In a strategic move to expand its digital infrastructure platform, Upstack, backed by private equity firm Berkshire Partners, announced today its acquisition of Network One Solutions, a technology solutions consulting firm headquartered in Laguna Niguel, California. Financial terms were not disclosed.
This is technology M&A deal number 281 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.
Upstack, founded in 2017, is based in New York, New York. The company has 136 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.
Network One Solutions, founded in 2007, is based in Newport Beach, California. The company has three employees listed on LinkedIn. Their specialty areas include cloud solutions, data networking, voice and unified communications, and security services.
A Stronger Alliance
Network One Solutions caters to a diverse clientele comprising small and medium businesses (SMBs), municipalities, and hospitality organizations. The company operates across the U.S., providing single-point contact for all its services.
This acquisition will integrate the Network One Solutions team into Upstack. Network One's founder and CEO Michael Stevens previously worked for AT&T and Mpower Communications (now TPx). He will step in as a partner for Upstack, the company said.
Voices from the Inside
Christopher Trapp, founder and CEO, Upstack, commented:
"Michael Stevens and the team at Network One Solutions have reached the top by taking the time and complexity out of sourcing and managing technology services for businesses. Their vendor-agnostic, customer-first approach aligns with UPSTACK’s mission. We’re excited for Michael and the team to join the UPSTACK family.”
Michael Stevens, founder and CEO, Network One Solutions, commented:
“The executive team’s perspective on growth and the company’s customer service culture is in line with how we operate Network One. Upstack has a track record of acquiring companies, keeping their people and putting them where they perform the best. They’re all in on making us part of the company’s future success. We’re not just another acquisition.”
Upstack’s M&A Deals
Building on an earlier equity investment from Berkshire Partners, Upstack secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit earlier this year. That allowed the company 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:
- April 2023: Signal Technology Group, an independent technology advisory firm.
- March 2023: The network and cloud-sourcing business of LinkSource Technologies.
- October 2022: NPG Solutions LLC, an independent technology and communications solutions advisor.
- September 2022: Digital Planet Communications.
- September 2022: Full-service IT services provider Stellar Connect.
- August 2022: ChaseTek, which specializes in serving multi-location businesses in retail, health care, financial services and manufacturing industries.
- April 2022: Universal Telecommunications Inc. and its sister company Universal Solutions Providers.
- March 2022: Full-service telecommunications agency Meridian Network Services
- March 2022: Network consulting firm United Technology LLC
- 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