Fast-growing New York-based technology consulting firm Upstack has acquired the network and cloud sourcing business of Roseville's LinkSource Technologies LLC.
Founded in 1998, LinkSource offers data and hardware consulting services, applications development, cloud computing and regulatory compliant data services.
“We were approached by other investors, but it quickly became clear to us that Upstack was the best fit for our business and employees,” said LinkSource founder and CEO Curt Lewis, in a news release. "It came down to the people they have on board, what they're building and their business philosophy. It wasn’t just the dollar figure; we wanted a go-forward plan for growth and opportunity, and Upstack delivered."
Terms of the transaction were not disclosed. It is the 26th acquisition by Upstack since its launch in 2017.
In October, Upstack acquired NPG Solutions LLC, an independent technology and communications consultancy in New Albany, Ohio. That was Upstack's 25th partnership with independent tech consulting companies.
In November 2021, Upstack announced it received $100 million in financing from a subsidiary of New York-based MidCap Financial Investment Corp. (Nasdaq: MFIC) and Morgan Stanley Private Credit, a division of New York investment bank Morgan Stanley (NYSE: MS). Earlier that year, Upstack received a $50 million private equity investment from Boston-based Berkshire Partners, according to Upstack's website.
LinkSource CEO Lewis and President Jason Newbold remain invested owners in LinkSource, and they will continue managing a hardware sourcing business, to be known as LinkSource Systems, which will work in a strategic partnership with Upstack. LinkSource Systems consults with businesses in buying enterprise-level hardware like servers, networking gear and storage from a wide range of suppliers.
"Curt and Jason have built LinkSource into a unique and impactful technology management business that combines a traditional commissioned agency with a direct-billed managed services provider," said Upstack founder and CEO Christopher Trapp, in a news release. "The combination has earned loyal customers among some of the most well-known enterprise brands. We’re excited to bring those capabilities and customers under the Upstack umbrella."
