Author Archives: Megan Carnes

Welcome back to another installment of our “Thrive Spotlight” blog series.

Our featured employee is Mark Kerchoff, a Cloud Architect, Platform. In his role, Mark helps design systems for Thrive clients and implements and troubleshoots the more complex environments.

Mark lives in New Canaan, Connecticut, and is primarily based out of the Greenwich office but occasionally frequents the NYC office. Mark’s downtime perfectly blends beats, sports and tasty treats. He is passionate about live music, and you’ll usually find him at rock & roll or jam band shows. Outside the music scene, Mark is the go-to soccer and tennis dad, cheering on his three sports-loving sons. He also enjoys all things culinary – cooking and eating delicious meals.

Hi Mark! Can you tell us about your background and how you came to Thrive?

My career started in April 2000 at a small Managed Service Provider (MSP) catering to hedge funds. Subsequently, I transitioned to working directly with hedge funds before finding my way to Amaranth Group. Following the closure of Amaranth Group, the IT team evolved into Edge Technology, where I’ve been an integral part of the team for an impressive 16 years. In the most recent chapter, Edge Technology has seamlessly integrated into the Thrive family, marking a year of exciting collaboration under the Thrive umbrella.

Where did you go to school or get training?

I earned my education at Northeastern University in Boston; a foundation complemented over the years by various certifications from Microsoft and VMWare. This continuous commitment to learning has been instrumental in shaping my expertise.

What do you most enjoy about working for Thrive?

Though relatively new to the Thrive family, I’m genuinely impressed by the people. The collaborative spirit and enthusiasm among team members create an environment where everyone is not just willing but eager to come together, ensuring that tasks are done efficiently and effectively.

Are there any recent exciting projects at Thrive you can tell us about?

A project that holds significant promise and excitement is related to the Edge Technology acquisition. We are actively involved in streamlining and consolidating data centers, a venture that aligns with Thrive’s commitment to innovation and excellence. It’s an exciting opportunity to contribute to the growth and success of the company in a dynamic and evolving tech landscape.

Are you interested in learning more about Thrive? Click here!

And don’t forget to follow us on Twitter and LinkedIn for the latest news, and continue checking our blog for more in our “Thrive Employee Spotlight” series. Until next time…

In the aftermath of our previous blog on cyber-attacks targeting the legal sector in the UK, we delve deeper into the latest assaults, shedding light on the dire consequences and offering insights on bolstering cyber defences to avert severe business disruptions. This article unveils recent attacks on law firms and the high stakes for failing to take adequate safety measures.

The Allen & Overy Saga: A High-Profile Confrontation

The most high-profile recent victim is Allen & Overy – the UK “magic circle” law firm that fell prey to the notorious Russian ransomware group Lockbit. This London-based legal giant, founded in 1930, is the 7th largest integrated law firm globally, with approximately 5,500 employees and 500 partners across 31 nations. Allen & Overy was in the process of merging with Sherman & Sterling and faced a cyber onslaught that threatened to expose sensitive data. The merger was to create a 4,000-lawyer firm with 800 partners across 48 offices by May 2024. Lockbit added Allen & Overy to its victim list in early November 2023, claiming they had acquired their data and planned to publish it soon.

Prompt action by external cybersecurity experts helped isolate and contain the breach, sparing the firm’s core system data, email, and document management systems. Weeks later, as forensic investigations and remediations unfold, the firm continues to operate with limited disruption, underscoring the importance of swift and well-planned responses to such threats. The speed of response by Allen & Overy and the additional remediation and planning after the attack were critical to avoid catastrophic data loss.

Dire Warnings for Legal Businesses

Lockbit, the group behind the Allen & Overy attack, should be considered a significant threat. The National Cyber Security Centre (NCSC) labelled Lockbit as the most deployed ransomware in 2022, emphasising the devastating impact of their attacks. NCSC Director of Operations Paul Chichester urges organisations to comprehend the severe consequences of ransomware assaults on operations, finances, and reputation: “It is essential for organisations to understand the serious consequences that ransomware attacks can have on their operations, finances, and reputation.”

