At a Glance:
- Magna5 acquires TCG Network to strengthen its market position.
- TCG will enhance its best-of-breed technology services and larger market resources.
- Magna5 has acquired two companies by far in 12 months.
The recent report has confirmed that Magna5 has acquired TCG Network. This merger is aimed at strengthening Magna5 position as a formidable player for cybersecurity, data recovery, and cloud services in the lower middle market.
Magna5 is a national provider of managed IT services and its portfolio encapsulates cybersecurity and cloud-based services and a NewSpring Holding platform company. TCG Network Services is a frontrunner in Boston-based managed IT and cybersecurity service providers.
Magna5 CEO, Robert Farina comments, “Our mission at Magna5 is to provide superior service for our customers by combining high-touch local service teams while leveraging the benefits of having access to a broader portfolio of capabilities.”
Given the expertise of TCG and its impressive track record, Magna5 was immediately interested in the company. TCG’s offerings align with the core values and culture of Magna5.
TCG and Mangna5 partnership
The President and Co-Founder of TCG, Frank McDonough, also expressed his take on this new acquisition. He commented, “We’re extremely proud of this new partnership. We have been thoroughly impressed by the process and look forward to supporting Magna5 and NewSpring Holdings in their rapid expansion.”
With this acquisition, TCG will enhance its ability to offer best-of-breed technology services and add real-time cybersecurity protection, data backup and recovery, centralized network monitoring, cloud hosting, and 24/7 help desk support. TCG’s customers will advantage from continuing to work with their regional Boston support team that will now have access to larger market resources.
Magna5 has acquired two companies in the past 1 year. Recently, in May 2021, it acquired NY-based SpinnerTech and now has acquired TCG. The company will be pursuing other additional acquisitions to enhance its capabilities and expand its market reach.
