Combined capabilities strengthen footprint in the Financial Services Sector, which includes Hedge Funds, Family Offices, Venture Capitalists and Private Equity Firms.
WESTWOOD, Mass.--(BUSINESS WIRE)--Coretelligent, a leading provider of comprehensive managed IT and private cloud services and a portfolio company of VSS, a private investment firm, today jointly announced the acquisition of managed services IT firm SoundView IT Solutions, LLC. Morgan Partners was the exclusive financial advisor on this transaction, and the financial terms of the private transfer were not disclosed.
As a full-service IT integration company, SoundView IT Solutions provides clients a range of offerings from working with them as a valued partner to complementing a firm’s internal IT team. SoundView was formed after the closure of Pequot Capital Management in 2009, and has deep experience within hedge funds, family offices, and corporations throughout metropolitan NY and the tri-state area. SoundView IT Solutions designs and builds cutting-edge, redundant, cost-efficient Technology Infrastructures.
“We are thrilled to have SoundView join the Coretelligent family. Both SoundView and Coretelligent bring deep expertise and a commitment to delivering a white glove IT experience through outstanding service. Together, our unrivaled suite of support, cloud and security solutions provide a robust platform to help companies navigate all areas of technology and compliance,” said Coretelligent Founder, President, and CEO, Kevin J. Routhier. The SoundView team and their prestigious clientele further strengthen Coretelligent’s market leadership in the Financial Services sector.
“SoundView’s managed services offering, primarily within the Financial Services sector, fits seamlessly into Coretelligent’s portfolio,” said Trent Hickman, Managing Director, VSS. “This acquisition exemplifies VSS’s proficiency in identifying and executing upon significant growth opportunities through partnering with exceptional management teams. We’re thrilled to see Coretelligent expand their market base.”
The acquisition brings together the two organizations under the name Coretelligent, resulting in an expanded base of over 150 full-time employees. SoundView’s Managing Partners Bill McGee, Gary Logvin and Kelly Moore will all be joining Coretelligent’s Executive Team in the upcoming weeks.
Bill McGee, Managing Partner, SoundView, stated, “ Our acquisition through Coretelligent ensures each of our clients better positioning for future success through enhanced platforms and technology offerings.” Kelly Moore, Managing Partner, SoundView, added, “With business goals and focuses closely aligned with our own, we’re confident that joining Coretelligent will be a smooth and rewarding process for all of our clients.”
“As SoundView has grown we’ve always focused efforts on putting our clients' needs first. This acquisition will give our client base a more solid foundation to trust upon while building their businesses,” said Gary Logvin, Managing Partner, SoundView.
VSS has substantial experience investing in lower middle-market companies, including information technology businesses where its flexible capital approach to investing can be used to support growth through strategic acquisitions and other transactions. The firm invested in Coretelligent in October 2016. This acquisition marks Coretelligent’s second acquisition of 2019, having previously acquired United Technology Group. LLC., out of Atlanta in April.
Coretelligent is a leading provider of comprehensive managed IT, Security, and cloud services, enabling organizations to seamlessly power and successfully grow their businesses. Founded in 2006 and led by world-class experts, Coretelligent’s key White Glove services – Managed IT, Security and Compliance, Cloud Management and Backup and Disaster Recovery – are relied on by top-tier organizations in the financial services, life sciences, legal, and technology industries among others. The organization is recognized as leaders by the Boston Business Journal, CRN, Inc., MSPmentor, and the U.S. Chamber of Commerce. Coretelligent’s headquarters are located in Westwood, Mass., with strategic offices located nationally in New York City, Philadelphia, Atlanta and the San Francisco Bay area. For more information, please visit www.coretelligent.com or follow us on Twitter, Facebook & LinkedIn.
VSS is a private investment firm that invests in the information, education, healthcare, and tech-enabled business services industries. VSS provides capital for growth financings, recapitalizations, strategic acquisitions, and buyouts to lower middle-market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and invests in situations requiring control or non-control equity, mezzanine securities, and structured equity securities. For more information, please visit www.vss.com.