NEW YORK, Feb. 24, 2022 /PRNewswire-PRWeb/ -- UPSTACK, the profitable, fast-growing platform that transforms the way businesses design and select internet infrastructure solutions, announced today that it has acquired DVP Technologies, a Connecticut-based provider of communications solutions and consulting. Terms of the transaction were not disclosed.
UPSTACK's acquisition of DVP 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.
Building on an earlier equity investment from Berkshire Partners, UPSTACK recently secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit to further scale its platform through technology expansion and strategic partner investments.
DVP's Co-founders and Managing Partners Thomas Luciano and Michael Rafferty will join UPSTACK as Partners and Managing Directors. DVP Director of Operations Eric Nygard also will join the company.
"Over more than two decades, Thomas Luciano and Michael Rafferty have built a successful network and cloud infrastructure agency with marquee clients in the financial, legal, health care and commercial real estate markets," said Christopher Trapp, CEO of UPSTACK. "We're thrilled to bring their expertise to the UPSTACK team."
Luciano and Rafferty started their telecom careers at Cable & Wireless in the '90s, and each left the company to form their own telecom sales agencies. As individual agents, they partnered on many projects and, in 2000, formed DVP Technologies to grow their books of business together.
DVP provides business customers with a variety of networking, data and cloud solutions, including contact center as a service (CCaaS), unified communications as a service (UCaaS), Ethernet WAN, SD-WAN, virtual desktops, desktop as a service (DaaS) and managed hosting. With proximity to Wall Street, DVP supports many financial and legal firms and works primarily with large enterprises.
DVP was courted by four investors, ultimately selecting UPSTACK, which would allow the founders to stay with the company. "We came to like the folks at UPSTACK and Christopher Trapp's vision to grow the business beyond the acquisition," said Luciano. "It was clear there was a deep organization and that he was planning ahead. Combined with the quality of advisors they're bringing on board, UPSTACK seemed to be a perfect fit for us."
"Best-of-breed advisors are the engine behind the UPSTACK model, but there's also a technology platform through which consumption of products can take place," said Rafferty. "That dual-fold nature was really important to us as well."
Rafferty says the most important factor in the partnership is the instant economies of scale UPSTACK brings to drive growth. "Being part of UPSTACK opens up a whole new suite of products and services that our customers can source," said Rafferty. "And the pre-sales and post-sales resources now at our disposal will enable us to maintain a high-touch experience for our customers as we grow."
For more information about the UPSTACK Advisory Partnership, visit upstack.com/for-advisors or contact [email protected].
About DVP Technologies
DVP Technologies is an independent provider of cloud services, network communications and digital transformation solutions, serving clients worldwide across all business sectors. Since 2000, DVP has provided strategic consulting to global companies and organizations by performing benchmarking and requirements analysis, negotiating service provider contracts, and optimizing infrastructure and services at significant savings and resiliency. DVP's vision is to provide each client with best-in-class practices and professional expertise in designing, deploying, and managing cloud and network technologies. For more information, visit dvptech.com.
About UPSTACK
Launched in 2017 in New York, N.Y., UPSTACK is transforming the way internet infrastructure is sourced and sold. Through a powerful combination of the industry's leading advisors, advanced technology, and dedicated customer support resources—UPSTACK uses actionable business intelligence to architect and source customized technology 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.
Media Contact
Khali Henderson, BuzzTheory (for UPSTACK), 480.999.5297, [email protected]
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