Since January 2020, entities of various sizes operating within critical infrastructure sectors such as finance, food and agriculture, education, and healthcare have experienced attacks from Lockbit affiliates utilising diverse tactics and methods. The wave of Lockbit’s widespread attacks across these critical infrastructure sectors reinforces the urgency for heightened cybersecurity measures.

Legal Sector in the Crosshairs

Legal firms have long been prime targets due to their safeguarding of sensitive client data. Past incidents, such as the £5 million ransomware attack on Ince in July 2022 and the 2021 assault on Simplify Group, the UK’s largest conveyancing company, highlight the sector’s vulnerability.

Simplify Group’s breach, resulting in a month-long system shutdown, showcasing the significant financial implications and potential fallout for law firms facing cyber threats. Vendors and buyers were left in turmoil for up to a month, unable to finalise any transactions. As for affected data, current and former staff members from conveyancing firms using Simplify were impacted by this breach. However, there is no indication customer data was stolen. Simplify had a class action lawsuit filed against them by other law firms on behalf of outraged clients, resulting in potential financial liability and implications.

Multi-Million Costs and Business Implications

Simplify Group’s annual report reveals the attack’s direct costs amounting to £7.3 million, partially covered by insurance. The incident prompted discussions with capital providers to safeguard the company’s long-term funding and capital structure. Indirect costs, including a reduction in client intake for ten weeks while remediation occurred, profoundly impacted the firm’s financial performance.

This severely affected the results for that financial year, when the company was otherwise on track to complete a record number of cases. Shareholders injected £15 million for post-breach recovery, underscoring businesses’ substantial challenges after cyber incidents.

Regulatory Scrutiny and Urgency for Preparedness

While Simplify immediately engaged a leading cyber response team, being prepared ahead of time is necessary in this dangerous era of cyber threats. In August 2023, the ICO reprimanded Durham law firm Swinburne Snowball & Jackson (SSJ) for not having sufficient protections in place and not being aware it needed to report data breaches to the ICO.

An employee’s Outlook email account was targeted in a spear phishing attack, impacting payments to beneficiaries of a probate case. The first breach was on January 11, 2021, but SSJ only became aware three days later, and the account’s password was changed on January 15. Following the incident, SSJ notified its data insurer, the Solicitors Regulation Authority (SRA), and the ICO after 11 days. SSJ faced repercussions for lacking sufficient protections and delayed reporting of that spear phishing attack.

SSJ did not have multi-factor authentication (MFA) in place for the account, claiming that its IT contractors had not previously recommended doing so despite various bodies, including the National Cyber Security Centre (NCSC), SRA, and Law Society, advocating for strong authentication measures.

The ICO also criticised SSJ for failing to comply with GDPR obligations regarding secure personal data processing to ensure ongoing system security and confidentiality and urged training while providing standard non-compulsory recommendations on governance, identity and access controls, technical control selection, staff training, and supply chain security. They warned, “If further information relating to this matter comes to light, or if any further incidents or complaints are reported to us, further regulatory action may be considered.”

A Call to Action: Strengthening Cyber Defences

The SSJ case is a stark reminder of the repercussions of inadequate cybersecurity measures, while the Allen & Overy incident showcases the imperative of being proactive. At Thrive, we specialise in fortifying businesses against data theft risks. Contact us today to ensure your clients’ data remains secure in the face of evolving cyber threats.

The financial sector is bracing for a significant shift with the U.S. Securities and Exchange Commission (SEC) “Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure” rule taking effect on December 18, 2023.

As the deadline looms, financial firms must have mechanisms in place to comply with cybersecurity reporting and disclosure requirements on annual and periodic forms. 

What does this mean for your company?  

Public companies subject to the reporting requirements under the Securities Exchange Act of 1934 must disclose any cybersecurity incident that is “determined to be material”i and describe the material aspects of the incident on amended form 8-K within four business days of determining an incident was material. Additional periodic reporting is also required to disclose any previously unreported material cyber incidents or material “changes, additions, or updates” on quarterly report Form 10-Q or annual report Form 10-K, whichever is next in the reporting sequence.  

