Acquisition of a financial services MSP: Abacus Group acquires Echo Technology Solutions

Abacus Group, one of the top 100 MSPs in the vertical market focused on the financial services market, acquired Echo technology solutions – a San Francisco-based MSP that supports venture capital firms. A separate Echo business unit focused on Salesforce cloud projects was not included in the deal.

This is technology merger and acquisition deal number 705 that ChannelE2E has covered so far in 2021.

Abacus, founded in 2008, is positioned as the leading MSP of alternative investment companies. The MSP has experienced organic and acquisition growth, including Hedgepoint Solutions in 2018 and Proactive Technologies in 2019. MSP’s 200 employees now support more than 650 investment management firms in the US and UK. Armed with Echo, Abacus claims to be the largest provider of IT services to financial firms in the San Francisco Bay Area.

Abacus Acquires Echo: MSP Management Perspectives

Chris Grandi, CEO of the Abacus group

In a prepared statement on the acquisition of Echo, Abacus CEO Chris Grandi said.

“The majority of Echo IT’s clients are venture capital firms, which matches Abacus’ specialization in providing IT services to the financial industry. We are delighted to welcome the Echo IT team and customers to the Abacus family. “

Randy Hyshiver, former director of IT services at Echo, will assume the role of managing director of the Echo IT division within the Abacus group. In a prepared statement, Hyshiver said:

“I am delighted to join Abacus and lead Echo IT through this new era under Abacus. Abacus brings a wide range of resources to Echo’s customers and employees, with a wide range of administrative functions and dedicated technology and cybersecurity teams.

Abacus as offices in New York, NY; San Francisco, California; Boston, MA; Dallas, Texas; Greenwich, Connecticut; Los Angeles, CA; Charlotte, North Carolina; and London, England. For more information visit www.abacusgroupllc.com.


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