logo
logo

Sourcepass Acquires Network Solutions And Technology, Inc., Completes Latest Funding Round Of $70Mm

Mar 02, 2022over 3 years ago

Acquiring Company

Sourcepass

Acquired Company

Technology

New YorkSaint CloudProfessional Services

Description

Sourcepass, announces it has closed the acquisition of Network Solutions and Technology, Inc. (NST), a leading information technology service provider, for over 21 years. The transaction was funded through a combination of cash and equity. With commitments of $70MM in capital, Sourcepass also announces the completion of its latest round of funding. Through Sourcepass’ newly established relationships with lead growth capital partner, Metropolitan Partners Group; several experienced angel investors; and notable investor, Wedge Venture Partners, the latest round of funding is a makeup of debt and equity financing. These accomplishments have positioned Sourcepass to fuel and advance its mission to revolutionize the IT services space and drive progress for SMB technology footprint across North America.

Company Information

Company

Sourcepass

Location

New York, New York, United States

About

Sourcepass is digitizing the way small and mid-sized businesses (SMB) access innovative IT solutions by making strategic acquisitions in the IT Managed Services space. Sourcepass is committed to eliminating the challenges that SMBs face worldwide, allowing them to focus on their core business. The Sourcepass culture promotes modernization, diversification, and productivity to deliver world-class IT results and drive growth. Their goal is to help SMBs successfully navigate the digital era and remain competitive against a shifting technology landscape by immediately connecting clients with modern, valuable IT solutions for a seamless IT approach. For more information about Sourcepass, please visit www.sourcepass.com.

Related People

Sign in to view contact details

Sign in to view contact details

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed