Comprehensive managed IT and private cloud services provider Coretelligent has acquired managed services IT firm Soundshore Technology Group (STG), which caters to alternative investment firms.
The value of the deal was not revealed. The combined group will adopt the Coretelligent brand.
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STG has more than two decades of experience in serving alternative investment firms in Connecticut, New York City and Los Angeles. These include over 70 hedge funds, private equity/VCs, RIA firms and family offices in the US.
Coretelligent founder, president, and CEO Kevin Routhier said: “We’re delighted to welcome the Soundshore team and their world-class clientele to the Coretelligent family.
“The shared commitment to delivering a superlative IT experience to our collective clients made bringing the two firms together a natural decision.”
“The acquisition of STG greatly compliments and further strengthens Coretelligent’s iron-clad platform and unparalleled expertise in the Financial Services Sector.”
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By GlobalDataThe deal will expand Coretelligent’s full-time staff headcount to more than 200 and its client base to over 500.
Soundshore managing partner Eric Benda said: “With our acquisition through Coretelligent, we’ll be able to provide our client base enhanced solutions and offerings, strengthening the combined companies’ positioning for future success.”
A portfolio company of private investment firm VSS Capital Partners, Coretelligent previously acquired United Technology Group and SoundView IT Solutions.
VSS invested in Coretelligent in October 2016.
VSS managing director Trent Hickman said: “Soundshore’s focus of serving the financial services vertical industry aligns naturally with Coretelligent’s client portfolio.
“This acquisition further exemplifies VSS’s focus of investing and building value by leveraging suitable growth opportunities that are additive to the platform company.”
