Mergers and Acquisitions, Mergers and Acquisitions, SI, IT management, MSP, Private equity

PE-Backed Upstack Acquires Signal Technology Group


Communications and digital infrastructure company Upstack, backed by private equity firm Berkshire Partners, has acquired Signal Technology Group, an independent technology advisory firm, for an undisclosed amount.

This is technology M&A deal number 102 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2022, 2021, and 2020 listed here.

Upstack Acquires Signal Technology Group

Upstack, founded in 2017, is based in New York, New York. The company has 136 employees listed on LinkedIn. Upstack’s areas of expertise include colocation, network, private cloud, public cloud, hybrid cloud, hybrid IT, data center, unified communications, cloud contact center, security and business continuity.

Signal Technology Group, whose legal name is RYSE Communications LLC, was founded in 2000 and is based in Utica, New York. The company has 11 employees listed on LinkedIn. Signal Technology Group’s areas of expertise include cloud, internet, communications, network, and security solutions.

As part of UPSTACK's investment, Signal Technology Group's Founder and CEO Rob Wuest will join UPSTACK as Partner, the company said.

Upstack Acquires Signal Technology Group: Executive Commentary

Christopher Trapp, CEO, Upstack
Christopher Trapp, CEO, Upstack

Christopher Trapp, founder & CEO, Upstack, commented:

"Rob Wuest built Signal Technology Group over more than 20 years by giving customers access to technology services on their terms. Customer advocacy is a value that we share. I could not be more pleased to welcome Rob to the UPSTACK Team."

Rob Wuest, founder & CEO, Signal Technology Group, said:

"By partnering with UPSTACK, I can offload the day-to-day of running a business, so I can spend more time advising business customers. I also can offer customers access to top-notch support and specialists across a range of solutions, so they can leverage the latest technologies to be more competitive."

Upstack’s M&A Growth

Building on an earlier equity investment from Berkshire Partners, Upstack recently secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit to further scale its platform through technology expansion and strategic partner investments.

This has led Upstack to be very active in the M&A game in recent years. LinkSource is Upstack’s 26th acquisition in the past two years. The acquisitions have primarily focused on telecommunications, networking and infrastructure companies. The deals that ChannelE2E has tracked include: