Groupware Technology Acquired by Trace3 As Part of Strategic Expansion
November 10, 2020
SAN FRANCISCO – November 10, 2020 – Groupware Technology (“Groupware”) announced today that it is now part of advanced technology solutions provider, Trace3, an H.I.G. Capital (“H.I.G.”) portfolio company. The acquisition expands 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 the 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.
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.”
“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.”
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.
Trace3 is a premier provider of advanced technology consultation services and solutions. Founded in 2002, Trace3 offers a broad mix of end-to-end technology services and solutions, ranging from artificial intelligence and data science to cloud computing and security consulting. The company also maintains a venture capital briefing program, with a sharp focus on emerging technologies, and provides clients with extensive research focused on the latest IT trends. Trace3 is headquartered in Irvine, Calif. and maintains 25 office locations across the United States. Trace3 is privately held by H.I.G. Capital. For more information, visit www.trace3.com.
About Groupware Technology
Groupware Technology specializes in data center infrastructure and cloud computing solutions, rack integration services, and first call support. A leading IT solutions provider since 1992, Groupware understands that IT is an integral component of client success and delivers positive outcomes for clients through excellent customer service, technology, and teamwork. Groupware solves business problems with technology solutions that reduce costs and complexity, increase flexibility, and improve performance and competitiveness. Learn more at www.groupwaretech.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $41 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.