Virtual servers and application hosting provider Summit, backed by private equity firm Silver Oak Service Partners, has acquired Deft, a data center and managed cloud services provider. The financial details of the deal were not disclosed.
This is technology M&A deal number 53 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
Summit, founded in 2006, is based in Alpharetta, Georgia. The company has 46 employees listed on LinkedIn. Summit’s areas of expertise include web hosting, Sage hosting, QuickBooks hosting, application management, RDS routing, cloud services, international business, technical support, customer service, cloud hosting, cloud management, cybersecurity, VDI, DaaS, PaaS, and colocation.
Deft, founded in 1999, is based in Elk Grove Village, Illinois. The company has 126 employees listed on LinkedIn. Deft’s areas of expertise include colocation, hybrid cloud, private cloud, managed data center services, IT infrastructure, IaaS, network connectivity, data center, backup, disaster recovery, VMware, and managed services.
Summit Acquires Deft: Strategic Integration
The acquisition aims to combine the strengths of both companies to enhance their offerings in cloud hosting, data center, and network services.
The deal is described as a strategic alignment of two companies aiming to better serve their customers as IT infrastructure needs evolve.
Warren Patterson, CEO, Summit, commented:
"Together, Summit and Deft share a unified vision for the future of IT services — a future where innovation, security, and customer-centric solutions lead the way.”
As part of the acquisition, Deft's co-founders and principals, Jordan Lowe, Daniel Brosk, and Eric Dynowski, will join Summit's leadership team and retain an ownership stake in the company.
"There's no hidden agenda to change how Deft operates,” said Lowe, now a member of Summit’s Board of Directors, commenting on the transition.
Summit's Continued Growth
This acquisition is part of a series of strategic moves by Summit, including the previous acquisitions of Handy Networks and Tech Commandos, indicating a pattern of growth supported by investments from Silver Oak Service Partners, LLC.
Silver Oak is a private equity firm with a history of investments in the business, healthcare, and consumer services sectors, aiming to facilitate growth and development in these areas.
