Second Acquisition in 30 Days Expands Geographic and Vertical Market Scope
Sourcepass announced that it has added Suite3 to its portfolio of innovative IT companies focused on serving small to mid-sized businesses (SMBs). The deal is Sourcepass’ second acquisition in 30 days and will not only boost the company’s solutions targeting the financial service industry, but also grow the company’s reach in the Northeast, expanding its footprint into 43 states.
“According to the U.S. Small Business Administration, SMBs made up 99.9% of U.S. businesses in 2020 and their employees account for almost half of the U.S. workforce. However, they often have difficulty accessing the capabilities and resources that would help them grow,” said Chuck Canton, Chairman and Founder of Sourcepass. “That is why Sourcepass looks for the best IT companies serving this market – like Suite3 – to give SMBs tools to be competitive. It is good for the companies, good for the IT partners we select, and ultimately good for the U.S. economy.”
Suite3 provides managed network, cloud migration and management, cyber security, and IT support services to more than 6,000 managed customer endpoints. Its clients span more than eight industries, with a strong focus on financial services.
“As Suite3’s cybersecurity offerings became more sophisticated, the next logical step for us was to expand to offer 24×7 support and security operations. With Sourcepass’ support, we can accelerate our timeframe to offer these expanded offerings and our clients gain additional resources through the relationship,” said Dave DelVecchio, President of Suite3. “One of the things at the core of our business model is an obsession with customer satisfaction and engagement. Once we knew Sourcepass shared that commitment and our visions were aligned, we knew they were the right partner for us. We are excited to be part of the Sourcepass family and look forward to contributing to the journey.”
As part of the transition, Suite3’s current employees will join the Sourcepass team. They will also receive institutional training and growth opportunities. In addition, the core Suite3 leadership team will remain, with new roles to help Sourcepass with its growth into the financial services industry and culture of customer engagement.
Current Suite3 clients will also see benefits from the new agreement. Sourcepass will extend its interactive web portal to enable 24/7 on-demand, omni-channel support to Suite3 customers, and they will have access to Sourcepass broad portfolio of technology solutions.
“Our goal is to be the leading managed service provider (MSP) for SMBs,” added Canton. “We can only do that by selecting the best partners, like Suite3 and our recent deal with NST. The next step is to implement our proven systems and operational strategies to help these companies grow and thrive so they can deliver innovative digital IT services to SMBs and help those organizations succeed.”
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.
