MSP and data center hardware maintenance company Park Place Technologies, backed by private equity firms Charlesbank Capital Partners and GTCR. has acquired SiteGrid's NetSure+ inventory management software.
This is technology M&A deal number 556 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Park Place and NetSure+: Potential Customer Benefits
Park Place’s OEM-compliant NetSure+ analytics and reporting functionality gives customers visibility to inventory levels, sparing compliance, warranty processing and consumption information in one location, the buyer says.
In a prepared statement about the deal, said Chris Adams, Park Place President and CEO, said:
“As Park Place expands its unique portfolio of services to incorporate nearly every element of managing IT infrastructure, we want to provide more customizable options for our clients. NetSure+ will help our customers optimize their maintenance spend and ensure the economic viability of support and sparing systems. We have partnered with SiteGrid for the past year and deployed this solution to many of our customers, so we know this acquisition is a win-win.”
Added SiteGrid CEO Brett Ganey:
“Our partnership for the past year has given us great insight into Park Place’s customer focus and drive for innovation,. Customers have already benefitted greatly from our collaboration, and we know that Park Place’s global engineering team will allow us to scale internationally. We are delighted to join the Park Place family.”
Park Place: Latest and Previous Acquisitions
SiteGrid CEO Brett Ganey and a team of networking experts will join Park Place. Exact headcount figures and financial terms of the deal were not disclosed.
This is Park Place’s 17th acquisition since 2016. Earlier deals involved Park Place acquiring:
Private equity firm GTCR has owned Park Place Technologies since 2015. GTCR sold a stake in the third-party maintenance provider to Charlesbank Capital Partners in 2019.