This is technology M&A deal number 923 that ChannelE2E has covered so far in 2022. See more than 2,000 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.
NPG Solutions, founded in 2009, is based in New Albany, Ohio. The company has four employees listed on LinkedIn. NPG’s areas of expertise include contract management, cost management, telecommunications, invoice validation, supplier sourcing, cloud, big data, UCaaS, SaaS, IaaS, CCaaS, ITaaS, TaaS, AVANT, Agile, software, voice, data, technology and spend management.
As part of Upstack's investment, NPG Solutions' owners and managing partners, Bill Fuller and Bob Ray, will join Upstack as partners, the companies said.
Upstack Acquires NPG Solutions: Executive Perspectives
Upstack founder and CEO Christopher Trapp commented on the news:
"NPG was one of the first telecom agencies to realize the benefits of pairing expert advisory services with sourcing and management software. NPG's vision in developing proprietary tools to scale and improve client services aligns perfectly with Upstack's, making NPG a great fit for our organization. We're excited to welcome Bill and Bob to the Upstack team as our milestone 25th partner investment."
Bill Fuller, NPG Solutions co-owner and managing partner, added:
"When we met with Upstack, we immediately clicked with the culture and the people. It was like we were looking in the mirror. Upstack's message and model resonated with everything we already do and want to do in the future."
Upstack’s M&A Growth
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. NPG Solutions is Upstack’s 25th acquisition in the past two years. The acquisitions have primarily focused on telecommunications, networking and infrastructure companies. The deals that ChannelE2E has tracked include:
- 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