Technology and engineering consultancy NV5 has acquired IT services provider Red Technologies.
Announced on August 8, the acquisition was completed through a combination of cash and stock and will be immediately accretive to NV5's earnings. The value of the deal has not been shared.
NV5, with the acquisition of Red Technologies, now has over 250 employees in the Asia Pacific (APAC) region.
Red Technologies, founded in 2000, provides IT services to technology and financial services clients from its offices in Singapore, Malaysia, and Hong Kong. The company has deployed projects throughout APAC, including Australia, China, India, Japan, Korea, and Southeast Asia.
The two companies have partnered previously, with Red Technologies giving NV5 access to international clients in the data center market.
“The data center market is experiencing rapid growth, particularly in the Asia Pacific Region, as the deployment of 5G service, increased reliance on smartphones, and demand for connectivity drive the expansion of cloud service,” said Dickerson Wright, chairman & CEO of NV5.
“Red Technologies’ information technology and utility infrastructure design and implementation services complement NV5’s existing MEP design and commissioning services to provide a distinct value proposition throughout the entire data center lifecycle and a competitive advantage as we support our data center clients.”
NV5 Global provides technology, conformity assessment, and consulting solutions, focusing on six verticals: utility services, infrastructure engineering, testing and consulting, buildings and technology, environmental health science, and geospatial services.