After more than 35 acquisitions since 2021, technology advisory firm UPSTACK continues building on its growth strategy with the acquisition of Arkansas-based V3 Technology, which provides IT and telecom infrastructure services to mid-market businesses.
Founded in 2012, V3 Technology helps customers bolster their IT and telecom infrastructures. They serve clients in a wide range of fields, including the financial services, healthcare, and oil and gas industries.
After the acquisition, Tom VanVeckhoven, V3’s president, joined UPSTACK as a partner, while Miles VanVeckhoven, V3's vice president of sales and operations, was also retained and will join the company.
The price tag and other terms and details of the acquisition were not disclosed.
Ryan Chorazy, UPSTACK's senior vice president of corporate development, told ChannelE2E that the latest acquisition follows the company’s steady growth strategy.
“UPSTACK continues to make opportunistic investments in high-performing companies to expand the capabilities, services, and ultimately the value provided to our growing customer base,” said Chorazy. “V3 Technology very much fits this mold while also helping UPSTACK expand its presence in the west-south central region of the United States.”
Growth by Acquisition for UPSTACK: Analyst
Shelly Kramer, principal analyst with Kramer&Co., told ChannelE2E that UPSTACK’s growth by acquisition plan is not at all unusual for a venture capital-funded company.
“In the past handful of years, I see that UPSTACK has acquired more than 30 companies,” said Kramer. “For example, prior to V3, in January of 2024, UPSTACK acquired Strategic Telecom Partners, a tech services advisory firm serving mid-market and enterprise clients specializing in network connectivity, unified communications as a service (UCaaS), contact center as a service (CCaaS), security, mobility, and SD-WAN.”
The latest acquisition of V3 will fit right in with UPSTACK’s strategy, she added. “It appears that V3's expertise in the telco space and its focus on connectivity, security, mobility, and UCaaS augments the similar focus of Strategic Telecom Partners. With this latest deal, UPSTACK is broadening its portfolio to have more depth and opportunity for growth among the customer bases of these companies, while also serving a broader customer base.“
At the same time, there are financial benefits for V3’s owners as well, added Kramer. “For V3, it probably represents a nice payday for the founders and an opportunity for expanded growth opportunities.”
What the Deal Means for V3 Customers
Under the acquisition, V3 Technology will continue to support its current clients while gaining benefits from UPSTACK's enhanced technical expertise, expanded sales support and innovative proprietary technology, according to the companies. By gaining knowledge and experience from UPSTACK's team, V3 Technology will benefit from more resources for account management and growth that will help it focus even more on its customers, the companies added.
Another major benefit of the acquisition is that it is expected to expand V3’s reach into larger business accounts, according to the companies.
Since its inception, V3 has specialized in delivering customized technology services and products for mid-market businesses, including connectivity, UCaaS, security, and managed mobility. V3 also provides presale services, contract management, billing services and customer support for customers.
UPSTACK owns a diverse collection of services and products within the companies it has acquired and amassed. Included are services ranging from data center colocation to network connectivity, SD-WAN, unified communications, cloud contact center operations, customer experience (CX) expertise, AI and machine learning, private and public cloud, security, mobility, business continuity, IoT and more.
In February of 2024 UPSTACK acquired the telecom agency services division of CA Communications Inc., while in October of 2023 it acquired Network One Solutions, a technology solutions consulting firm headquartered in Laguna Niguel, California.