Furthermore, covered firms must also disclose information related to their processes for assessing, identifying, and managing material risks from cybersecurity threats, and whether any previously identified threats “have materially affected or are reasonably likely to affect” the entity.ii Finally, covered firms must disclose information related to the Board of Directors (or Executive Committee, as applicable) oversight of cybersecurity risk in annual reporting (Section 106(c) on Form 8-K).  

In order to facilitate effective reporting that satisfies the new regulatory requirements while also protecting the business, entities must have visibility into the cyber threat vectors impacting their business. This enablement requires a cohesive and integrated suite of data security and cybersecurity solutions including data governance, endpoint threat detection, network threat detection, cloud security monitoring/threat detection, logging, and 24×7 security monitoring.   

It’s crucial to acknowledge that the deadline is a call to action for registered financial firms who must begin complying with the reporting requirements in the next reporting cycle. In this blog post, we’ll delve into the critical aspects of the new SEC rule, address FAQs and explore how Thrive can provide solutions and guidance to navigate this new landscape. 

Understanding the SEC’s Cyber Risk Management Rules 

The SEC’s recent rule update emphasizes the need for robust cybersecurity monitoring and reporting measures from both a technical product and corporate process perspective –. The December 18th deadline is significant, highlighting the urgency for firms to enhance their cybersecurity posture and reporting mechanisms. 

FAQs: Decrypting the SEC Cybersecurity Rule 

Q1: Why is Detection and Response Crucial? 

A1: Detection and response are paramount in the new SEC cybersecurity landscape. Quick correlation of incidents is vital for containing and mitigating threats before they materially impact the business and/or clients and investors. According to the 2023 Verizon Data Breach Investigations Report, approximately 60% of incidents were discovered within days. However, 20% could take months or more before organizations realized something was amiss, which poses a significant risk. These findings showcase the importance of proactive oversight, tools and collaboration with Managed Security Service Providers (MSSPs). Furthermore, without a clear understanding of an active threat and associated impact, proper regulatory reporting and client disclosures becomes a harrowing process. 

Q2: I’m Not Sure What Our Current Capabilities Are – What Steps Can We Take? 

A2: SEC-based readiness assessments can assist with identifying IT compliance alignment with SEC rules and provide clarity for strategy development around any areas of improvement. This process will help identify gaps in cybersecurity measures and lay the groundwork for effective compliance strategies. Managing your assessment output and strategic initiatives through our vCISO service is a powerful combination that can deliver lasting results while creating business value.  

Q3: How Can Thrive Assist in SEC Compliance? 

A3: Thrive, a Managed Security Service Provider (MSSP) with over two decades of experience in financial IT, stands as a trusted partner in navigating SEC cybersecurity rules. Our dedicated POD approach combines technical and industry expertise, ensuring positive outcomes. Thrive offers a wide range of services, including SEC Readiness Assessments, Managed Detection and Response (MDR) and Security Operations Center (SOC) services, incident response planning, policy development, IT compliance and vCISO advisory. Having a defined corporate governance committee responsible for IT compliance is also integral to fulfilling the new rule requirements. 

Thrive’s Solutions for SEC Compliance 

Thrive’s comprehensive suite of services addresses the specific needs outlined by the SEC: 

• SEC-Readiness Assessments: Identify alignment with SEC IT Compliance requirements and define a tailored strategy to improve your firm’s posture. 
• Managed Detection and Response: Leverage our SOC to enhance your organization’s threat detection, investigation, and containment capabilities. 
• Incident Response Planning & Policy Development: Establish robust incident response protocols and policies aligned with SEC guidelines. 
• vCISO Advisory: Thrive is a trusted security advisor, aiding in committee definition and fulfilling the new rule requirements. 

Prepare Today for a Secure Tomorrow 

Thrive’s wealth of experience and tailored solutions position us as a reliable partner in navigating this complex landscape.  

Fill out the form below to contact Thrive today to discuss how we can support and enhance your IT Compliance transformation initiatives.

