Stamford IT managed services company Soundshore Technology Group (STG) has been acquired for an undisclosed amount by a Massachusetts provider of comprehensive managed IT, security and unified cloud management services.
Westwood-based Coretelligent, a portfolio company of private investment firm VSS Capital Partners, acquired another Stamford company, managed services IT firm SoundView IT Solutions, in November 2019.
STG, which supports alternative investment firms in Connecticut, New York City and Los Angeles, acts as the managed service provider for over 70 hedge funds, private equity/VCs, RIA firms and Family Offices nationwide.
The deal brings the two organizations collectively under the name Coretelligent, resulting in an expanded base of over 200 full-time employees and 500 clients nationwide.
“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,” said STG Managing Partner Eric Benda.
“Soundshore”™s focus of serving the financial services vertical industry aligns naturally with Coretelligent”™s client portfolio,” added VSS Managing Director Trent Hickman. “This acquisition further exemplifies VSS”™s focus of investing and building value by leveraging suitable growth opportunities that are additive to the platform company.”
