Managed Services, MSP

Upstack Buys Technology Services Advisory Firm

A $75M glimmer of hope for struggling cybersecurity startups

Upstack has purchased Progressive Communications Management (PCM), a technology services advisory firm, for an undisclosed sum.

With the acquisition, PCM co-founders Bob Matthews and David Weisenberg will join Upstack as partners and managing directors.

This is technology M&A deal number 309 that ChannelE2E and sister site 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 151 associated members listed on LinkedIn. Upstack's areas of expertise include colocation and data centers, network connectivity and unified communications.

PCM, founded in 2001, is based in Fort Lauderdale, Florida. The company is not currently listed on LinkedIn. PCM's areas of expertise include connectivity, managed network services and cybersecurity.

What the Acquisition Means for Upstack and PCM

Matthews and Weisenberg built PCM into "one of the most successful tech services advisory firms based on one simple principle — do the right thing for the customer," Upstack CEO Christopher Trapp said. They now bring their "customer-first mindset" to Upstack, Trapp noted.

Meanwhile, Upstack will help PCM grow its customer base, Weisenberg indicated. It also expands PCM's team and ensures that the business can better support its customers, Weisenberg stated.

Upstack Continues to Bolster Its Portfolio

The PCM acquisition comes after Upstack made the following acquisitions to date in 2023:

Along with these acquisitions, PCM in March 2023 bought the network and cloud sourcing business of LinkSource Technologies, a technology management company.

Upstack offers digital transformation solutions to help organizations enhance and accelerate their IT infrastructure. The company has reported nearly 2,900 successful customer engagements.

Dan Kobialka

Dan Kobialka is senior contributing editor, MSSP Alert and ChannelE2E. He covers IT security, IT service provider business strategies and partner programs. Dan holds a M.A. in Print and Multimedia Journalism from Emerson College and a B.A. in English from Bridgewater State University. In his free time, Dan enjoys jogging, traveling, playing sports, touring breweries and watching football.