Announced
Completed
Financials
Sources
Tags
Acquisition
Friendly
Private Equity
United States
Software
cloud managed service
Completed
Majority
Domestic
Private
Single Bidder
Synopsis
Madison Dearborn Partners-backed Navisite, a managed cloud service provider, completed the acquisition of Velocity Technology Solutions, a global cloud managed service provider. Financial terms were not disclosed. "We look forward to what we can accomplish together with Navisite. With Navisite's resources, global capabilities and complementary expertise, Velocity is positioned to become an even stronger partner for our customers growing and competing in the digital economy. Most importantly, our customers can expect greater breadth and depth of services to help them eliminate IT complexity, lower costs associated with monolithic software deployments and migrate and transform their businesses in the cloud," Steve Kloeblen, Velocity Technology Solutions CEO.
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