Pine firm Vertilocity enters into merger with Odyssey Software

Managed services provider Vertilocity, an HBK company, has entered into a definitive merger agreement with Odyssey Software.

Based in Pine, 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, UKG and Questica Budgeting. The firm’s primary focus has been on behavioral health care and human services, but it is also active in commercial markets, including wholesale distribution, professional services and construction.

Founded in 1993, Odyssey currently counts 17 employees in Pine, Eastern Pennsylvania, Arkansas, and Texas, and serves more than 200 clients in multiple states.

“I’m excited about what this merger brings to our team and the clients of both firms,” Bruce Nelson, Vertilocity president, said. “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.”

Established in 1949, HBK is a multidisciplinary financial services firm with clients varying from individuals to small businesses to multimillion-dollar corporations across the United States.

“I have known and respected Bruce for nearly two decades,” Mike Dorsey, Odyssey Software president, said about Nelson. “He’s honest and ethical, does things the right way, and that was a big factor in our decision to merge with Vertilocity. But 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 gives us a much broader range of services to help our clients move into the virtual or managed IT world. As well, 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, itself the product of an August 2021 merger between Vertical Solutions and HBK IT. Vertilocity operates out of HBK offices in Pittsburgh and Clark, N.J., and in the Denver 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 Allegretti, HBK managing principal and chief executive officer. “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.”