MSP Acquisition: Eight Dragons Acquires Park Road Solutions
Eight Dragons, a technology investment company, has acquired Park Road Solutions, which specializes in outsourced chief technology officer, chief security officer, and information technology services.
For its part, Eight Dragons says the acquisition will amplify Miami-based Park Road’s ability to compete in the executive IT consulting market, which is estimated to grow to $193 billion by 2019.
Park Road has implemented its IT managed services in a number of vertical markets thus far including retail, education, finance, and healthcare. The company’s primary of expertise and focus lies with financial service providers like hedge funds and broker dealer clients. The company says it uses bespoke and turnkey methodologies with its offerings to specialize its solutions.
A New Company
Eight Dragons, also based in Miami, is a young organization, opening its doors earlier this year. (So young, in fact, that their website still isn’t up and running.) Since then it’s made a handful of strategic investments, including a joint venture in content specific media streaming with Press Media Group, and an equity position in Rokk3r Labs, a fellow Miami-based venture builder.
According to the company, “Eight Dragons seeks to help companies using innovation and vision to address the world’s biggest challenges and realize exponential opportunities.”