Abacus Group has secured a minority investment from WestView Capital Partners. Drake Star Partners acted as an exclusive financial advisor to Abacus Group on this transaction.
Founded in 2008, Abacus Group has successfully served the hedge fund and financial institution market by providing superior technology, expertise, and service.
Abacus Group provides three main products and services – AbacusFLEX, a professionally managed hosted IT solution covering all the primary needs of a modern financial services firm including state-of-the-art security and compliance functionality; Application Hosting, a fully redundant and secured managed infrastructure allowing clients to host any application in the cloud; and VOICE, a fully managed, hosted unified communications solution. It also provides desktop support and other ancillary services.
Chris Grandi (pictured), co-founder and CEO of Abacus Group, says: “Jeff Baker and the Drake Star team ran an expedient and disciplined process that enabled us to achieve a great result with limited disruption to the day-to-day operations of our business. They provided valuable counsel with respect to building a market and structuring a deal, while demonstrating valuable insight in our segment that reflected a deep understanding of the major players and trends.”
Jeff Baker, Partner at Drake Star, says: “We were excited to advise another leader in the MSP market and believe with this investment Abacus is well positioned to maintain its leadership status. This transaction demonstrates Drake Star Partners’ deep sector expertise in the field of IT Services.”
