Press Release
Thrive Acquires Edge Technology Group to Become the Leading Cybersecurity Managed Services Provider for the Global Financial Community
Edge Technology Group will help introduce Thrive’s award-winning Cyber, Cloud & Automation Platform into Asia while amplifying their existing North American & UK Operations
FOXBOROUGH, Mass. – June 30, 2022 – Thrive, a premier provider of Cybersecurity and Digital Transformation Managed Services, announced today that it has acquired Connecticut-based Edge Technology Group, a leading global technology advisory and fully-managed IT service provider for alternative investment managers. The acquisition of Edge Technology Group adds new global offices and data centers across the United Kingdom, Australia, Singapore, Hong Kong, and the Philippines, strengthening Thrive’s international presence for all customers. Edge clients, including hedge funds, private equity firms, family offices, and asset managers across the world, will now benefit from Thrive’s next-generation managed cybersecurity, collaboration, and cloud services.
Founded in 2007, Edge is a global technology advisory and fully managed Financial Services IT service provider that provides advisory services and cloud computing solutions to alternative investment managers. Edge serves more than 300 hedge fund, asset managers, private equity, REIT, and wealth management clientele, providing public cloud configurations that are designed to address the distinct business needs of this disparate client base. 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 Rob Stephenson, Thrive’s CEO. “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.”
“As a founder-owned managed services provider, we are fully immersed in advancing clients’ alternative investment practices via our IT advisory services and cloud computing solutions,” said Jim Nekos, CEO, Edge Technology Group. “Edge is thrilled to join the Thrive family as their client-first commitment is perfectly aligned with ours and their advanced cybersecurity, automation, collaboration and managed services platform will expedite our customers’ Digital Transformation journey.”
Through this acquisition, Thrive will now have over 1,000 employees serving clients around the world, solidifying their position as the leading technology outsourcing provider for the Financial Industry. Edge Technology Group marks the fourth acquisition by Thrive in 2022 and cements Thrive’s global position as a leading technology provider delivering end-to-end managed services and unmatched expertise to drive secure digital transformation.
Canaccord Genuity served as the exclusive financial advisor to Edge. Dechert LLP served as legal counsel to Court Square Capital. Alliance Bernstein, Morgan Stanley, NXT, Northwestern Mutual and Churchill provided financing for the transaction.
For more information on Thrive, visit thrivenextgen.com.
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 takes advantage of technology that enables peak performance, scale, and the highest level of security.
For more information, thrivenextgen.com.
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About Edge Technology Group
Edge Technology Group is a sector-focused consultancy, exclusively representing alternative investment managers globally. Edge offers fully managed IT services and complete cloud solutions. The company delivers immediate, flexible and proprietary solutions that satisfy the needs of hedge funds, private equity firms, family offices and asset managers worldwide. Edge has 8 locations across Asia Pacific, Europe and the US, including Singapore, Hong Kong, Sydney, London, New York, San Francisco, Austin and Greenwich, CT.
About Court Square
Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 235 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.0 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.
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