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Annual Channel Futures MSP 501 Identifies Best of the Best in the Managed Services Industry
JUNE 22, 2024: MidnightBlue Technology Services has been named one of the world’s top-performing managed service providers in the prestigious 2024 Channel Futures MSP 501 rankings. The Channel Futures MSP 501 list, a technology industry benchmark, ranks companies based on their growth, profitability, and innovation.
For the past 17 years, managed service providers around the globe have submitted applications for inclusion on this prestigious and definitive listing. Being on this list is a milestone achievement for any managed services organization. The Channel Futures MSP 501 survey uses a quantitative methodology to rank companies based on their annual revenue, profitability measured by EBITDA, and recurring revenue. The methodology has been developed by a Who’s-Who in the managed services industry.
MSPs that qualify for the list must also pass a rigorous review conducted by the Channel Futures research team and editors. Channel Futures ranks applicants using a unique methodology that weighs financial performance according to long-term health and viability, commitment to recurring revenue, and operational efficiency.
Channel Futures is pleased to name MidnightBlue to the 2024 MSP 501.
“Being recognized as a 2024 MSP 501 business is a tremendous honor for us,” said Larry Schwartz, CEO of MidnightBlue. “It’s a testament to our entire team’s dedication and hard work, consistently going above and beyond to deliver IT solutions that keep our clients moving and provide an exceptional customer experience. We’re proud of this recognition and our position as a trusted partner in the managed services industry.”
This year’s list is among the most competitive in the survey’s history. Winners will be recognized on the Channel Futures website and honored during a special ceremony at the MSP Summit, Sept 16-19, 2024, in Atlanta, GA.
The MSP 501 represents the best in the technology services industry, delivering outstanding vendor and platform-neutral advice and value to small, midsized, and enterprise customers. This year, the MSP 501 generated aggregate revenue of nearly $25 billion with an average growth or recurring revenue of 19%. These are truly the best of the best. Many of their services and technology offerings focus on customer needs in AI, cloud, security, collaboration, networking, help desk, and remote monitoring and management.
The Channel Futures MSP 501 is responsible for keeping their global customers safe, connected, and efficient.
“The 2024 Channel Futures MSP 501 winners survived a challenging market and emerged as the highest performing and most innovative IT providers in the industry today,” said Dave Raffo, MSP editor and MSP 501 project manager. “The most impressive thing about the MSP 501 winners is they deliver for their customers every day. These are the most innovative, driven, and successful MSPs in a fiercely competitive industry.”
“For a managed service provider to attain a spot on the Channel Futures MSP 501 everything must be operating at peak performance. This list represents the most productive, profitable, fastest-growing, organizations in the technology industry focused on driving their customers to new heights,” said Bob DeMarzo, VP Content, Informa Channels.
“These are the best of the best in the managed services industry as defined by Channel Futures’ extensive research. The MSP 501 companies are the most sought after by peers who want to understand today’s best practices and by technology suppliers who want to partner with these organizations,” DeMarzo stated. “At their core, these are vendor and platform neutral partners focused on doing what is right for their customers.”
The Channel Futures media organization, owned and operated by Informa, is the only channel-centric events, media, and research company that can provide such insight into the managed services market.
The data collected by the annual MSP 501 helps every company on the list and every provider with a managed services practice benchmark their performance and uncover new ways to grow.
Background
The 2024 MSP 501 list is based on confidential data collected and analyzed by the Channel Futures research and editorial teams. Data was collected online from February to May 2024. The MSP 501 list recognizes top-managed service providers based on metrics including recurring revenue, profit margin, and other factors.
About MidnightBlue Technology Services
MidnightBlue specializes in comprehensive IT solutions tailored to small to mid-sized businesses’ unique needs. Founded by CEO Larry Schwartz in 2005, MidnightBlue has become a trusted partner for organizations seeking reliable and scalable IT management. With a commitment to integrity and accountability, MidnightBlue ensures the highest service standards, leveraging expertise and innovative technology to provide proactive and always-on support.
Their core values emphasize extreme ownership, scalable services, and transparent partnerships. They prioritize client satisfaction, tailoring their solutions to fit seamlessly into their clients’ operations. Their services include managed IT, cloud solutions, infrastructure security, data backup and recovery, and cybersecurity. They are dedicated to constant vigilance, with 24/7 monitoring and support, ensuring that IT threats are promptly addressed and systems are continuously optimized. Their mission is to deliver trusted and reliable IT services that enable clients to focus on core business activities, confident that their IT needs are in expert hands.
About Channel Futures
Channel Futures is a media and events destination for the information technology and communications industry. We provide information, perspective, and connection for the entire channel ecosystem, including solution providers (SPs), managed service providers (MSPs), managed security service providers (MSSPs), cloud service providers (CSPs), value-added resellers (VARs) and distributors, technology solutions brokerages, subagent, and agents, as well as leading technology vendor partners and communication providers.
Channel Futures is where the world meets the channel; we are leading Channel Partners forward. Our properties include awards programs such as the Channel Futures MSP 501, a list of the most influential and fastest-growing providers of managed services in the technology industry; Channel Partners events, which delivers unparalleled in-person events, including Channel Partners Conference & Expo and MSP Summit. More information is available at channelfutures.com.
Channel Futures is part of Informa Tech, a leading provider of market insight and market access to the global business technology community. Through in-depth expertise and an engaged audience community, Informa Tech helps business professionals make better technology decisions and helps marketers reach the most powerful tech buyers and influencers in the world. Across its portfolio of over 100+ trusted brands, Informa Tech has over 1000 industry experts, including over 400 research analysts and consultants in global research group Omdia, and a monthly audience reach of over 125 million. Informa Tech is a division of FTSE 100 company Informa plc.
Media Contacts
Dave Raffo
MSP News Editor, Channel Futures
david.raffo@informa.com
Katie Egley
Senior Marketing Manager
msp501@informa.com
