Davenforth, an Austin, TX-based company that launched a new managed IT, voice, and networking platform, acquired TeleCloud, a Dallas, TX-based cloud communication and connectivity provider, and Third Generation, a Pittsburgh, PA-based provider of cloud communication services.
The amount of the deals were not disclosed.
As a result of these two acquisitions, Davenforth’s platform will service 21,500 users across 900 businesses. The companies will maintain their independent operations, with the existing leadership teams of both businesses remaining in place to ensure continuity and preserve the distinctive strengths of each organization.
Founded in 2007, TeleCloud is a cloud communication and connectivity provider serving the South Central and West Coast regions. It specializes in cloud communication services along with network deployment and provides a wide variety of carrier-grade solutions to its broad customer base.
Founded in 1983, Third Generation is a provider of cloud communication services serving the Mid-Atlantic region. It also deploys, supports, and maintains on-premise systems, able to meet a variety of business needs.
Founded by Logan Brown and Bradley Roofner, Davenforth focuses on building a platform of companies delivering cloud communication, connectivity, and managed services to small, medium and enterprise-level business customers.
The joint family office invests in recurring revenue businesses seeking majority buy out opportunities with business owners who care deeply about serving customers, investing in their employees, and have scaled to at least $3 million in annual recurring revenue.
FinSMEs
30/09/2024