PITTSBURGH, June 21, 2024 /PRNewswire/ -- Magna5 has been named one of the world's top-performing managed service providers (MSPs) in the prestigious 2024 Channel Futures MSP 501 rankings. This list, a benchmark in the technology industry, ranks companies based on growth, profitability, and innovation.

For 17 years, managed service providers around the globe have vied for inclusion on this definitive list. The Channel Futures MSP 501 survey evaluates MSPs using a quantitative methodology based on annual revenue, profitability measured by EBITDA, and recurring revenue. MSPs that qualify for the list undergo a rigorous review by the Channel Futures research team and editors. The unique ranking method weighs financial performance according to long-term health and viability, commitment to recurring revenue, and operational efficiency.

"Our inclusion in the 2024 Channel Futures MSP 501 highlights the relentless dedication and innovative spirit of our team," said Robert Farina, CEO of Magna5. "This recognition validates our commitment to delivering top-tier managed services that empower our clients to succeed. We are honored to be among the industry's best and will continue to push the boundaries of excellence in service and technology."

The companies that make up the MSP 501 are the best in the technology services industry, delivering outstanding vendor and platform-neutral advice and value to customers. This year, the MSP 501 generated nearly $25 billion in aggregate revenue, with average recurring revenue growth of 19%. Many of their services and technology offerings focus on customer needs in the areas of AI, cloud, security, collaboration, networking, help desk, and remote monitoring and management.

"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."

About Magna5
Magna5, a NewSpring Holdings platform, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery, and other advanced IT services to SMB, mid-market and enterprise customers, including leaders in education, healthcare, government, financial services, manufacturing, and other industry segments. Headquartered in Pittsburgh, PA, Magna5 has customers nationally. For more information, visit www.magna5.com. 

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 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.

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SOURCE Magna5