Welcome back to another installment of our “Thrive Spotlight” blog series.

Our featured employee is Justin Tourtelotte, EVP, Project Delivery & Business Operations. Justin creates, implements, and manages Thrive’s customer onboarding processes. He focuses on creating protocols that can scale, enabling Thrive team members to do their jobs efficiently, and satisfying clients to the highest level.

Justin’s home in Duxbury, Massachusetts, is always abuzz with his wife, four kids, a dog and a cat. Justin and his family enjoy living close to the shore for spontaneous and fun days on the beach or water.

Hi Justin! Can you tell us about your background and how you came to Thrive?

Bill Burke, the VP of Revenue Integration, referred me to Thrive. Bill and I used to play Men’s League Hockey together and he thought I would be a great match for a new role at Thrive as the Technical Director of Onboarding.

This was precisely the work I was already doing for the last 16 years at Eze Software, which sold trading order management systems to Asset Managers.  I directed specialized consulting and engagement teams that project-managed and configured software implementations. My team building, project management, and software design background have been applicable in the managed services business as there was a need to structure project implementation processes and improve the use of internal tools.

Where did you go to school or get training?

I studied Computer Science and Business Management at Providence College for my undergraduate degree and received my MBA in Technology and Innovation from Northeastern University.

What do you most enjoy about working for Thrive?

I thoroughly enjoy implementing innovative solutions and operational processes with Thrive colleagues. The diversity and range of skills across these individuals create a fun and collaborative environment to work in. We are an agile group that works hard to do things correctly and develop processes that scale with growth. I love building an organization from the ground up and putting my team members in a position where they can be successful and grow with the business.

Are there any recent exciting projects at Thrive you can tell us about?

Recently, we have spent time enhancing our project management tools in ServiceNow. We have made significant progress building implementation templates for as many Thrive Services as possible. These implementation templates allow for consistent deployment, documentation, and support handoff practices to be followed by all parties. This makes onboarding new business units accessible and brings employees up to speed on Thrive services and our core processes.

Are you interested in learning more about Thrive? Click here!

And don’t forget to follow us on Twitter and LinkedIn for the latest news, and continue checking our blog for more in our “Thrive Employee Spotlight” series. Until next time…

A devastating storm of cyber attacks is raining down on the British law industry. Considering its over 230,000 solicitors and legal executives handling delicate data on client mergers, acquisitions, and general legal proceedings, these attacks have a distinctly devastating impact on the UK legal field.

In a recent review, the Solicitors Regulation Authority (SRA) identified that, since 2020, cyber attacks had targeted 75% of law firms, resulting in a devastating loss in 23 out of 30 businesses, having lost more than £4 million. In this blog, Thrive sheds light on the magnitude of this destruction and guides you in effectively safeguarding your sensitive client information against such attacks.

Rising Threat: UK Law Firms Face Surge in Data Breaches Amid Shift to Remote Work

Data breaches are not a new threat for law firms, but they are exploding in prevalence. According to the Equality & Human Rights Commission (CRC), 73 of the UK’s top 100 British law enterprises have been targeted, rising from 45% in 2018-19 to 73% in the most recent financial year.

A substantial shift in the work/life balance in the UK prompted by the Covid-19 pandemic has been the critical factor to this trend. The pandemic forced over 60% of companies to transition to Cloud-based work, a trend that has continued into the post-Covid era. As a result, storing more client information online makes law firms extremely attractive online targets.

UK Law Firms Face 4,000 Daily Cyber Attacks, Costs Surge

90% of the top UK law firms have personally experienced this threat – 55% of which faced viruses and other malware, and 16% of which faced extreme attempts to hack into their company’s network. To put this into context, over 4,000 cyber attacks are launched every day. This equals 170 every hour and almost three every minute. Law firms must protect themselves and their clients against this vastly underestimated but dangerous threat.

The shift to remote online working has also impacted the costs of such a breach. Attacks that previously cost companies £2.8 million now cost £3.57 million due to the sheer quantity of online client data. The overall rise in data breach costs is 10%, with the average weighing around £3.05 million.

