A recent survey has found that companies have sped up the adoption of digital technologies by three to four years due to the impacts of the coronavirus and the increasing trend of digital transformation. Post-pandemic, these new innovations are most likely here to stay.
With that in mind, there have been several IT-related mergers and acquisitions between companies looking to combine their resources and expand their reach in the market. Trace3 is one company that has been making deals to boost its innovation and emerging technology.
Founded in 2002, Trace3 is a technology solutions provider, building end-to-end cloud, data intelligence, security, DevOps, and data center solutions. Headquartered in Irvine, California, the company is a portfolio company of H.I.G. Capital (H.I.G.), a leading global private equity and alternative asset firm, and has additional offices in the Bay Area, Los Angeles, San Diego, Boise, Salt Lake City, Denver, Phoenix, and New Jersey.
In 2018, it merged with Michigan-based Data Strategy to create a nationwide provider of cloud, data intelligence, security, DevOps, and enterprise IT solutions. And now Trace3 has set its sights on expanding its reach in Silicon Valley, announcing that it has acquired Groupware Technology to grow its market position in Northern California and Arizona. Headquartered in Campbell, California, Groupware serves several Fortune 500 companies.
“Groupware has a very like-minded focus of putting clients first,” Rich Fennessy, CEO of Trace3, said in a statement. “Both organizations strongly believe that our product is our people and have invested heavily in elite engineering teams. Now, together, we will offer clients in Silicon Valley and the greater northern California region the absolute best technical consulting and services capabilities available.”
With the deal, Groupware clients will have access to Trace3’s advanced technology portfolio, including expertise in security, data intelligence, artificial intelligence, and advanced data centers. In turn, Groupware will strengthen Trace3 offerings in cloud optimization, data center infrastructure, first-call support, hardware integration, and configuration, and global shipping and logistics.
Groupware’s leadership team will continue to oversee the business in the Northern California region.