Francisco Partners has completed the acquisition of a stake in ShoreGroup Inc. No financial terms were disclosed. Headquartered in New York City, ShoreGroup is a managed services company.
SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)–Francisco Partners, a global technology-focused private equity firm, announced the closing of its strategic investment in ShoreGroup, Inc., a leading provider of software and managed services to support network infrastructure. The growth equity investment from Francisco Partners will support the next phase of ShoreGroup’s growth in partnership with the company’s current leadership team.
“We are excited to consummate this important relationship with Francisco Partners,” said Robert Veghte Kennedy, ShoreGroup’s President and CEO. “Francisco Partners will provide the financial and operational resources, strategic perspective, and industry expertise to help us strengthen our offerings and deliver best-in-class service to our global customer base.”
“It is our privilege to be partnering with the leadership team and employees of ShoreGroup,” said Andrew Kowal, a partner with Francisco Partners. “We look forward to supporting ShoreGroup as the company builds upon its rich technical capabilities and enters the next phase of its strategic expansion.”
ShoreGroup provides its CaseSentry software platform and ShorePatrol managed services offering to leading corporations, cloud and hosted solution providers, and government agencies. The company assists organizations in reducing their IT operating costs and increasing their systems availability, while optimizing their unified communications, contact center, virtualized data center and network assets.
Financial terms of the transaction were not disclosed.