Marcus Penny’s Techabo Acquired by Intevity

Marcus Penny

Digital-commerce consulting agency Techabo has agreed to be acquired by Boston-based Intevity for an undisclosed sum, marking a milestone in Marcus Penny’s five-year entrepreneurial journey.

Founded in 2018 by Penny, a former Under Armour executive, Baltimore-based Techabo provides consulting services on e-commerce solutions, and implements several systems from market leaders such as Salsify, ChannelAdvisor and Shopify. It has notable experience in the apparel and beverage alcohol industries, having helped several Fortune 500 and 1000 companies set up e-commerce sites.

Penny Credits Team Work

“I look back on my entrepreneurial journey with a sense of pride and gratitude. It’s been a challenging but rewarding experience and I have learned so much along the way,” Penny, who earned his MBA from Johns Hopkins Carey Business School, told Citybiz. “I’ve had the opportunity to work with amazing people and I’m proud of what we accomplished together.”

Penny said he would join the Intevity leadership team, and continue to “manage engagements and working to build new partnerships.”

“We’ve worked with Marcus and many of his employees in various capacities since 2006,” said Intevity CEO George Jagodzinski, a former Deloitte manager. “We’re extremely impressed by what Techabo has accomplished in the last five years. They’re a perfect fit with Intevity’s culture and values, and they complement our business strategically by adding considerable specialized depth and breadth to our existing e-commerce capabilities.”

Intevity to Pursue More Deals

Penny said the deal was “particularly gratifying because we modeled Techabo from the outset on Intevity’s business model of consistently going above and beyond the statement of work for our clients to extend their team and help them succeed in their vision and journey.”

Intevity, which has been in business since 2003, said it would continue to pursue inorganic growth, eyeing strategic acquisitions, besides focusing on organic growth through sales, partner and executive channels.

“We’ve been quite deliberate in our growth strategy this year and aim to continue adding depth to our capabilities, verticals and industries,” said Intevity Chairman Ben Elmore. “Techabo presented an excellent opportunity to expand our industry expertise across brand retail, which will allow us to provide even more for existing clients and expand within those markets.”