IT infrastructure solutions and data center hardware maintenance company Park Place Technologies has acquired Riverstone Technology, a third-party maintenance and support provider. Financial terms of the deal were not disclosed.
This is technology M&A deal number 556 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Park Place, founded in 1991, is based in Mayfield Heights, Ohio. The company has 1,696 employees listed on LinkedIn. Park Place’s areas of expertise include maintenance and support services, hardware upgrades and installation, equipment relocation, hardware disposal, IT asset management, equipment performance assessments, managed services, professional services and network monitoring.
Riverstone, founded in 2016, is based in Atlanta, Georgia. The company has nine employees listed on LinkedIn. Riverstone’s areas of expertise include data centers, technology infrastructure, hardware, support and cloud.
The acquisition will provide more products and services to Riverstone Technology’s client base, including automated monitoring and a portfolio of managed services, the company said.
Riverstone supports all major OEM brands and serves more than 475 clients across six continents.
Park Place Acquires Riverstone: Executive Insight
Barry Anderson, owner and CEO, commented:
“We have helped thousands of companies improve their business strategy and optimize their data centers. We carry the burden of maintaining data center equipment, reducing stress for businesses as they take short-term steps and set long-term goals. We have watched Park Place set industry standards for innovation and service. We are excited to connect our clients to Park Place’s engineering expertise and full range of managed services and introduce them to the Curvature brand for their hardware needs.”
Chris Adams, president and CEO, Park Place Technologies, said:
“Riverstone Technology has grown globally through a reputation for, responsiveness and great client service, values that align with Park Place’s mission and reputation. Bringing Riverstone Technology into our family will allow us to continue its third-party maintenance success while offering a full managed services portfolio to Riverstone’s Technology’s customers.”
Agile Equity provided investment banking services to Riverstone Technology.
About Park Place Technologies
This is Park Place’s third acquisition of 2022 and 21st since 2016.
Other deals from the company have included:
private equity firm GTCR has owned Park Place Technologies since 2015. Charlesbank Capital Partners acquired a piece of Park Place in 2019.