Data center marketplace Upstack has bought two more consultant firms in Subsidium Technologies & DVP Technologies.
The company – which operates a global database to help customers find available data center space, network capacity, and other services – has been on an acquisition spree in recent years. This week’s deal marks the fourth and fifth companies the firm has acquired this year, following at least seven in 2021.
Terms of either deal were not shared.
Upstack buys Subsidium
Founded in 2002 and headquartered in Clifton Park, New York, Subsidium Technologies Inc. is a telecommunications agency specializing in communication, network connectivity, cloud, and collaboration technology for network service providers.
Subsidium’s CEO John Bova and COO Ed Degenhart will join Upstack as partners and managing directors along with additional members of the Subsidium team.
“Subsidium has delivered technology solutions to businesses for two decades with a concierge approach that’s a perfect match with Upstacks’s vision for helping businesses more successfully source technology solutions that work for their specific needs,” said Christopher Trapp, CEO of Upstack. “We’re proud to welcome John Bova, Ed Degenhart, and the Subsidium team to the Upstack family.”
“We wanted to provide the best solutions for customers instead of working within the boundaries of our employers’ services,” said Degenhart. “As independent agents, we had the versatility and vendor diversity to put custom packages together for our clients.”
“Ed and I started this business with the dream of becoming successful while providing the best possible service to our customers,” added Bova. “We’re excited to continue this journey with Upstack who has a shared vision of exemplary service and continued growth. Upstack has earned a great, nationally known reputation, and we’re proud to be a part of the team.”
Upstack buys DVP
Founded in 2000 and based in Connecticut, DVP provides business customers with networking, data, and cloud solutions, including contact center as a service (CCaaS), unified communications as a service (UCaaS), Ethernet WAN, SD-WAN, virtual desktops, desktop as a service (DaaS), and managed hosting.
DVP’s co-founders and managing partners Thomas Luciano and Michael Rafferty will join Upstack as Partners and Managing Directors. DVP director of Operations Eric Nygard also will join the company.
“Over more than two decades, Thomas Luciano and Michael Rafferty have built a successful network and cloud infrastructure agency with marquee clients in the financial, legal, health care, and commercial real estate markets,” said Upstack CEO Trapp. “We’re thrilled to bring their expertise to the Upstack team.”
DVP was reportedly being ‘courted by four investors,' but ultimately chose Upstack.
“We came to like the folks at Upstack and Christopher Trapp’s vision to grow the business beyond the acquisition,” said Luciano. “It was clear there was a deep organization and that he was planning ahead. Combined with the quality of advisors they’re bringing on board, Upstack seemed to be a perfect fit for us.”
“Being part of Upstack opens up a whole new suite of products and services that our customers can source,” added Rafferty. “And the pre-sales and post-sales resources now at our disposal will enable us to maintain a high-touch experience for our customers as we grow.”
Upstack launched in 2017 with the idea to enable customers to find colocation space through a single source by aggregating and comparing multiple providers' offerings. The company secured $50 million in equity investment from Berkshire Partners last year, followed by $100 million in financing from MidCap Financial and Morgan Stanley Private Credit.
In August 2021 Upstack bought tech infrastructure advisory firm CloudAdvise, following the previous acquisitions of DataCenterAndColocation.com, telecom advisory firm LanYap, infrastructure firm Cloudwirx, consultants M2 Enterprise Group, PacTech Partners, and Cloudnexion that same year.