Data center directory firm Upstack has acquired technology advisory firm Progressive Communications Management (PCM).
The terms of the transactions were not disclosed.
Founded in 2001 and based in Fort Lauderdale, Florida, technology services advisory firm PCM advises enterprise and midmarket organizations on cloud, network, and communications solutions.
PCM co-founders Bob Matthews and David Weisenberg will join the company as Partners and Managing Directors.
“Bob Matthews and David 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,” said Upstack founder and CEO Christopher Trapp. “Their customer-first mindset is a perfect match with Upstack. I’m happy to welcome them to our team.”
Weisenberg said: “The Upstack partnership gives us the ability to grow our client base while expanding our team and solutions expertise to deliver better support to our customers.”
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.
In 2021 the company secured $50 million in equity investment from Berkshire Partners, followed by $100 million in financing from MidCap Financial and Morgan Stanley Private Credit.
Upstack operates a global database to help customers find available data center space, network capacity, and other services. This is the company’s sixth M&A deal in 2023, after 11 acquisitions in 2022 and at least eight in 2021.
March saw Upstack acquire Florida-based enterprise technology advisory firm the Monaco Group (TMG) and the network and cloud sourcing business of California’s LinkSource Technologies. In April the company acquired New York-based technology advisory firm Signal Technology Group.
July saw Upstack acquire Nevada-based Sidepath Global Inc., a full-service provider of telecom services. In October the company acquired Network One Solutions, a technology solutions consulting firm based in California.