These numbers refer to the larger law firms, but what about SMEs in the legal sector?

Cyber Attacks Costing Unprepared Firms an Average of £150,000

SMEs are equally exposed to cyber attacks, as they’re perceived as easier targets by hackers who assume they do not have the measures to handle them. Small or medium law businesses could unwittingly be exposed to these well-orchestrated attacks simply because they are unaware of the costs that other law firms are facing.

The average data breach cost for businesses of this size is £310,000. Still, if the company is unprepared, it can cost additional billable hours to seek help from experts to investigate the cyber breach, notify victims, and take extra preventive measures to avoid future attacks. The SRA has shown that this number can reach around £150,000 for unprepared firms.

Although becoming steadily less commonplace, many SMEs have minimal pre-emptive measures to deal with such an attack. Typical law firm cyber attacks have previously been initiated through an item of hardware with old, unpatched software on it. This is the ‘open window’ that allows attackers to gain entry to systems. The impact on other companies in the field has seen the entirety of a firm’s data locked, resulting in a hefty ransom demand to allow the company to continue working.

These real-life examples of legal businesses did not have an adequate cyber incident response plan in place, which resulted in the companies ultimately floundering and seeking urgent help from their IT support teams and local police. Some situations were so dire that paying the ransom seemed the only option. This cements the need for a standalone cyber insurance policy, disaster recovery plan and employee cyber awareness training.

Magic Circle Attack

A recent case of this occurring is that of London-based Allen & Overy, the latest major ‘magic circle’ corporation attacked by ransomware hackers. They announced this incident following posts on X (formerly Twitter), claiming hacker group Lockbit had targeted the prominent firm, threatening to publicise sensitive files.

Lockbit is a hacking group notorious for locking access to government and corporate networks and demanding payment in return for not publishing private data and correspondence, such as the high-profile Royal Mail hack in January we previously blogged on – blocking its access to data until payment. Thankfully, Allen & Overy had a technical response team in place and an independent cyber security adviser on standby to aid in the containment and isolation of the attack. This resulted in minimal affected client data, not impacting their email or document managing system – all thanks to the preventive measures they had taken.

In another similar case, Gateley, a UK Top 50 firm whose cyber team quickly identified an intrusion and acted immediately, securing all systems. The firm did state that it was confident that its IT support had successfully limited the impact of the cyber attack and did not foresee any evidence of a material effect on the company’s financial performance, with just 0.2% of its data affected.

NCSC Best Practices for Cybersecurity

Published advice from the NCSC is that companies should ensure they back up important data regularly and use offline storage facilities, which render a degree of protection against ransomware and other cyber threats. Multifactor authentication is, as ever, recommended, as well as ensuring the least privileged access to safeguard against potential attacks.

However, to ensure that the best measures are put in place for your business, a thorough risk assessment should be performed – identifying weak points in your business and prioritising cybersecurity investments. Employees should be comprehensively versed on your firm’s threats and the best action when dealing with them.

Best practice includes enforcing user access controls and ensuring that businesses and their employees have strong password policies, significantly minimising the risk of unauthorised access. A significant risk to SMEs that fail to safeguard their clients’ data in these ways is that of legal challenge – with consequences ranging from client lawsuits to fines from the ICO.

If this blog has caused you to reflect upon the readiness of your firm when tackling this genuine threat, don’t hesitate to contact Thrive.

We are highly experienced in working alongside SMEs in your sector to reach absolute security in the face of data breaches and similar recent threats. We can help you guarantee your business’s and its employees’ safety by staying ready against these ever-growing risks.

Welcome back to another installment of our “Thrive Spotlight” blog series.

Our featured employee is Megan Allenbach, Business Operations Strategist. In her role, Megan focuses on corporate strategy and initiatives, working with leadership to create and enhance process, while also managing various internal projects.

Megan was born and raised in Southeastern PA and currently lives in South Jersey with her husband and kids. When she’s not working, you can find Megan shuttling her kids between dance, soccer, baseball and softball activities. She treasures any solo time while in transit and enjoys listening to audiobooks. Megan is a fan of Philly sports, Villanova basketball and enjoys hitting Ocean City, New Jersey, for some fun family time.

