PARK PLACE TECHNOLOGIES ACQUIRES RIVERSTONE TECHNOLOGY

Purchase Strengthens Park Place's Position as Global Leader of Third-Party Maintenance

CLEVELAND, June 21, 2022 /PRNewswire/ -- Park Place Technologies, the leading global data center and networking optimization firm, has acquired Riverstone Technology, a third-party maintenance, support provider based in Atlanta, Georgia. The acquisition will provide more products and services to Riverstone Technology's client base, including automated monitoring and a portfolio of managed services. 

Riverstone Technology, founded in 2016 by current CEO and owner Barry Anderson, offers third-party maintenance and support for storage, network, and server devices. The business supports all major OEM brands and serves more than 475 clients across six continents.

This is Park Place's third acquisition of 2022 and 21st since 2016.

"We have helped thousands of companies improve their business strategy and optimize their data centers," Anderson said. "We carry the burden of maintaining data center equipment, reducing stress for businesses as they take short-term steps and set long-term goals. We have watched Park Place set industry standards for innovation and service. We are excited to connect our clients to Park Place's engineering expertise and full range of managed services and introduce them to the Curvature brand for their hardware needs."

"Riverstone Technology has grown globally through a reputation for, responsiveness and great client service, values that align with Park Place's mission and reputation. Bringing Riverstone Technology into our family will allow us to continue its third-party maintenance success while offering a full managed services portfolio to Riverstone's Technology's customers," said Chris Adams, Park Place Technologies President and CEO.

"IDC has seen multiple acquisitions in the third-party maintainers space, and Park Place has been driving much of that consolidation," said Rob Brothers, Program Vice President of Services for IDC. "This shows Park Place's commitment to expanding its abilities and a commitment to the third-party maintainer space, and something customers should consider when choosing a partner."

Founded in 1991, Park Place Technologies is powered by the world's largest on-the-ground engineering team, a robust group of hundreds of advanced engineers and its 24x7x365 Enterprise Operations Centers. Park Place leverages a global parts supply chain, automation, machine learning and a comprehensive portfolio of services and products to optimize networking and data center Uptime and performance.

Agile Equity provided investment banking services to Riverstone Technology.

About Park Place Technologies

Park Place Technologies is a global data center and networking optimization firm. Powered by the world's largest on-the-ground engineering team, a robust group of advanced engineers and our fully staffed, 24x7x365 Enterprise Operations Center, we offer a robust portfolio of IT solutions to optimize networking and data center Uptime and performance. Our services include third-party data center hardware maintenance, professional services, infrastructure managed services, network performance monitoring and hardware sales. Through our unique and fully integrated DMSO (Discover, Monitor, Support, Optimize) approach, customers enjoy streamlined infrastructure monitoring and management, cost efficiencies, less chaos, and faster mean-time-to-resolution – ultimately providing the freedom to think bigger. Park Place's industry-leading and award-winning services include Park Place Hardware Maintenance™, Park Place Professional Services™, ParkView Managed Services™, Entuity Software™ and Curvature Hardware sales. For more information, visit www.parkplacetechnologies.com. Park Place is a portfolio company of Charlesbank Capital Partners and GTCR.

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SOURCE Park Place Technologies

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