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Coretelligent Acquires Financial Services MSP Soundshore Technology Group

Coretelligent, backed by private equity firm VSS Capital Partners, has acquired Soundshore Technology Group. a managed IT services provider (MSP) focused on financial services firms. Financial terms of the deal were not disclosed.

This is M&A deal number 448 that ChannelE2E has covered so far this year. See the complete M&A deal list here.

The combined company, united under the Coretelligent name, has more than 200 full-time employees, and over 500 clients nationwide.

Soundshore Technology Group (STG) provides IT consulting and MSP services to more than 70 hedge funds, private equity firms, venture capitalists, registered investment advisory (RIA) firms and Family Offices nationwide. Customers are typically located in  Connecticut, New York City and Los Angeles.

Coretelligent Acquires Soundshore Technology: Executive MSP Perspectives

Kevin J. Routhier, president, and CEO, Coretelligent

In a prepared statement about the deal, Coretelligent Founder, President and CEO Kevin J. Routhier said:

“We’re delighted to welcome the Soundshore team and their world-class clientele to the Coretelligent family. The shared commitment to delivering a superlative IT experience to our collective clients made bringing the two firms together a natural decision. The acquisition of STG greatly compliments and further strengthens Coretelligent’s iron-clad platform and unparalleled expertise in the Financial Services Sector.”

Added Eric Benda, managing partner at Soundshore:

“With our acquisition through Coretelligent, we’ll be able to provide our client base enhanced solutions and offerings, strengthening the combined companies’ positioning for future success,” stated Eric Benda, Managing Partner, Soundshore. “We’re confident Coretelligent’s White Glove approach will bolster our successes within the financial services vertical and beyond.”

Concluded Trent Hickman, managing director at VSS:

“Soundshore’s focus of serving the financial services vertical industry aligns naturally with Coretelligent’s client portfolio. This acquisition further exemplifies VSS’s focus of investing and building value by leveraging suitable growth opportunities that are additive to the platform company. We are thrilled to see Coretelligent’s significant growth through expansion over the past 18 months, and are looking forward to building on to to-date successes.”

Additional MSP Mergers, Acquisitions to Note

Coretelligent, backed by VSS since October 2016, has extensive M&A experience. Earlier acquisitions included:

Also, M&A activity in the financial services vertical has been steady for MSPs. Noteworthy deals include:

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