Arctiq Acquires Summit Partners, Expanding US Presence
Deal News | Nov 14, 2024 | Globenewswire
Arctiq, a leading provider of professional IT solutions and managed services, has announced its acquisition of Summit Partners, an IT consulting and value-added reseller firm based in Las Vegas, Nevada. This strategic move aims to strengthen Arctiq's presence in the US West, enhancing their ability to deliver local capabilities and to accommodate client needs more effectively. Under the leadership of Paul Kerr, CEO of Arctiq, and key figures from Summit Partners including John Georges, Jon Lankert, and Chris Moon, this acquisition opens the door to expanded market opportunities and accelerated growth in areas like Managed Security Services, Data & AI solutions, and IT Modernization. Summit Partners, which was established in 2008, has a strong service background with enterprise and government clients in Nevada, Colorado, Utah, Texas, and Arkansas. Their expertise and regional influence complement Arctiq’s existing operations in the U.S. and Canada, extending their reach and service offerings. Arctiq is well-regarded for its proficiency in Enterprise Security, Modern Infrastructure, and Platform Engineering, with a focus on delivering transformative solutions and exceptional value to its clientele.
Sectors
- Information Technology Services
- Consulting Services
Geography
- United States – Both Arctiq and Summit Partners have significant operations within the United States, particularly in the western region.
- Canada – Arctiq has existing operations in Canada, complementing their US operations.
Industry
- Information Technology Services – The acquisition and expansion efforts of Arctiq and Summit Partners primarily belong to the IT services industry, focusing on managed security, data solutions, and infrastructure.
- Consulting Services – Summit Partners' role as an IT consulting firm adds a consultancy services aspect to the acquisition.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Arctiq | Acquirer | Company | A leading provider of professional IT solutions and managed services, seeking to expand its capabilities and market presence. |
| Summit Partners | Target Company | Company | An IT consulting and value-added reseller firm known for its strong regional presence and expertise in networking, data center, and hybrid cloud solutions. |
| Paul Kerr | CEO of Arctiq | Person | CEO of Arctiq, leading the acquisition to expand the company’s market reach and service offerings. |
| John Georges | Leader at Summit Partners | Person | Part of the leadership team at Summit Partners contributing to the company’s success and expertise. |
| Jon Lankert | Leader at Summit Partners | Person | Part of the leadership team at Summit Partners, known for expertise in IT solutions. |
| Chris Moon | Leader at Summit Partners | Person | Member of Summit Partners' leadership, playing a role in the company's accomplishments. |