Founders Michael Scharf and Michael Martin to Join UPSTACK as Partners and Managing Directors
NEW YORK – January 25, 2022 – UPSTACK, a profitable, fast-growing platform that transforms the way businesses design and select cloud and internet infrastructure solutions, announced today that it has acquired teXium, a technology consulting firm serving medium-to-large enterprises worldwide. The terms of the transaction were not disclosed.
UPSTACK’s acquisition of Florida-based teXium is part of the company’s strategy to accelerate the growth of its industry-transforming platform, which combines leading cloud and internet infrastructure advisors with proprietary software and support resources. Building on an earlier equity investment from Berkshire Partners, UPSTACK recently secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit to further scale its platform through technology expansion and strategic partner investments.
As part of the deal, teXium President and CEO Michael Scharf and Chief Revenue Officer Michael Martin will join UPSTACK as Partners and Managing Directors. Six additional teXium team members will also join the company to support customers with voice and data networking, VoIP communications, security and cloud computing solutions through the UPSTACK Platform.
“Succeeding in this business is all about relationships, and that is exactly why we were drawn to becoming part of the UPSTACK family,” said Scharf. “UPSTACK sees the value in customer relationships we’ve built, and our team is looking forward to continuing to nurture those relationships under the UPSTACK umbrella.”
“I’m excited for our customers to continue to receive the best of the best in solutions and service, now with an augmented back office,” said Scharf. “UPSTACK has an exciting vision for the future, and we are glad to be along on the journey.”
teXium was formed in 2009 by Scharf and Martin to bridge the gap between technology providers and their clients. The partners created the telecom agency to offer provider-agnostic, “best-fit” communications services tailored to customer needs rather than simply meeting sales quotas with a single-vendor solution.
“We wanted to offer our customers the best product at the best price and also install it to ensure it works,” said Martin. “We became advocates for our customers with service providers.”
The new partners parlayed long-term relationships and reputations as problem-fixers for introductions to prospective customers. teXium grew quickly on word of mouth, adding customers and staff. The company now serves more than 3,000 customer locations in 29 countries.
With a steep growth trajectory, the owners considered many options for maintaining a high level of service by scaling operations, including merging, hiring a chief operating officer and selling. They entertained offers from potential buyers and ultimately selected UPSTACK, which wanted the owners to remain part of the company rather than walk away, leaving their customers behind.
“We’re proud to bring aboard the teXium team,” said Christopher Trapp, CEO of UPSTACK. “The experience the teXium team has gained over the last decade serving more than 3,000 customer locations around the world will be a tremendous asset to the UPSTACK team.”
teXium is a technology and communications agency representing more than 100 technology providers nationwide. teXium’s consultants have more than 100 years of experience assisting medium-large enterprise clients in finding the most efficient and effective technology and communications strategies to achieve their goals. Through strong provider relationships and decades of expertise, teXium offers businesses a single source for unbiased advice and best-value services from major providers of telecommunications, cloud computing and managed IT services. Uniquely, the company also provides project management for installation, post-implementation support and provider management, and ongoing service optimization and upgrades. For more information, visit www.texium.com.
Launched in 2017 in New York, N.Y., UPSTACK is transforming the way cloud and internet infrastructure is sourced and sold. Through a powerful combination of the industry’s leading advisors, advanced technology, and dedicated customer support resources—UPSTACK uses actionable business intelligence to architect and source customized technology solutions for businesses of all sizes. With UPSTACK, business buyers streamline IT procurement by tapping into a single source for mission-critical technology services from hundreds of proven providers along with the professional guidance to identify and evaluate the best solutions. UPSTACK’s service portfolio includes colocation and data center, network connectivity, SD-WAN, unified communications, cloud contact center, private and public cloud, security, mobile, business continuity and IoT. For more information, visit us at upstack.com.