M&A Deal Summary

Thrive Networks Acquires SouthTech Solutions

On March 9, 2022, Thrive Networks acquired internet software and services company SouthTech Solutions

Acquisition Highlights
  • This is Thrive Networks’ 1st transaction in the Internet Software and Services sector.
  • This is Thrive Networks’ 7th transaction in the United States.
  • This is Thrive Networks’ 2nd transaction in Florida.

M&A Deal Summary

Date 2022-03-09
Target SouthTech Solutions
Sector Internet Software and Services
Buyer(s) Thrive Networks
Deal Type Add-on Acquisition

Target

SouthTech Solutions

Sarasota, Florida, United States
SouthTech Solutions offers a complete suite of tailored IT solutions, including managed services, Cloud and hosting solutions, backup and disaster recovery services, unified communications, compliance auditing, and data security. SouthTech Solutions is based in Sarasota, 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 8 of 20
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 20
State: Florida M&A 2 of 5
Country: United States M&A 7 of 17
Year: 2022 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 Preemo

Miami, Florida, United States

Preemo is an IT services and proactive, innovative solutions for a variety of businesses, including law firms, medical offices, accounting firms, and manufacturing & distribution companies. Preemo is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-24 DSM Technology

Lakeland, Florida, United States

DSM Technology is a provider of Data Protection suite, and Disaster Recovery platform take a rapid recovery approach to data assurance. DSM Technology was founded in 1986 and is based in Lakeland, Florida.

Buy -