Hi Megan! Can you tell us about your background and how you came to Thrive?

Before Managed IT, I got started in telecom doing project management for voice & data services deployments, with a concentration in schools and municipalities. I joined Apex IT Group in 2015 and helped build a profitable project delivery team. From there, I was fortunate to join Thrive in 2021. This transition marked the beginning of a new chapter and a world of opportunity that continues to unfold.

Where did you go to school or get training?

I studied Business and Sociology at Villanova University. I am grateful for this education, my experiences there, and the network of alums who continue to motivate me and elevate my vision of professional success and personal fulfillment.

A few key mentors have been instrumental in shaping my development along the way. But possibly most influential is the continual training from my peers, especially the many talented engineers I have worked alongside, for patiently teaching me about managed networks & infrastructures, security, Cloud and the vast expanse I have yet to learn.

What do you most enjoy about working for Thrive?

There is something special about being a part of a company like Thrive. For me, entrepreneurship is the most inspiring element. I am continually influenced by the entrepreneurs whose vision, innovation, risk, grit, and determination have paved the way for Thrive’s success.

We have a keen advantage in working alongside dozens of intelligent and successful current or former business owners, each providing their unique experience and insight. Being part of something much more significant than each acquisition is exciting. The result is a powerful synergy that will continue to launch Thrive into the managed services stratosphere. All of this – all of us – are here today thanks to the enterprising abilities of successful entrepreneurs.

Also, I am proud to be a woman working in the IT industry. Incorporating different perspectives and ideas is critical when crafting processes and making decisions that will impact the business.

I have had the opportunity to help steer key issues here at Thrive and know that my input is valued. It is rewarding to contribute to meaningful conversations that directly impact the business.

Are there any recent exciting projects at Thrive you can tell us about?

In early 2023, I transitioned from Project Delivery to the BizOps Team. This came at an exciting time, as BizOps has grown in both size and reach to scale globally while continuing to meet the demands of the business. This year, I’ve had the opportunity to participate in the development of our Major Incident process. This core process is critical to our customers and internal teams alike and will prove invaluable to our continued success within the industry. I look forward building relationships with different teams, as we come together to refine and optimize our people, our processes and our data. #onethrive

Are you interested in learning more about Thrive? Click here!

And don’t forget to follow us on Twitter and LinkedIn for the latest news, and continue checking our blog for more in our “Thrive Employee Spotlight” series. Until next time…

Tech industry veteran joins Thrive to expand brand, culture, and influence

FOXBOROUGH, Mass. – November 15, 2023 – Thrive, a premier provider of Cybersecurity and Digital Transformation Managed Services, proudly announced today that tech industry veteran Kristina O’Connell has been appointed as the new Executive Vice President, Global Marketing. O’Connell is a pivotal force in driving Thrive’s commitment to global expansion and fortifying the company’s dominant position in the US, Europe, and Canada.

With a proven track record spanning over three decades in the tech industry, O’Connell brings to Thrive an unparalleled wealth of knowledge and expertise in brand development, creative innovation, and marketing strategy. Her unique insights and extensive experience have previously driven success in marketing leadership roles across diverse technology domains, including networking, storage, enterprise software, SaaS, and AI-powered software.

“We look forward to leveraging Kristina’s experience across all verticals with her strong track record of establishing and amplifying brands,” said Rob Stephenson, CEO at Thrive. “Thrive has a tremendous breadth of technology services, a comprehensive, world renown cybersecurity practice, a leading ServiceNow & Microsoft Digital Transformation platform and the best employees in the business, so we are excited Kristina is here to amplify that message to the market.”

Before joining Thrive, Kristina managed marketing at WiTricity, where she helped build and develop the market for electric vehicle wireless charging (B2B2C) from an MIT spin-out to commercialization. O’Connell served ExaGrid for a decade, defining brand and creative strategy in the Tiered Backup Storage enterprise market. At F5 Networks, she led the company’s worldwide marketing and was instrumental in helping F5 pioneer the load-balancing market from startup through IPO to #1 in global market share.

