The deal is part of UPSTACK’s ongoing growth strategy, and will utilize idea!’s consulting expertise and technical resources to support business clients through their transformation efforts. As part of this acquisition, idea! co-founders David Garrick and Frank Ferdowsian will become Partners and Managing Directors at UPSTACK, and will also serve as technical advisors for business customers.
"idea! Communications Group is a welcome addition to the UPSTACK team," said Christopher Trapp, CEO of UPSTACK. "David and Frank built a thriving business on doing what's right for their customers. Their 'customers-before-company' mindset backed by tenured experience designing complex network, communications and IT solutions will help drive UPSTACK's success going forward."
Though this deal seems to be a positive move for both companies, idea! Co-founders David Garrick and Frank Ferdowsian were originally hesitant about relinquishing control to another owner. The two founded idea! together after being laid off from Qwest (News - Alert) (currently known as Lumen). Sharing a highly valued philosophy of a customer-centric business model, it was important for the two founders to join a company that shared similar values.
"Our customers are our friends; our relationships extend beyond business. We cannot in good conscience take a payout, walk away and leave our customers in the hands of someone else that will not offer the same level of service we provide," said Ferdowsian. "UPSTACK was different. They shared our customer-first passion and didn't ask us to walk away, they wanted to help grow our customer relationships further."
This announcement marks another huge development from UPSTACK;earlier this year, the company received a $50 million equity investment from Berkshire partners to support partner expansions and technical development.
Readers that would like to learn more about UPSTACK can click here for additional details.
Edited by Maurice Nagle