At a Glance:

  • Coeo Solutions has acquired NetWolves from healthcare technology company Vaso Corporation to expand its managed network services capabilities and headcount, the companies announced Monday.
  • Under the terms of the deal, Coeo paid a base price of $14.5 million. Vaso had previously acquired NetWolves for $18 million in 2015 and recorded a $4.64 million goodwill impairment on the NetWolves reporting unit in fiscal 2025. Vaso has now fully exited the IT market, having sold its IT support and implementation division to Nanox last November.
  • The acquisition strengthens Coeo's partnerships with Cisco and Fortinet, which are foundational vendors for its network services. "We brought in an experienced team that has done a great job managing and supporting the Vaso customer base," Coeo Chief Revenue Officer Jim Glackin told Channel Dive.

Deep Dive:

Coeo's acquisition of NetWolves brings back to life a provider that had been largely absent from the technology services distribution channel for years.

When Vaso acquired the managed network provider a decade ago, the healthcare software company focused on serving existing Vaso and NetWolves customers, putting agentic market expansion to new customers on the back burner, according to Glackin. Because NetWolves lacked its own unified communications offering, it signed with TSD as an agent to bring UC solutions to its customer base.

Now NetWolves joins Coeo—a company that offers its own UC and voice platform and is committed to growing as a channel partner vendor. Investment from private equity firm Riata Capital helped Coeo acquire S-Net Communications in May and now NetWolves. Glackin said he is currently working on a new TSD contract that incorporates and transitions existing NetWolves and S-Net agreements.

"We are an extremely channel-centric, channel-friendly company," Glackin said. "We want to have a contract that reflects that."

Janet Schijns, CEO of JS Group, a consulting firm that works with Coeo, said in the AI era, partners need "broader coverage, more options, and faster access to innovative network solutions."

"This acquisition enhances COEO's ability to deliver all three," Schijns said. "Having a network of over 1,000 carrier relationships is not just an infrastructure advantage—it's a partner-winning experience."

Strengthening Fortinet and Cisco capabilities is critical for Coeo because, to date, Coeo has used Versa Networks as the underlying OEM vendor in most of its software-defined WAN and secure access service edge deals.

"Versa is a great product, but there is strong demand in the channel for Fortinet and Cisco," Glackin said.

However, having services based on those vendors is only half the battle—you also need the people to support them.

"You have to have teams with experience and skills—project managers, engineers, all of that," Glackin said. "With this acquisition, we not only got the products, but we got experienced, proven talent that knows how to operate."

Coeo partner GTS applauded the move.

"GTS has witnessed Coeo's steady growth, and the NetWolves acquisition fits that pattern," GTS CEO Mark Stackpoole said in an email statement to Channel Dive. "This is not just about scale; it's about providing a deeper foundation for collaboration for our partner community. That consistency is why we continue to recommend Coeo."