Acquisition of legal vertical cloud provider extends Netgain’s industry-specialized cloud offering
ST. CLOUD, Minn., Aug. 1, 2018 /PRNewswire/ — Netgain Technology, LLC, a leading provider of secure and specialized cloud services to highly regulated industries, has continued its aggressive nationwide expansion with the acquisition of Afinety, Inc., a rapidly growing and leading provider of cloud services and IT resources to law firms.
“It’s certainly an exciting time here at Netgain,” said Kevin Lynch, CEO at Netgain. “The addition of the Afinety team will allow us to enhance the cloud services we provide to our clients and extend our mission of being the leading provider of secure and specialized cloud solutions to highly specialized industries.”
Founded in 1986, Afinety, Inc. has leveraged high-performing cloud solutions and superior customer services to build a strong and loyal client roster, harmonizing perfectly with Netgain’s service-first ethos. The Afinety Cloud Platform (“ACP”) is a rapidly growing, market-leading service that gives law firms cloud-based IT scalability, performance and security.
“Netgain is a great partner for us, and we couldn’t be more excited to join the team,” said Doug Hafford, CEO of Afinety. “With their dedication to delivering high-performing, specialized cloud services and providing superior support to their clients, there was no question they were the right partners to help fuel our expansion in the legal services IT space.”
Afinety, with the support of Netgain, will continue to expand as the leading provider of hosting and cloud services to legal practices, while also expanding product and service offerings for Afinety’s existing clientele.
Afinety will continue to operate out of the existing offices in Encino, California and Pittsburgh, Pennsylvania.
This acquisition comes shortly after the recent acquisition by Netgain of iManaged Solutions, LLC, a cloud services provider in the optometry sector. It also furthers Netgain’s growth strategy of pairing internal sales efforts with acquisition activity. Netgain continues to seek acquisition opportunities in IT-as-a-Service (ITaaS) companies specializing in serving healthcare, RIA, CPA and legal industry verticals.
Netgain’s strategy is supported by Bluff Point Associates, a private equity firm focused on growth-stage investing in the healthcare and financial services IT space. This transaction represents the third opportunity on which Netgain’s management and Bluff Point have collaborated in the past two years.
The financial terms of the acquisition were not released.
Madison Park Group acted as investment banking advisor to Netgain on this transaction. Afinety was represented by Reynolds Advisory Partners, a Los Angeles-based boutique investment bank.
About Netgain Technology, LLC
Netgain Technology, LLC, a secure and specialized cloud services and technology provider, was founded in 2000 and serves highly regulated mid-market organizations, nationwide. Netgain provides highly specialized services and solutions that simplify the cloud and take the pain out of IT so highly regulated organizations can worry less about the security and reliability of their IT and return their focus to growing their practices and firms. For more information, visit https://netgaincloud.com.
About Afinety, Inc.
Since 1986, Afinety has been providing full range of IT services for small- and medium-sized businesses. Specializing in law firms, Afinety services include cloud and onsite network consultation, design, implementation, monitoring, system security, disaster recovery systems, training, macros and templates for law firms, anti-SPAM and virus screening, remote and onsite tech support and help desk services. Afinety’s business model is simple: provide the best IT support and services with tested solutions that simply work. For more information, visit https://afinety.com.
About Bluff Point Associates
Bluff Point Associates is a private equity firm based in Westport, Conn. Bluff Point actively invests in information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry, as well as the healthcare information services sector. Bluff Point’s team collectively has decades of experience in recognizing a company’s growth potential and working with its management to reach that potential. For more information, visit http://www.bluffpt.com.