Thrive Expands Compliance Solutions with Abacode Acquisition
Deal News | Jul 08, 2025 | Globenewswire
Global technology outsourcing provider Thrive has acquired Abacode, a Tampa-based Managed Cybersecurity & Compliance Provider, in a bid to expand its compliance and cybersecurity offerings. The acquisition is a strategic move by Thrive to strengthen its governance, risk, and compliance solutions, especially amidst growing international compliance requirements and cyber threats. Abacode's integrated approach to cybersecurity and compliance aligns with Thrive’s objective to offer holistic security solutions to its clients, predominantly in the mid-market segment. This transaction, Thrive's second acquisition this year, underscores its commitment to broadening its footprint in compliance services across sectors such as financial services, healthcare, and government. The deal aims to meet the increasing demand for strategic and scalable governance solutions, especially from small and medium-sized enterprises seeking to meet evolving regulatory standards. Financial advisory for Thrive was provided by Stephens.
Sectors
- Technology Outsourcing
- Cybersecurity
- Compliance Solutions
Geography
- United States – Both Thrive and Abacode are headquartered in the U.S., and the acquisition enhances Thrive's footprint particularly in the Southeast U.S.
- United Kingdom – Thrive supports clients in maintaining compliance, including those located in the UK.
- Canada – Thrive's services extend to ensuring compliance for organizations in Canada.
Industry
- Technology Outsourcing – Thrive operates in the technology outsourcing sector, offering services such as cybersecurity, cloud, and IT managed services.
- Cybersecurity – Abacode specializes in cybersecurity solutions, focusing on integrating cybersecurity with compliance, making this a key industry for the article.
- Compliance Solutions – Both Thrive and Abacode focus on compliance in cybersecurity, addressing evolving regulatory requirements for businesses.
Financials
- Not Disclosed – The financial terms of the acquisition between Thrive and Abacode have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Thrive | Acquiring Company | Company | A global technology outsourcing provider specializing in cybersecurity, cloud, and IT managed services. |
| Abacode | Target Company | Company | A Tampa-based Managed Cybersecurity & Compliance Provider specializing in integrated cybersecurity and compliance solutions. |
| Stephens | Financial Advisor | Company | Served as the exclusive financial advisor to Thrive in the acquisition of Abacode. |
| Bill McLaughlin | CEO of Thrive | Person | His statement emphasizes the strategic fit of Abacode with Thrive's business model. |
| Michael Ferris | CEO of Abacode | Person | Expressed optimism about enhancing their mission under Thrive’s global support and infrastructure. |