Upstack Acquisition Spree Continues With TMG, LinkSource
Following 12 acquisitions in 2022, Upstack is looking to continue M&A this year with the purchase of The Monaco Group and LinkSource’s network and cloud business.
Fast-growing solution provider and agent Upstack is continuing its acquisition spree in 2023 with the acquisition of The Monaco Group (TMG) and LinkSource Technologies’ network and cloud sourcing business.
In 2022, New York City-based Upstack acquired a total of 12 companies as part of its mission to become one of the largest agents in the world. Acquisitions last year included Connecticut-based DVP Technologies and Clifton, New York-based telecom company Subsidium Technologies.
Upstack was launched in 2017, backed by private equity firm Berkshire Partners, with the goal of transforming the way digital infrastructure is sourced and sold. Since founded, Upstack has acquired more than 25 companies.
Upstack’s Acquisition Of TMG
Upstack, which ranked No. 491 on CRN’s 2022 Solution Provider 500 list, is bullish on leveraging advisory firm TMG’s enterprise customer reach in cloud, network, communication and cybersecurity. Boca Raton, Fla.-based TMG, led by founder and CEO Joe Monaco, will become an Intelisys Platinum Partner this year.
“As a longtime telecom sales leader, Joe Monaco saw a gap in the market for providing large enterprises with unbiased advocacy and consistent support with technology sourcing and management,” said Upstack CEO Christopher Trapp in a statement. “The Monaco Group has filled that gap, becoming one of the country’s largest and fastest-growing technology advisory firms.”
Joe Monaco is set to become managing director of Upstack.
Financial terms of both the TMG and Upstack deals were not disclosed.
LinkSource Purchase And Hardware Partnership
Upstack has also acquired the network and cloud sourcing business of LinkSource Technologies, a Roseville, Calif.-based IT management specialist.
LinkSource provides network and cloud sourcing as well as managed services—such as telecom expense management, mobility management, vendor management and bid management. Similar to TMG, LinkSource is a Intelisys Platinum Partner.
“LinkSource [is] a unique and impactful technology management business that combines a traditional commissioned agency with a direct-billed managed services provider,” said Upstack’s Trapp. “The combination has earned loyal customers among some of the most well-known enterprise brands.”
Additionally, Upstack has formed a strategic partnership with LinkSource’s technology hardware sourcing business.
The two companies said they will work together to provide a more seamless experience for customers as part of the new strategic partnership.