FOXBOROUGH, Mass., July 11, 2019 /PRNewswire/ -- Thrive, a premier provider of Next Generation Managed Services, proudly announced today that it has acquired Tier1Net of Woburn, MA, a Financial Services sector focused Managed Services Provider. Tier1Net is now the fifth company to be acquired by Thrive under private equity owner, M/C Partners, along with Corporate IT Solutions of Norwood, MA, Precision IT Group of New York, NY, BizCompass of Westbrook, ME, and InfoHedge Technologies of New York, NY.
The acquisition of Tier1Net further strengthens Thrive's New England Financial Services expertise with a strong and a talented engineering staff and extensive vertical industry knowledge. Tier1Net's commitment to the Financial Services aligns well with Thrive's long history of providing world-class next generation services to optimize the performance of financial business applications.
"We're extremely excited to be partnering with Tier1Net to expand Thrive's Financial Services practice in New England. Their long-term, loyal customers will be well-served by the combination of Thrive's enhanced suite of Cybersecurity, Public, Private & Hybrid Cloud Next Generation Managed Services, along with Tier1Net's Financial Services knowledge and commitment," stated Rob Stephenson, Chief Executive Officer of Thrive.
"The combination of Thrive and Tier1Net is truly a technology gamechanger for New England Financial Institutions," added Marc Capobianco, Tier1Net Chief Executive Officer. "The expanded product and services capabilities that our clients will gain as a result of this transaction will benefit them all. It's a pleasure to be joining this first-class organization that has become one of the leading MSPs in the Northeast."
Mr. Capobianco, Founder and Chief Executive Officer of Tier1Net, will join Thrive as an Executive Vice President and managing partner leading the New England & Corporate FinTech Practice. Matt Chabot, Co-Founder and Chief Technology Officer of Tier1Net, will also become a Thrive executive in a senior technology role reporting to Mr. Capobianco and overseeing the New England Financial Services practice.
"The acquisition of Tier1Net marks another advancement of growth in Thrive's strategic mission," said Gillis Cashman, Thrive's Chairman and Managing Partner at M/C Partners. "As the fifth acquisition that M/C Partners has overseen for Thrive, we are thrilled at the opportunity to continue to capitalize on their success as the leading Next Generation Managed Services Provider."
Thrive is a leading application enablement provider for Enterprises in a Cloud and SaaS-based world. As one of the largest Managed Services Providers in the United States, Thrive optimizes business application performance with their Suite of Next Generation Managed Services, which include Public, Private & Hybrid Cloud management, Cybersecurity, Networking, Disaster Recovery and more. Thrive's Next Generation Platform helps compliance-driven businesses solve complex IT problems by delivering peak application performance around the globe, 24×7. For more information, visit http://www.thrivenetworks.com
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