UPSTACK, a profitable, fast-growing platform that transforms the buying experience for businesses seeking cloud and internet infrastructure solutions, announced today that it has acquired Cloudnexion, a global technology and telecommunications consulting firm. Terms of the transaction were not disclosed.
UPSTACK's acquisition of Cloudnexion is the first of several that the company plans as part of a strategy to accelerate the growth of its ground-breaking platform, which combines the industry's leading advisors with advanced technology, support resources and data.
UPSTACK also announced this month an initial $50 million equity investment from Berkshire Partners, which will enable the company to continue to scale its platform through technology expansion and partner acquisitions.
As part of UPSTACK's agreement with Cloudnexion, CEO and Founder Jake Cummins will join the company as a Partner and a true equity stakeholder in one of the industry's most innovative companies. He also will serve as an Advisor to business customers that are sourcing cloud, data center, network connectivity and unified communications through the UPSTACK platform.
"We are thrilled to welcome Jake and the Cloudnexion team to the UPSTACK family," said Christopher Trapp, CEO of UPSTACK. "Jake has built one of the top-producing technology consulting firms in the industry over the past eight years. We're excited to see how we can scale and grow the business together as part of the UPSTACK platform."
Cummins has 18 years of telecommunications experience supporting an array of web-centric customers that deliver mission-critical solutions worldwide. He is a top-performing partner, ranking among master agency Intelisys' top 1 percent of producers and holding the title "Partner of the Year" at Aryaka, Advantix and Telstra. He also has been recognized by Enterprise Networking and CIO Review magazines for his global data center connectivity expertise.
Cummins built Cloudnexion with a high-touch client experience delivered by a lean, nimble team of experts that was reaching its capacity. He identified three options to continue to grow and future-proof the business – hire a COO and let them build it, merge with another company with a back office, or sell to a partner with the resources to provide the same level of support Cloudnexion gives its clients.
"I explored all other options for taking my business to the next level. In fact, I was very far down the road on a merger plan when I ran into UPSTACK," said Cummins. "The UPSTACK proposition really hit on all cylinders in terms of what the company is looking to do to transform the channel by creating the leading advisory platform in the industry."
UPSTACK's agency investment initiatives are headed up by Scott Forbush, a 20-year technology veteran. Forbush recently joined UPSTACK as Chief Revenue Officer after three years as Senior Vice President of Global Sales at Telarus, a leading master agency.
Cloudnexion is a global technology and telecommunications consulting firm and a leading strategic partner for some of the world's largest technology services providers. The company supports an array of web-centric customers that deliver mission-critical solutions around the globe, helping these organizations achieve a better ROI on technology investments, increase productivity and, in many instances, significantly reduce costs. The company leverages a broad range of experience and expertise to be a trusted customer advocate in evaluating new solutions and reviewing clients' current environments. Cloudnexion's clients range from Fortune 500 companies to carriers, data centers, systems integrators, and small and medium businesses. For more information, visit https://www.cloudnexion.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 and IoT. For more information, visit us at upstack.com.