Mergers and Acquisitions, Channel technologies, Mergers and Acquisitions, Content

AI M&A: Source Code Acquires Boston Limited

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Cloud, data center and edge AI solutions provider Source Code, backed by Cerberus Capital Management, L.P., has acquired UK-based Boston Limited, a provider of high-performance server and storage solutions. The transaction is expected to close on June 30, 2023.

This is technology M&A deal number 185 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.

Source Code, founded in 1992, is based in Milford, Massachusetts. Cerberus acquired Source Code in 2021. The company has 89 employees on LinkedIn. Source Code's areas of expertise include Computer Hardware, White Box Solutions, OEM/Appliance Servers, edge computing, and professional services.

Boston Limited, founded in 1992, is based in St. Albans, Hertfordshire, UK. The company has 134 employees listed on LinkedIn. Boston Limited's areas of expertise include consulting and training services in Machine Learning, AI, Security, and Storage, across several different industries. The company has offices in the UK, FranceGermanyUSASouth Africa, and Australia.

The acquisition will drive growth in business around data, media, and AI as well as traditional IT workloads, according to the companies. With a combined presence across four continents, the acquisition of Boston Limited will expand SourceCode's reach to serve local and global customers with device-to-datacenter-to-cloud offerings.

Boston Limited original founders, Manoj Nayee and Dev Tyagi, will continue in the combined company.

The Boston Limited buy also strengthens Source Code's collaboration with its long-term trusted partners in the semiconductor, original device manufacturers (ODM), and software industries. This will allow Source Code to better serve the needs of its clients—with a broader product portfolio, stronger supply chain, and worldwide reach.

Source Code Buys Boston Limited

Arthur Ataie, Source Code CEO, said:

"As the world moves towards intelligent infrastructure, the modern enterprise with its burgeoning specialized workloads demands a new approach to IT solutions. The addition of Boston Limited, further enables us to address the industry's need for a new class of technology partner, one that delivers customer-first, engineering-led, best-in-class solutions — from intelligent edge devices to data centers and the cloud."

Manoj Nayee, Managing Director and co-founder of Boston Limited, added:

"It seems like a homecoming! Boston and SourceCode were both founded in 1992 and share a proud heritage, a customer-first culture, and excellent reputation with leading organizations across four continents. As we serve more global customers with a richer set of customized solutions, the time is right to join forces with SourceCode. We are entering this next phase with a clear strategy, unrelenting support, and long-term commitment to work towards accelerated growth with the executive teams at SourceCode and Cerberus Capital Management."

New Board Members

Source Code also announced the appointment of two industry luminaries to its Board of DirectorsAlain Andreolli, former president and EVP of the Hybrid IT Group at HPE, and Peter Ungaro, former CEO of supercomputer leader Cray and subsequently SVP/GM of HPC & MCS at HPE.