“I’m honored to be part of the Thrive team,” said O’Connell. “Thrive’s growth and reputation have earned high marks in the industry. Our customer’s experience is our priority, so the confidence they have in us, and our technology is where everything begins.”

For more information on Thrive, visit thrivenextgen.com.

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About Thrive

Thrive is a leading provider of NextGen managed services designed to drive business outcomes through application enablement and optimization. The company’s Thrive5 Methodology utilizes a unique combination of its Application Performance Platform and strategic services to ensure each business application achieves peak performance, scale, uptime, and the highest level of security. For more information, visit thrivenextgen.com.

Thrive: LinkedIn, Twitter, Facebook, YouTube and Instagram  

MEDIA CONTACT: 

Kristina O’Connell
Thrive
EVP, Marketing
koconnell@thrivenextgen.com
978.764.7960 

FOXBOROUGH, Mass.–(BUSINESS WIRE)–Thrive, a premier provider of Cybersecurity and Digital Transformation Managed Services, announced today the acquisition of 4IT, an award-winning South Florida-based Managed Service Provider in Miami, Florida. The acquisition confirms Thrive’s commitment to the Florida market, with its second acquisition in Miami within the past 2 years and fourth in Florida overall.

The acquisition positions Thrive as the definitive leader in Cybersecurity, Cloud & Managed Services for South Florida’s thriving economy

FOXBOROUGH, MASS. – November 8, 2023 – Thrive, a premier provider of Cybersecurity and Digital Transformation Managed Services, announced today the acquisition of 4IT, an award-winning South Florida-based Managed Service Provider in Miami, Florida. The acquisition confirms Thrive’s commitment to the Florida market, with its second acquisition in Miami within the past 2 years and fourth in Florida overall.

“4IT’s track record in managing intricate technology projects since 2003, coupled with two decades of South Florida service, has established an impressive benchmark and loyal clientele following,” said Rob Stephenson, CEO of Thrive. “The combination of the local 4IT team’s dedication to client excellence with Thrive’s global cybersecurity and Cloud capabilities will create a dominant player in the South Florida market.”

The union of 4IT and Thrive signifies a strong partnership to empower organizations in Miami and Fort Lauderdale. Together, they offer comprehensive 24x7x365 IT support, cybersecurity, Cloud solutions and IT services with an industry-leading track record in the financial services, legal, construction and hospitality spaces. Moving forward as one, Thrive’s mission is to guide these organizations securely through the intricate world of technology, ensuring they overcome challenges in creating business efficiencies via their digital transformation journeys.

“With over two decades of legacy in the Florida market, we are now determined to elevate our overall service, cybersecurity and Cloud solutions to new heights,” said Raymond Mobayed, Owner, and CEO of 4IT. “Our team seamlessly aligns with Thrive’s approach ensuring a perfect partnership to better serve our client’s complex technology requirements moving forward.

4IT is Thrive’s 20th Acquisition since 2016 and its Fourth in Florida. This transaction solidifies Thrive’s global presence and reinforces its status as a top-tier, comprehensive managed services technology provider.

For more information on Thrive, visit thrivenextgen.com.

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About Thrive

Thrive is a leading provider of NextGen managed services designed to drive business outcomes through application enablement and optimization. The company’s Thrive5 Methodology utilizes a unique combination of its Application Performance Platform and strategic services to ensure each business application achieves peak performance, scale, uptime, and the highest level of security. For more information, visit thrivenextgen.com.

Thrive: LinkedIn, Twitter, Facebook, YouTube and Instagram  

MEDIA CONTACT: 

Kristina O’Connell
Thrive
EVP, Marketing
koconnell@thrivenextgen.com
978.764.7960 

With a 20-year track record of supporting the strategic technology needs of private equity firms and their portfolio companies, Thrive offers a blend of managed services and consulting to ensure security, compliance, and performance. The firm’s President, Bill McLaughlin, outlines some of the significant changes in the PE space in the past year and the opportunities and challenges for tech in the next 12 months