. Partner of the Year, has acquired Ottawa, Ont.-based Corporate Renaissance Group. The purchase price is about $4.87 million, with roughly $4.23 million in cash and the rest in Quisitive stock.

CRG had revenue of approximately $5.8 million and EBITDA of about $2.25 million for 2018. The acquired firm is also to obtain a roughly $561,000 interest-free loan from Software Integrators International, which is controlled by CRM president Vijay Jog, for general operating requirements. Jog said the deal will enable his firm to “scale our Dynamics 365 enterprise performance business throughout North America.” Quisitive recently reported revenue of about $3 million for the first quarter ended March 31, which was 66.1-percent higher than revenue in the year earlier quarter. Quisitive was formed in August with the reverse take-over of Nebo Capital Corp., by Fusion Agiletech Partners, which then changed its name to Quisitive Technology Solutions and began trading on the Toronto Exchange that month. It also has office in Dallas, Texas, and Denver, Colo. Quisitive said during the quarter it managed 65 customer engagements, “including 52 Microsoft Azure Cloud Assessments and 13 new customer projects in Microsoft Azure, Office 365, and blockchain custom development.” Quisitive lists producing blockchain-based products and services as one of its goals.

Last modified on Friday, 07 June 2019
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