Magna5, a Pittsburgh-based national provider of managed IT services, announced it acquired a Philadelphia-based peer called Interphase Systems Inc. It marks the fourth acquisition in a little over a year for the company and the fifth managed services-specific acquisition in its history.
The companies did not disclose the financial terms of the deal nor could a representative from Magna5 be reached as of publication.
According to a Magna5 press release, the deal will expand the company's footprint and expertise. Interphase Systems primarily serviced the greater Philadelphia metro with an emphasis on catering to life sciences and financial services companies. Magna5's offerings touch on network management, cybersecurity, data recovery and cloud services.
"Our goal is to be a true business partner with our customers, helping them to scale their business operations efficiently and effectively by leveraging our portfolio of managed IT and cloud services," Bob Farina, CEO of Magna5, said in a press release. "We're very excited to welcome the Interphase Systems team and expand our presence in the greater Philadelphia region."
Back in May, Magna5 acquired North Carolina-based StableNet, another managed IT service provider. Before that in March, Magna5 acquired Boston-based TCG Network Services, which followed its May 2021 acquisition of New York-based SpinnerTech.
Magna5 is a NewSpring Holdings subsidiary company.
