NewSpring Holdings’ Magna5 Acquires Award-Winning Managed Services Provider
November 27, 2017
Radnor, PA – November 27, 2017 – NewSpring’s dedicated buyout strategy, NewSpring Holdings (“NewSpring”), announced today that its voice and data managed services portfolio company, Magna5, has successfully completed its acquisition of NetServe365, an award-winning managed services provider.
Headquartered in Pittsburgh, PA, NetServe365 specializes in network and server monitoring management, cloud hosting, and IT consulting. The company’s fully managed IT security offerings combine certified expertise and advanced technology to supply powerful monitoring, management, and incident response.
“Acquiring NetServe365 not only solidifies Magna5’s footprint, but also provides an invaluable level of security and risk mitigation to its more than 7,500 small-to-medium sized business customers across the country,” said Lee Garber, NewSpring Principal. “Magna5 is purpose-built to answer the demand from middle-market companies that need enterprise-grade cloud services and high-touch support that, unlike the mega providers, is budget friendly.”
NewSpring Holdings has provided significant financial backing for Magna5 to accelerate continued growth through selective M&A activity. Magna5 brings together market-leading products, services, and solutions of three established telecommunications providers: X5 Solutions of Seattle, WA, CornerStone Telephone Company of Albany, NY, and NovaTel Ltd. of San Antonio, TX. Since November of 2016, the companies have evolved into a national provider of network, managed IT, and cloud services, unified under the Magna5 brand.
“The NetServe365 acquisition is a catalyst to Magna5’s transformative growth initiative and allows for Magna5 to layer in additional high-value products and services to our portfolio of offerings,” said Greg Forrest, CEO, Magna5.
NetServe365’s expansive portfolio includes business voice and data services, hybrid network services, unified communications (UCaaS), infrastructure (IaaS), and software (SaaS) delivered as a service from the cloud.
“Teaming up with Magna5 allows NetServe365 to expand our services and solutions to a much broader customer base,” said NetServe365’s Chief Operating Officer, Justin Cameron, who will continue on as the lead for the IT managed services business unit within Magna5. “In addition, we are excited to bring our products and knowledge to Magna5 and help strengthen their security offerings to the marketplace.”
Magna5 delivers network services, unified communications, and infrastructure technology to more than 7,500 mid-market enterprise customers nationwide, including leaders within the education, healthcare, government, financial services and beyond. Magna5 offers voice and data services, as well as a host of “above the net” cloud services and operates proprietary, secure network designed to leverage diversified carriers and infrastructure in targeted points-of-presence (PoPs) throughout the United States, a key strategy for network reliability. Headquartered in Dallas, Magna5 operates office and network facilities across the country, including Miami, FL; Albany, NY; New York City; San Antonio, TX; Portland, OR; Los Angeles, CA; and Seattle, WA. Magna5 is a platform company of NewSpring Holdings, NewSpring Capital’s dedicated buy and build strategy. For more information, visit www.magna5global.com.
NetServe365 is a managed service provider that delivers a complete range of managed services, hosting options, security services and IT Consulting 24/7/365 from their fully staffed Operations Center, headquartered in Pittsburgh, PA. With both domestic and international presence, NetServe365 offers managed services to businesses large and small. NetServe365 is committed to understanding the structure, needs, and goals of customers to provide better service and results by acting as an extension of the client’s team to combine internal and external resources. The NetServe365 list of managed services includes security prevention and detection, data backup and recovery management, network management and support, server maintenance, IT monitoring, IT consulting services, cloud hosting options, and help desk support. For more information, visit www.netserve365.com.