Thrive buys IT service provider Edge Technology Group

• Thrive is a provider of cybersecurity and digital transformation managed services
• Canaccord Genuity served as financial advisor to Edge while Dechert LLP served as legal counsel to Court Square
• Founded in 2007, Edge serves more than 300 hedge fund, asset managers, private equity, REIT and wealth management clientele

Thrive has acquired Connecticut-based Edge Technology Group, a global technology advisory and fully-managed IT service provider for alternative investment managers. No financial terms were disclosed.

Founded in 2007, Edge serves more than 300 hedge fund, asset managers, private equity, REIT, and wealth management clientele. Edge Technology Group has 265 employees that include a team of client-centered IT strategists and engineers.

“Edge Technology Group is the leading Financial Industry MSP in the world,” said Thrive CEO Rob Stephenson, in a statement. “Their talented engineering and account management teams will now have access to the thrive automation platform and our 24x7x365 comprehensive suite of cybersecurity SOC services to enhance the Edge client experience.”

Edge Technology Group marks the fourth acquisition by Thrive in 2022.
Canaccord Genuity served as financial advisor to Edge while Dechert LLP served as legal counsel to Court Square Capital. Alliance Bernstein, Morgan Stanley, NXT, Northwestern Mutual and Churchill provided financing for the transaction.

Edge has eight locations across Asia Pacific, Europe and the US, including Singapore, Hong Kong, Sydney, London, New York, San Francisco, Austin and Greenwich, Connecticut.

Founded in 1979, Court Square is a middle market private equity firm. The firm has $7 billion of assets under management and is based in New York.