Thrive Acquires Edge Technology Group to Become the Leading Cybersecurity Managed Services Provider for the Global Financial Community

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Edge Technology Group will help introduce Thrive’s award-winning Cyber, Cloud & Automation Platform into Asia while amplifying their existing North American & UK Operations

June 30, 2022  

FOXBOROUGH, Massachusetts

Thrive, a premier provider of Cybersecurity and Digital Transformation Managed Services, announced today that it has acquired Connecticut-based Edge Technology Group, a leading global technology advisory and fully-managed IT service provider for alternative investment managers. The acquisition of Edge Technology Group adds new global offices and data centers across the United Kingdom, Australia, Singapore, Hong Kong, and the Philippines, strengthening Thrive’s international presence for all customers. Edge clients, including hedge funds, private equity firms, family offices, and asset managers across the world, will now benefit from Thrive’s next-generation managed cybersecurity, collaboration, and cloud services.

Founded in 2007, Edge is a global technology advisory and fully managed Financial Services IT service provider that provides advisory services and cloud computing solutions to alternative investment managers. Edge serves more than 300 hedge fund, asset managers, private equity, REIT, and wealth management clientele, providing public cloud configurations that are designed to address the distinct business needs of this disparate client base. Edge Technology Group has 265 employees that include a team of client-centered IT strategists and engineers.

“Edge Technology Group is the leading Financial Industry MSP in the world,” said Rob Stephenson, Thrive’s CEO. “Their talented engineering and account management teams will now have access to the Thrive Automation Platform and our 24x7x365 comprehensive suite of Cybersecurity SOC services to enhance the Edge client experience.”

“As a founder-owned managed services provider, we are fully immersed in advancing clients’ alternative investment practices via our IT advisory services and cloud computing solutions,” said Jim Nekos, CEO, Edge Technology Group. “Edge is thrilled to join the Thrive family as their client-first commitment is perfectly aligned with ours and their advanced cybersecurity, automation, collaboration and managed services platform will expedite our customers’ Digital Transformation journey.”

Through this acquisition, Thrive will now have over 1,000 employees serving clients around the world, solidifying their position as the leading technology outsourcing provider for the Financial Industry. Edge Technology Group marks the fourth acquisition by Thrive in 2022 and cements Thrive’s global position as a leading technology provider delivering end-to-end managed services and unmatched expertise to drive secure digital transformation.

Canaccord Genuity served as the exclusive financial advisor to Edge. Dechert LLP served as legal counsel to Court Square Capital. Alliance Bernstein, Morgan Stanley, NXT, Northwestern Mutual and Churchill provided financing for the transaction.

For more information on Thrive, visit thrivenextgen.com.

About Thrive

Thrive is a leading provider of NextGen managed services designed to drive business outcomes through application enablement and optimization. The company’s Thrive5 Methodology utilizes a unique combination of its Application Performance Platform and strategic services to ensure each business application takes advantage of technology that enables peak performance, scale, and the highest level of security.

For more information, thrivenextgen.com.

Thrive: LinkedInTwitterFacebookYouTube and Instagram

About Edge Technology Group

Edge Technology Group is a sector-focused consultancy, exclusively representing alternative investment managers globally. Edge offers fully managed IT services and complete cloud solutions. The company delivers immediate, flexible and proprietary solutions that satisfy the needs of hedge funds, private equity firms, family offices and asset managers worldwide. Edge has 8 locations across Asia Pacific, Europe and the US, including Singapore, Hong Kong, Sydney, London, New York, San Francisco, Austin and Greenwich, CT.

About Court Square

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 235 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.0 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.

MEDIA CONTACT: MEDIA CONTACT: Patrick Reilly – Zer0 to 5ive, for Thrive 732-687-4683 | patrick@0to5.com

ORIGINAL SOURCE: https://thrivenextgen.com/thrive-acquires-edge-technology-group-to-become-the-leading-cybersecurity-managed-services-provider-for-the-global-financial-community/

Cuba Burch Berner

Cuba Burch Berner is an Associate at M|C Partners, where he focuses on investment opportunities in digital infrastructure and technology services. Prior to joining the firm in 2022, Cuba was an Equity Research Associate at Citi covering infrastructure companies within the telecommunications industry, including data centers and wireless towers. He holds a B.S. in Mathematics with a specialization in Economics from the University of Chicago. Cuba currently lives in Boston’s West End and enjoys  a myriad of outdoor activities including running, swimming, hiking, and skiing.

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2022

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AccentHealth

AccentHealth operates an out-of-home advertising network that reaches over 12,000 physician office waiting areas in the U.S. – JOHN WATKINS

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IT SERVICES

James F. Wade

Jim Wade co-founded M/C Partners in 1986 with Dave Croll. He has been investing in communications and technology services since the advent of wireless and broadband, cornerstones of the firm’s sector focus. As a founding managing partner, he manages the firm’s investment process, and continuously seeks out management teams, company prospects and financial resources to grow the portfolio. Jim’s successful track record includes MetroPCS (IPO), Lightower Holdings (acquired by Berkshire Partners), Triad Communications (acquired by T-Mobile), Brooks Fiber Properties (IPO and sale to AT&T Wireless), Cavalier Telephone (acquired by PAETEC), NuVox Communications (acquired by WindStream), Attenda (acquired by Darwin Private Equity), Melita (acquired by Apax Partners), PR Wireless (joint venture with Sprint affiliate in Puerto Rico), Thrive Networks (acquired/recapitalized by Court Square) and Involta (acquired by Carlyle Group). Today he serves as a director on the Board of Connectivity Wireless and has responsibility for Omega Wireless. Jim graduated from the University of Notre Dame a B.B.A in Finance and received an MBA from Harvard Business School. He lives outside Boston with his wife and four children. Jim was an avid boater and is now an average golfer.

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1986

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Connectivity Wireless

 

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Involta

Abhishek Rampuria

Abhishek (A.B.) is a Partner at M/C Partners, where he leads origination, deal diligence and portfolio company support for investments in a variety of communications and technology services segments. He currently serves on the Board of Ascend Technologies, Connectivity Wireless, Edafio Technology Partners, TowerCom and serves as a Board Observer for Thrive Networks. A.B. previously served as a Board Observer for Ensono (acquired by KKR) and QOS Networks (acquired by Zayo). Prior to joining M/C Partners in 2015, A.B. worked at Altman Solon (formerly Altman Vilandrie), a technology, media & telecommunications focused strategy consulting firm, where he completed projects for both operating companies and private equity investors. A.B. received a B.S. in Materials Science & Engineering from the Massachusetts Institute of Technology. He lives in Boston’s South End and outside of work, enjoys skiing, cycling, traveling and cheering on his home-town Patriots and Celtics.

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2015

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Thrive Networks

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Ascend Technologies
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