This is technology M&A deal number 747 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Upstack, founded in 2017, is based in New York, New York. The company has 103 employees listed on LinkedIn. Upstack’s areas of expertise include colocation, network, private cloud, public cloud, hybrid cloud, hybrid IT, data center, unified communications, cloud contact center, security and business continuity.
ChaseTek, founded in 2004, is based in Dublin, Ohio. The company has 19 employees listed on LinkedIn. ChaseTek’s areas of expertise include enterprise voice and data networks, business infrastructure management, telecommunications solutions, business technology implementation, voice and data product procurement, enterprise voice and data support services and enterprise telecommunications.
ChaseTek specializes in serving multi-location businesses in retail, health care, financial services and manufacturing industries.
As part of the deal, ChaseTek's president Chris Wolfe and vice president Michael Marlowe will join Upstack as partners and managing directors, according to the company. Additionally, ChaseTek's staff of eight technology specialists will join Upstack’s support team, the company said.
Upstack Acquires ChaseTek: Leadership Insight
Christopher Trapp, founder and CEO, Upstack, commented:
"ChaseTek has grown into a reputable and respected technology infrastructure advisory firm by filling a void in the market for expert advice paired with managed services. Their model aligns perfectly with our own, and we're excited to welcome Chris, Michael and team to Upstack."
Chris Wolfe, president, ChaseTek, said:
"While our technology solution set has changed, our core value proposition has remained the same. We ensure that provider promises are kept and that clients realize the value of their technology infrastructure from contract signing onward. Our customers will benefit immediately from the support organization Upstack is building, which would be difficult for us to scale to on our own. And we build a high degree of certainty that we can continue delivering for our customers into the future."
Michael Marlowe, vice president, ChaseTek, added:
"The future for us as part of Upstack is very exciting. What we can do to help our clients with Upstack’s tools, backing and broadened offering is motivating. We immediately benefit from the depth of resources and capabilities.”
Upstack’s M&A Strategy
Building on an earlier equity investment from Berkshire Partners, Upstack recently secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit to further scale its platform through technology expansion and strategic partner investments.
This has led Upstack to be very active in the M&A game in recent years. The acquisitions have primarily focused on telecommunications, networking, and infrastructure companies. The deals that ChannelE2E has tracked include:
- February 2022: Telecommunications agency Subsidium Technologies and communications solutions and consulting provider DVP Technologies.
- January 2022: Technology consulting firm teXium.
- October 2021: Global Communications Networks (GCN).
- September 2021: Telecommunications consulting firm Legacy Solutions and Open Communications LLC, and an IT consulting firm.
- September 2021: Network and IT consulting firm idea! Communications Group and MOC4, a technology advisory firm.
- August 2021: CloudAdvise, a technology infrastructure advisory firm.
- July 2021: LanYap Networks, a strategic telecom and cloud solutions provider for medium and large businesses.
- July 2021: Consulting firm DataCenterAndColocation.com
- June 2021: Global technology infrastructure solutions firm Cloudwirx Inc
- May 2021: Telecommunications consulting firm M2 Enterprise Group
- April 2021: Global technology and telecommunications consulting firm Cloudnexion