Upstack’s growth strategy is supported by a $ 50 million equity investment.
Upstack, the cloud and internet infrastructure sales agent and sourcing platform, continues its mergers and acquisitions frenzy with the acquisition of two consulting firms.
Upstack acquired Legacy Solutions, a telecommunications consulting company specializing in forensic audits of telecommunications expenses and supplier management. It also acquired Open Communications, an IT consulting company specializing in networks, CCaaS and UCaaS for businesses of all sizes, from small to medium businesses.
Upstack doesn’t say how much it pays for businesses.
Earlier this month, Upstack announced two new agent acquisitions, MOC4 Consulting and Idea Communications Group.
Getting the most out of equity investments
The acquisitions are part of Upstack’s strategy to accelerate the growth of its platform. It combines Internet infrastructure advisors with software and support resources.
Upstack’s growth strategy is supported by a $ 50 million equity investment from Berkshire Partners, announced in April. This allows the company to grow its platform through the expansion of technology and the acquisition of partners.
Nick Caruso is Head of Upstack’s Global Channels and Alliances.
âWe are always looking to extend the capabilities of the Upstack platform and further maximize the value we are able to deliver to our SMB and enterprise customers,â he said. âThe power of Upstack advisors is a combination of real world experience and complementary expertise. Legacy solutions and open communications help Upstack extend this expertise into areas such as forensic telecommunications audits, unified communications and contact centers.
Upstack can design and research any technology solution a customer might need, regardless of their business challenges, Caruso said.
âThe cross-sell and up-sell opportunities in the Upstack ecosystem are invaluable to our advisors and their clients, who seek to leverage industry expertise for evolving services such as cybersecurity, l cloud infrastructure, SaaS, IoT, artificial intelligence / machine learning, (AI / ML), 5G LTE, etc. “, did he declare.
Upstack continues to engage with the best agents as it continues to expand its platform, Caruso said.
Legacy Solutions, Open Communications Leaders Joining Upstack
Legacy Solutions co-founders Michael Sanders and Lauren Sanders, a father-daughter team, will join Upstack as partners and shareholders. They will also serve as advisors to corporate clients seeking data center, colocation, cloud, network connectivity and other technology solutions through the Upstack platform.
âThe Upstack philosophy resonated with me; they want to grow together and share success with their advisors, âsaid Michael Sanders. “They were also delighted to welcome Lauren to the team to support my succession plan.”
In addition, Open Communications Founder Amanda Heinritz will join Upstack as a partner and shareholder. She will also act as an advisor to business clients.
âUpstack not only had a clear understanding of what my business is and its value, but also provided a revolutionary technology platform that literally takes five steps out of our sales process, saving my team tremendous time.â , said Heinritz.