NEW YORK, July 29, 2021 /PRNewswire-PRWeb/ -- 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 LanYap Networks, a woman-owned provider of strategic telecom and cloud solutions for medium and large businesses. Terms of the transaction were not disclosed.
UPSTACK's acquisition of Phoenix-based LanYap Networks is part of the company's strategy to accelerate the growth of its ground-breaking platform, which combines the industry's leading Advisor Partners with advanced technology, support resources and data.
UPSTACK also announced in April 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 the deal, LanYap Networks Co-founders Angie Tocco and Laura Dashney will join UPSTACK as Partners and Managing Directors, as well as true equity stakeholders in one of the industry's most innovative companies. They also will serve as Advisors to business customers that are sourcing data center, colocation, cloud, network connectivity and more through the UPSTACK platform.
"We're excited to welcome LanYap Networks to the UPSTACK family," said Christopher Trapp, CEO of UPSTACK. "Angie and Laura are well known in the channel both for their high performance and high integrity. Giving back is a cornerstone of their business. Culturally, they're a perfect fit for UPSTACK, and we look forward to building on their remarkable legacy together."
LanYap Networks was founded in 2011, but its history began a decade earlier when owners Dashney and Tocco became friends while working at Mitel. Named after the Cajun-French word lagniappe, meaning "a little something extra," LanYap Networks' owners focused on providing customers with an extra benefit – integrity. They handpicked subject matter experts to build a team of knowledgeable, trusted advisors.
Today, LanYap Networks is a well-respected telecom and cloud consulting firm with numerous industry accolades. Notably, in 2014 LanYap Networks achieved Platinum status – $1 million in monthly billings – with master agency Intelisys. That same year, the owners founded a philanthropic organization, Telecom for Change, which has raised more than $1 million for charities serving women and children.
LanYap Networks sustained its top performance over the next six years and, in 2020, was courted by would-be buyers. Tocco and Dashney weren't initially interested in selling, but the calls sparked a conversation between the two women about their priorities and future goals.
"We enjoyed great success and recognition, but we began to ask, 'Is it sustainable?' We were each chief, cook and bottle washer," said Tocco. "Over the years, we hired operations support but always ended up working 'in' the business. Partnering with UPSTACK allows us the autonomy to focus on the aspects of the business we each find most fulfilling."
The pair entertained a few options and, ultimately, chose UPSTACK because of its ability to structure a deal with staggered earn-outs while also offering a home for LanYap Networks' employees and taking on its operational workload.
"UPSTACK is not one size fits all," said Dashney. "They're interested in our business and want to do what's best for us, the employees and our clients. UPSTACK gives us additional resources and frees us up to work with our customers and drive additional levels of value."
For more information about the UPSTACK Advisory Partnership, visit upstack.com/for-advisors or contact [email protected].
About LanYap Networks
LanYap Networks, a WBENC Certified Woman-Owned Business, is a provider of strategic telecom and cloud solutions for medium and large enterprises nationwide. Since 2011, we've been helping our business clients assess their current infrastructure, plan for future objectives and source the best solutions from more than 150 service providers. Plus, our team negotiates the contracts and provides support for the life of the contract, offloading telecom headaches from internal teams. We deliver real solutions that enable businesses to communicate easily, scale quickly and generate ROI. "We manage your telecom needs so you can get on with your life." For more information, visit http://www.lanyapnetworks.com.
About UPSTACK
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 http://www.upstack.com.
Media Contact
Khali Henderson, BuzzTheory (for UPSTACK), 480.999.5297, [email protected]
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