UPSTACK, a profitable, fast-growing platform that transforms the architecture and sourcing experience for businesses seeking cloud and internet infrastructure solutions, announced today that it has acquired idea! Communications Group Inc., a network and IT consulting firm specializing in solving technology problems for medium and large enterprises worldwide. The terms of the transaction were not disclosed.
UPSTACK's acquisition of Colorado-based idea! Communications Group is part of the company's strategy to accelerate the growth of its industry-transforming platform, which combines leading internet infrastructure advisors with proprietary software and support resources.
The growth strategy is supported by a $50 million equity investment from Berkshire Partners, announced in April, which will enable the company to continue to scale its platform through technology expansion and partner acquisitions.
As part of the deal, idea! Communications Group Co-founders David Garrick and Frank Ferdowsian will join UPSTACK as Partners and Managing Directors, as well as true equity stakeholders. They also will serve as advisors to business customers that are sourcing data center, colocation, cloud, network connectivity and other technology solutions through the UPSTACK platform.
"idea! Communications Group is a welcome addition to the UPSTACK team," said Christopher Trapp, CEO of UPSTACK. "David and Frank built a thriving business on doing what's right for their customers. Their 'customers-before-company' mindset backed by tenured experience designing complex network, communications and IT solutions will help drive UPSTACK's success going forward."
Long before they were partners, Garrick and Ferdowsian worked together selling major accounts at Qwest (now Lumen). In the aftermath of Qwest's in-region spinoff to Touch America, the pair were laid off together. The situation was a blessing in disguise for the two sales pros who had philosophical differences with their boss' company-first stance. After validating the concept with a few clients, they decided to team up to form idea! Communications Group, a customer-focused IT firm specializing in solving business technology problems.
"When layoffs happen, normally people look for jobs," said Ferdowsian. "We looked at each other, bought two laptops, and started our own business."
Garrick and Ferdowsian have been approached by potential buyers many times over the years but were put off by being asked to walk away from the business.
"Our customers are our friends; our relationships extend beyond business. We cannot in good conscience take a payout, walk away and leave our customers in the hands of someone else that will not offer the same level of service we provide," said Ferdowsian. "UPSTACK was different. They shared our customer-first passion and didn't ask us to walk away, they wanted to help grow our customer relationships further."
"UPSTACK asked us to be a part of the company to help continue to grow it," said Garrick. "Plus, they offer the additional infrastructure around us to create new layers of customer service that provide an enhanced level of support, so we know that our customers will always be taken care of."
About idea! Communications Group
idea! Communications Group Inc. leverages decades of experience to deliver voice, data, compute, mobility, Security and IT services to meet the complex technology needs of medium and large enterprises worldwide. The company was founded in 2002 on the simple idea of doing what's right for business customers that need guidance sourcing technology services. idea!'s vendor-neutral approach enables its expert advisors to provide unbiased recommendations for solutions, price, strategy, and service to match clients' defined buying criteria. idea! stands for Integrity, Dedication, Experience and Action! For more information, visit http://www.ideacommgroup.com.
Launched in 2017 in New York, N.Y., UPSTACK is transforming the way cloud and internet infrastructure is sourced and sold. The company uses advanced technology to enable an extensive team of cloud infrastructure advisors to offer customized solutions for businesses of all sizes. With UPSTACK, business buyers streamline IT procurement by tapping into a single source for mission-critical technology services from hundreds of proven providers along with the professional guidance to identify and evaluate the best solutions. UPSTACK's service portfolio includes colocation and data center, network connectivity, SD-WAN, unified communications, cloud contact center, private and public cloud, security, mobile, business continuity, IoT and more. For more information, visit us at http://www.upstack.com.