Private equity-backed IT advisory firm Upstack has announced another acquisition this month, this time acquiring LanYap Networks, a strategic telecom and cloud solutions provider for medium and large businesses. Terms of the deal were not disclosed.
This is technology M&A deal number 472 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
The deal is at least the fifth acquisition from Upstack, which is seeking to accelerate the growth of its platform through strategic acquisitions. In April, the company announced an initial $50 million equity investment from Berkshire Partners, which the company has earmarked toward expanding the platform.
LanYap was founded in 2011 by Angie Tocco and Laura Dashney in Phoenix, Arizona. Tocco and Dashney will join Upstack as partners, managing directors and equity stakeholders, according to Upstack. They will also serve as advisors to business customers that are sourcing data center, colocation, cloud, network connectivity and more through the Upstack platform, the company said.
LanYap is also a Platinum partner with master agency Intelisys.
As part of the deal, Upstack will welcome LanYap’s employees while taking on its operational workload, according to the company.
Upstack Acquires LanYap: A Cultural Fit
Christopher Trapp, CEO of Upstack, commented on the deal:
"We're excited to welcome LanYap Networks to the Upstack family. Angie and Laura are well known in the channel both for their high performance and high integrity. Giving back is a cornerstone of their business. Culturally, they’re a perfect fit for Upstack, and we look forward to building on their remarkable legacy together.”
LanYap co-founder Angie Tocco said:
“We enjoyed great success and recognition, but we began to ask, ‘Is it sustainable?’ We were each chief, cook, and bottle washer. Over the years, we hired operations support but always ended up working ‘in’ the business. Partnering with Upstack allows us the autonomy to focus on the aspects of the business we each find most fulfilling.”
Laura Dashney, co-founder, LanYap, added:
“Upstack is not one size fits all. They’re interested in our business and want to do what's best for us, the employees and our clients. Upstack gives us additional resources and frees us up to work with our customers and drive additional levels of value.”
Upstack originally positioned itself as a colocation marketplace, but since then it has pivoted to become a sales agency, offering to help customers select and activate a variety of IT services including colocation, network connectivity, SD-WAN, unified communications, cloud, mobile, IoT, and business connectivity solutions.
Upstack’s platform allows business technology buyers and advisors to “design and compare cloud and internet infrastructure solutions. Its technology consists of a set of tools that automate many of the most time-consuming components of designing and sourcing IT solutions, saving its advisors and end-customers significant amounts of time relative to current modes of manual data extraction, input, comparison and presentation,” the company says.
Upstack’s past deals include: