Thrive, an MSP backed by private equity firm Court Square Capital Partners, has acquired IT Freedom for an undisclosed amount.
This is technology M&A deal number 200 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Thrive, founded in 2000, is based in Foxborough, Massachusetts. The company has 1,024 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.
IT Freedom, founded in 1999, is based in Austin, Texas. The company has 21 employees listed on LinkedIn. IT Freedom’s areas of expertise include IT Management, Desktop Support, Mobile Device Management, Network Monitoring and Management, Server Management, Server Colocation, Backup and Disaster Protection, IT Consulting, IT Engineering, IT Project Management, Security Management, Office 365 Administration, G Suite Administration, Azure, AWS, Fiber Internet Service, Metro Ethernet, HIPAA Compliance, and Hardware and Software Purchasing.
This acquisition extends Thrive’s NextGen Managed Security & Services Platform into Texas and will enable IT Freedom's clients to securely accelerate their Digital Transformation journey to the Cloud, the company said.
Thrive Acquires IT Freedom: Executive Commentary
Rob Stephenson, CEO, Thrive, commented:
"IT Freedom is a customer-first technology services company with a stellar track record of providing a white glove experience to clients of all sizes in Austin for over two decades. We're excited to partner with the IT Freedom team to service their clients and anchor Thrive's expansion plans throughout the state of Texas."
Carey Jung, founder and president, IT Freedom, said:
"IT Freedom is proud to have delivered outstanding service to the Austin market for more than 20 years with state-of-the-art technology and unrivaled customer service. Our company culture and rapid growth align perfectly with Thrive as it continues to expand its NextGen Cybersecurity & Cloud portfolio in Austin and beyond."
Thrive’s M&A Growth
IT Freedom is Thrive's 19th acquisition since 2016. Past deals include:
- April 2023: Canada-based Storagepipe, a cloud, data protection, managed services, and cybersecurity provider.
- November 2022: UK-based IT support company Custard Technical Services.
- June 2022: Edge Technology Group to expand its expertise in the financial services vertical market.
- March 2022: SouthTech, a managed IT services provider (MSP) in Sarasota, Florida.
