H.I.G. Capital Portfolio Company Trace3 Continues Strategic Expansion With Groupware Technology Acquisition
H.I.G. Capital, a leading global alternative investment firm with over $41 billion of equity capital under management, announced that its portfolio company, Trace3, has acquired Groupware Technology to expand Trace3’s market position in Northern California and Arizona. Through elite-engineering and a continual focus on emerging technology, both companies are committed to assist their commercial and enterprise clients, including many of the Fortune 500, in realizing superior business outcomes through advanced technology solutions and services.
“Clients can expect to benefit from an advanced portfolio of solutions – an integration of software, hardware, consulting, and professional and managed services – that are delivered by industry-leading engineering talent”
Headquartered in Campbell, CA., Groupware serves several Fortune 500 companies well-known for complex and challenging technology deployments. The newly combined company will serve as a leading technology solutions provider in Cloud, Data Intelligence, Security, and overall Enterprise IT.
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The acquisition of Groupware by Trace3 continues a rich history of strategic and organic growth for the Company. With Trace3’s focus on innovation and emerging technology, expansion in Silicon Valley is a natural move for the Company. “Groupware has a very like-minded focus of putting clients first,” said Rich Fennessy, CEO of Trace3. “Both organizations strongly believe that our product is our people and have invested heavily in elite engineering teams. Now, together, we will offer clients in Silicon Valley and the greater northern California region the absolute best technical consulting and services capabilities available.”
“We have been looking for a strategic partner for Trace3 with roots in Silicon Valley for some time,” said Kevin Van Culin, Managing Director with H.I.G. Capital. “The opportunity with Groupware presents a number of synergies in terms of geographic coverage and solution sets. We are thrilled with the prospects of this new partnership.”
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By joining the Trace3 organization, Groupware clients will gain access to Trace3’s advanced technology portfolio, including expertise in security, data intelligence, artificial intelligence, and advanced data center. Groupware clients will also benefit from Trace3’s long-standing commitment to providing emerging-tech inspired solutions in close partnership with the venture capital community. This innovation focus is substantiated by a dedicated technology research team, multiple technology-testing laboratories, and an emerging technology consultancy practice defined by close relationships with leading technology start-ups and their investors. Groupware will strengthen Trace3 offerings in cloud optimization, data center infrastructure, first-call support, hardware integration and configuration, and global shipping and logistics.
The Groupware leadership team will continue to oversee the business locally in the Northern California region. “Groupware is excited to join Trace3 and deliver even greater value to the California and western markets,” said Mike Thompson, CEO of Groupware. “We intend to leverage our combined engineering, sales, and management teams to develop additional service offerings, create new opportunities for our employees, and improve our standing within the partner ecosystem.” The combined business will continue providing a solutions-focused and results-driven approach for technology clients in the enterprise, commercial, and mid-market segments. “Clients can expect to benefit from an advanced portfolio of solutions – an integration of software, hardware, consulting, and professional and managed services – that are delivered by industry-leading engineering talent,” said Tony Miley, President and Chief Operating Officer of Groupware.
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