This is technology M&A deal number 151 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
Storfirst is a secure, OEM- and platform-agnostic file system migration and information management software. The platform allows customers to manage the movement of their data from production servers to disaster recovery servers, on-premises and to the cloud. The deal strengthens Park Place’s own software portfolio, according to the company.
Park Place has purchased assets from Congruity360 in the past, having acquired the third-party maintenance business, data migration services businesses and new hardware sales offerings from the company in September 2021.
Park Place Technologies Acquires Storfirst
Brian Davidson, CEO, Congruity360, commented:
“Park Place Technologies has been using Storfirst, which launched nearly 20 years ago, for data migration file storage replication. By officially owning Storfirst, Park Place can enhance its data migration services and expand its software portfolio.”
Chris Adams, president and CEO, Park Place Technologies, added:
“The acquisition of Storfirst is a tremendous addition to our portfolio of services and products, and represents great progress to expanding our software offerings. Storfirst’s ability to aggregate unstructured data and run analytics puts customers in the driver seat, empowering them to manage their data while reducing costs.”
Park Place: Latest and Previous Acquisitions
Park Place was founded in 1991 and is now backed by private equity firms Charlesbank Capital Partners and GTCR. The company has made nearly 20 acquisitions since 2016. Other deals from the company have included:
- September 2021: SiteGrid’s NetSure+ inventory management software.
- January 2020: The network operations center (NOC) business from IntelliNet.
- August 2019: Entuity, a network performance monitoring software company.
- April 2019: MCSA Group, an IT services and solutions provider.
Private equity firm GTCR has owned Park Place Technologies since 2015. Charlesbank Capital Partners acquired a piece of Park Place in 2019.