M&A Deal Summary

Thrive Networks Acquires Abacode

On July 8, 2025, Thrive Networks acquired information technology company Abacode from Ballast Point Ventures

Acquisition Highlights
  • This is Thrive Networks’ 17th transaction in the Information Technology sector.
  • This is Thrive Networks’ 15th transaction in the United States.
  • This is Thrive Networks’ 5th transaction in Florida.

M&A Deal Summary

Date 2025-07-08
Target Abacode
Sector Information Technology
Buyer(s) Thrive Networks
Sellers(s) Ballast Point Ventures
Deal Type Add-on Acquisition

Target

Abacode

Tampa, Florida, United States
Abacode is a managed security services provider with an emphasis on Governance, Risk, and Compliance readiness services and a suite of related cybersecurity professional services. Abacode was founded in 2014 and is based in Tampa, Florida.

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Buyer(S) 1

Buyer

Thrive Networks

Foxborough, Massachusetts, United States

Category Company
Founded 2000
Sector Information Technology
DESCRIPTION

Thrive Networks is a managed services provider, delivers a portfolio of outsourced technology services that included cloud, hosting, security, disaster recovery, backup, replication, network management, device management, storage, virtualization and more. For nearly two decades, Thrive has leveraged leading vendor technologies, its vast technical engineering talent and a fanatical dedication to client support to service hundreds of mid-market customers across the United States. Thrive Networks was founded in 2000 and is based in Foxborough, Massachusetts.


DEAL STATS #
Overall 18 of 20
Sector: Information Technology M&A 17 of 19
Type: Add-on Acquisition M&A Deals 18 of 20
State: Florida M&A 5 of 5
Country: United States M&A 15 of 17
Year: 2025 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-13 Secured Network Services

Littleton, New Hampshire, United States

Secured Network Services is an IT provider for organizations across industries, including healthcare, non-profit, and municipal government. Secured Network Services was formed in 2002 and is headquartered in Littleton, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-09 VitalCore

Stow, Ohio, United States

VitalCORE is a managed technology partner that offers deep expertise in fast and accurate technology valuations, managed security, transactional advisory, and comprehensive managed technology services, from front-line service desks to vCIO deployments. The company seeks to help companies grow through thoughtful strategy and next-level customer service. VitalCORE is based in Stow, Ohio.

Buy -

Seller(S) 1

SELLER

Ballast Point Ventures

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2001
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ballast Point Ventures is a private investment firm that targets growth businesses located in the South US. Ballast Point looks to commit $5 to $15 million of equity capital per transaction and looks for businesses in markets with annual revenues of at least $100 million. Sectors of interest include healthcare, information technology (IT), financial services, communications, business services, and consumer products/services. Ballast Point Ventures was formed in 2001 and is based in Tampa, Florida.


DEAL STATS #
Overall 33 of 34
Sector: Information Technology M&A 2 of 2
Type: Add-on Acquisition M&A Deals 13 of 14
State: Florida M&A 9 of 10
Country: United States M&A 33 of 34
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-09 sojo

Irving, Texas, United States

sojo is an operator of amenity automation platform that simplifies turn-day operations for short-term vacation rental managers through removing the struggle of ordering, storing, and coordinating supplies by automating amenity operations. sojo was founded in 2020 and is based in Irving, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-31 Intelligent Retinal Imaging Systems

Pensacola, Florida, United States

Intelligent Retinal Imaging Systems provides an end-to-end, FDA-cleared telemedicine platform that allows for early detection of diabetic eye disease in the primary care setting. Intelligent Retinal Imaging Systems was founded in 2011 and is based in Pensacola, Florida.

Sell -