Thrive announced that it has acquired Connecticut-based Edge Technology Group, a 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.