NV5 Global, Inc., which offers technology, conformity assessment, and consulting solutions, is acquiring Red Technologies, which specializes in IT and utility infrastructure services tailored for essential data centers.
While the exact purchase amount was not disclosed, the deal encompassed both cash and stock components and is projected to have an immediate impact on NV5's financial performance, the company said in a prepared statement.
This is technology M&A deal number 241 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.
NV5, founded in 1947, is based in Hollywood, Florida. The company has 2,647 employees listed on LinkedIn. NV5’s areas of expertise include utility services, infrastructure engineering, testing, inspection and consulting, geotechnical, environmental, civil and program management, MEP engineering, code consulting, commissioning, retro-commissioning, technology design and energy optimization.
Red Technologies, founded in 2000, is based in Singapore. The company has 37 employees listed on LinkedIn. Red Technologies’ areas of expertise include Fiber Optical Network Infrastructure, Enterprise IT Infrastructure & Services, Outside Plant Services, Inside Plant Services, Design & Consultancy, Project Management, Maintenance & Support, Remotehands, Network Protection, 24x7 NOC, Field Engineers, Data Center Operation , Fiber Network Audit, IT Support, Remotehands, and Smarthands.
Among Red Technologies' client base are several large international technology and financial services enterprises that use data centers and cloud services for day-to-day operations.
While Red Technologies holds operational bases in Singapore, Malaysia, and Hong Kong. Their project footprint spans across multiple nations including Australia, China, India, Japan, Korea, and several others in Southeast Asia.
In previous and ongoing endeavors, Red Technologies has collaborated with NV5, granting the latter an entry point to fresh international clienteles within the data center sector.
Post-acquisition, NV5's workforce in the Asia Pacific region exceeds 250 individuals.
NV5 previously acquired AV consultant KMK Technologies for an undisclosed amount in September 2022.
NV5 Acquires Red Technologies: Executive Insight
Dickerson Wright, PE, chairman & CEO, NV5, commented:
"The data center market, especially in the Asia Pacific Region, is witnessing significant growth due to factors like the rollout of 5G services, amplified smartphone usage, and the burgeoning need for connectivity bolstering the cloud service sector. The services Red Technologies provides in IT and utility infrastructure design and implementation align well with NV5's present MEP design and commissioning offerings. This harmonization affords a comprehensive approach across all phases of data center development and furnishes us with an edge in aiding our data center clientele."
Maurice Baker, founder and CEO, Red Technologies, said:
"Aligning with NV5 presents us with the prospect of broadening the spectrum of services we extend to our global data center clientele. Additionally, this merger heralds promising growth avenues for our regional workforce."
