Magna5, which is backed by NewSpring Holdings, has acquired Pittsburgh-based NetServe365, a managed services provider. No financial terms were disclosed.
PITTSBURGH and DALLAS, Nov. 16, 2017 (GLOBE NEWSWIRE) — Magna5, a portfolio company of NewSpring Holdings’ voice and data managed services platform, today announced its acquisition of NetServe365, an award-winning managed services provider.
Headquartered in Pittsburgh, NetServe365 specializes in network and server monitoring management, cloud hosting and IT consulting. The company’s fully managed IT security offerings combine certified expertise and advanced technology to supply powerful monitoring, management and incident response.
“Acquiring NetServe365 not only solidifies Magna5’s footprint, but also provides an invaluable level of security and risk mitigation to its more than 7,500 small-to-medium sized business customers across the country,” said Lee Garber, Principal at NewSpring Holdings. “Magna5 is purpose-built to answer the demand from middle-market companies that need enterprise-grade cloud services and high-touch support that, unlike the mega providers, is budget friendly.”
Magna5 brings together market-leading products, services, and solutions of three established telecommunications providers: X5 Solutions of Seattle, CornerStone Telephone Company of Albany, NY, and NovaTel Ltd. of San Antonio, TX. Since November of 2016, the companies have evolved into a national provider of network, managed IT and cloud services, unified under the Magna5 brand.
“The NetServe365 acquisition is a catalyst to Magna5’s transformative growth initiative and allows for Magna5 to layer in additional high-value products and services to our portfolio of offerings,” said Greg Forrest, CEO, Magna5.
Its expansive portfolio includes business voice and data services, hybrid network services, and unified communications (UCaaS), infrastructure (IaaS), and software (SaaS) delivered as services from the cloud.
“Teaming up with Magna5 allows NetServe365 to expand our services and solutions to a much broader customer base,” said NetServe365’s Chief Operating Officer Justin Cameron, who will continue on as the lead for the IT managed services business unit within Magna5. “In addition, we are excited to bring our products and knowledge to Magna5 and help strengthen their security offerings to the marketplace.”
Magna5 delivers network services, unified communications, and infrastructure technology to more than 7,500 mid-market enterprise customers nationwide, including leaders within the education, healthcare, government, financial services and beyond. Magna5 offers voice and data services, as well as a host of “above the net” cloud services and operates proprietary, secure network designed to leverage diversified carriers and infrastructure in targeted points-of-presence (PoPs) throughout the United States, a key strategy for network reliability. Headquartered in Dallas, Magna5 operates office and network facilities across the country, including Miami; Albany, NY; New York City; San Antonio, TX; Portland, OR; Los Angeles; and Seattle. Magna5 is a platform company of NewSpring Holdings, NewSpring Capital’s dedicated buy and build strategy. For more information, visit www.magna5global.com.
NetServe365 is a managed service provider that delivers a complete range of managed services, hosting options, security services and IT Consulting 24/7/365 from their fully staffed Operations Center, headquartered in Pittsburgh. With both domestic and international presence, NetServe365 offers managed services to businesses large and small. NetServe365 is committed understanding the structure, needs, and goals of customers to provide better service and results by acting as an extension of the client’s team to combine internal and external resources. The NetServe365 list of managed services includes security prevention and detection, data backup and recovery management, network management and support, server maintenance, IT monitoring, IT consulting services, cloud hosting options, and help desk support. Visit www.netserve365.com for more information.
About NewSpring Holdings
NewSpring Holdings, NewSpring’s dedicated holding company with a buy-and-build strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999 NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.