Quisitive lost $9.9 million last year, compared to $7.4 million in red ink for 201`9. Growth in the last year was driven by acquisition and Reinhart expects to continue purchasing other operations. The 2020 results included the operations of former reseller Menlo Technologies, which produced a significant part of the growth—it had $19.5 million to rank as No. 39 on Bob Scott’s Top 100 VARs for 2020. This year’s growth for Quisitive will include the addition of revenue from healthcare reseller, Mazik Global, and the purchase of Bankcard USA, expected to close soon. The latter is part of the structure for Quisitive’s LedgerPay business. Reinhart said during the week’s earnings webcast. He noted with the growth of the payments business, Quisitive will begin segment reporting for payments and for its cloud software business
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QUISITIVE CEO: $250M BY MID DECADE Featured
Quisitive Technology Solutions will be a $250 million company in three to five years, CEO Mike Reinhart said this week. That came after the Toronto, Ont.-based Dynamics reseller reported revenue of $49.8 million for the year ended December, up from $18.5 million for 2019.