Thrive, a next-gen MSP backed by private equity firm Court Square Capital Partners, has acquired Edge Technology Group to expand its expertise in the financial services vertical market. Financial terms of the deal were not disclosed.
This is technology M&A deal number 586 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Thrive, founded in 2000, is based in Foxborough, Massachusetts. The company has 483 employees listed on LinkedIn. Thrive's areas of expertise include managed and outsourced IT services, hosted cloud services, help desk support, on-site engineering, strategic technology consulting, disaster recovery, business continuity planning, professional services, compliance and regulatory services, security, hybrid cloud, cybersecurity, DRaaS and fintech.
Edge, founded in 2007, is based in Greenwich, Connecticut. The company has 213 employees listed on LinkedIn. Edge’s areas of expertise include IT, managed services, hedge fund technology, network engineering and design and IT for the alternative financial sector.
About Edge Technology Group
Edge provides public cloud configurations to its clients, which include hedge funds, private equity firms, family offices, and asset managers around the world. The acquisition of Edge Technology Group adds new global offices and data centers across the United Kingdom, Australia, Singapore, Hong Kong and the Philippines, strengthening Thrive's international presence for all customers, the company said.
Thrive Acquires Edge Technology Group: Executive Perspective
Rob Stephenson, CEO, Thrive, commented:
"Edge Technology Group is the leading Financial Industry MSP in the world. Their talented engineering and account management teams will now have access to the Thrive Automation Platform and our 24x7x365 comprehensive suite of Cybersecurity SOC services to enhance the Edge client experience."
Jim Nekos, CEO, Edge Technology Group, said:
"As a founder-owned managed services provider, we are fully immersed in advancing clients' alternative investment practices via our IT advisory services and cloud computing solutions. Edge is thrilled to join the Thrive family as their client-first commitment is perfectly aligned with ours and their advanced cybersecurity, automation, collaboration and managed services platform will expedite our customers' Digital Transformation journey."
Thrive’s M&A Growth
With this acquisition, Thrive now has over 1,000 employees. This is the company’s fourth deal in 2022. The other deals involved SouthTech, Preemo and DSM.
Thrive has acquired more than a dozen MSPs, IT service providers and consulting firms since 2016. The company now positions itself as a “security-first MSP” that delivers “comprehensive managed services ... to drive secure digital transformation for small to mid-sized enterprises across multiple industries,” Thrive said.
