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Abacus Acquires Proactive Technologies To Rule New York MSP Market

The New York-based managed services providers both specialize in providing services to financial and investment firms in the state.

Two fast-growing New York-based managed service providers are joining forces to create what Abacus Group is calling the largest MSP in the New York metropolitan region that specializes in alternative investment firms.

Abacus Group, ranked No. 446 on CRN’s Solution Provider 500 list, has closed its acquisition of Proactive Technologies, named one of CRN’s 2018 Next-Gen 250.

“It’s exciting that, together, Abacus and Proactive will be the largest team of engineers and IT support personnel serving alternative investment managers in the New York City area,” said Chris Grandi, CEO of Abacus Group in a statement.

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Founded in 2007, Proactive Technologies specializes in providing services to hedge fund, investment firms and private equity companies. The Manhattan-based MSP, who also has an office in Los Angeles, has over 120 investment industry clients.

Abacus Group provides an enterprise technology platform, Abacus Cloud, specifically designed for the financial services industry that allows investment managers to source all technology needs as a service. Founded in 2008, Abacus has over 400 clients across the U.S. and U.K. The New York City-based solution provider, who has competed against Proactive in the past on deals, said it will now be the largest MSP provider to investment firms in New York based on client count.

“We have long had a deep respect and affinity for Abacus Group, and we look forward to working with them as a unified team,” said Jacob Cane, co-founder and president of Proactive. “We are excited to offer our client base access to Abacus’ robust technology platform while continuing to deliver on our hallmark commitment to service and a great end user experience.”

Terms of the deal were not disclosed. Both Proactive and Abacus did not respond for comment by press time.

In 2018, Abacus grew annual revenues by 23 percent, while Proactive increased revenue by 18 percent in the same time frame. Both Proactive and Abacus partner with the likes of Citrix, Cisco, Dell, VMware and Zerto, to name a few.

Proactive founders, Cane and Dave Cava will now becoming Managing Directors at Abacus and will assist with the integration of employees and clients into Abacus’ system.

Abacus said existing Proactive clients will eventually be able to take advantage of technologies and solutions available on the Abacus Cloud platform, including a hosted voice service, application hosting, 24x7 helpdesk, dedicated cybersecurity team, global presence and a suite of compliance tools within the proprietary Abacus Client Portal.

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