TechServe Alliance M&A Marketplace Facilitates Strategic Acquisition
Spruce InfoTech Expands Portfolio with InfoTech Resources
Alexandria VA, Jan 4, 2024 – Spruce InfoTech, a leading information technology services provider based in Pennsylvania, has successfully acquired InfoTech Resources of Illinois, with the transaction facilitated by TechServe Alliance M&A Marketplace, a service that connects interested buyers with qualified sellers of technology staffing and solutions firms.
“We were looking for a company that complements the service offerings of our direct relationship business. I also wanted a partner where our key employees would be well taken care of,” said Bob Moore, president, InfoTech Resources. “Similar to InfoTech Resources, Spruce deals with high-end IT skill sets. Additionally, they have offshore operations, a capability we were looking to add on.”
“The TechServe M&A Marketplace team understood our requirements and connected us with Spruce InfoTech,” Moore added. “I have long known TechServe as an association and it was a pleasure working with people who I can trust and who have my best interests in mind. Moreover, both Steve Norris and John Larson of M&A Marketplace are industry veterans and former owners of IT staffing companies. They understand our business. That’s a big advantage of working with TechServe M&A Marketplace.”
For Spruce InfoTech, this acquisition marks a strategic alliance that strengthens its position in the Midwest market with enhanced capabilities and an expanded service offering.
“This acquisition is a testament to our commitment to delivering unparalleled technology solutions to our clients,” said Venu Sangani, President & CEO of Spruce InfoTech. “We are thrilled to welcome the talented team from Infotech Resources into the Spruce family. The TechServe Alliance M&A Marketplace played a pivotal role in making this partnership a reality. Their expertise and network facilitated a seamless transaction, and we look forward to the exciting opportunities that lie ahead.”
The M&A Marketplace is part of TechServe Alliance Services Corp., a wholly owned subsidiary of the IT and engineering staffing industry’s national trade association TechServe Alliance. The service is available to both members of the association as well as non-members and provides an opportunity for owners of small to medium-sized IT and engineering staffing and solutions firms with a better way to exit. For prospective buyers, this service provides a much-needed avenue for firms who either want to grow an existing IT and engineering staffing operation or expand into technology staffing.
“At TechServe Alliance, we are dedicated to supporting industry firms in achieving their business goals from inception to exit,” said Mark Roberts, CEO of TechServe Alliance. “With our unparalleled network of IT and engineering staffing firms and deep industry knowledge, we are uniquely positioned to provide sellers an opportunity to exit for maximum value and a platform for buyers to scale through acquisition.”
“As former principals of IT staffing firms, John and Steve bring an owner’s understanding and perspective having ‘walked in their shoes.’ Congratulations to Bob Moore and Venu Sangani as well as John and Steve for achieving such a successful outcome,” Roberts added.
To learn more about M&A Marketplace and how its innovative model sets up owners looking for a successful exit and helps buyers fast-track growth through acquisitions, please indicate your interest here to schedule a call or reach out to John Larson at larson@techservealliance.org and Steve Norris at Norris@techservealliance.org.
About TechServe Alliance
TechServe Alliance is the premier organization dedicated to advancing the IT & engineering staffing and solutions industry. TechServe and its subsidiaries are singularly focused on driving the success of IT & engineering staffing and solutions firms through innovative programs and services, access to proprietary industry research and data, a culture of knowledge sharing and collaboration, and promoting fair business practices.