Trace3 Continues Strategic Expansion with Groupware Technology Acquisition
Trace3, an H.I.G. Capital portfolio company, announced that it 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.
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. “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.”
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“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, a leading global alternative investment firm with over $41 billion of equity under management. “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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