Data center directory firm Upstack has acquired Performance Networks, a telecommunications consulting company based in Denver.
Founded in 2010, Performance Networks specializes in sourcing and managing complex telecom networks primarily for large enterprises.
Terms of the deal were not disclosed. The Performance Networks team will become part of Upstack, with founder and president Shawn Nus joining the company as a partner.
“Performance Networks’ commitment to customer experience and client success is an excellent fit for Upstack,” said Upstack founder and CEO Christopher Trapp. “Shawn Nus has built a company that thrives on forging deep customer relationships and supporting clients with the highest quality of care. We’re excited to welcome Shawn and the Performance Networks’ team to Upstack’s growing organization.”
“Nurturing our relationships and building customer confidence have been keys to our success,” added Nus. “Our clients trust us because we’ve always been there for them through the years, and they can depend on us to continue supporting them with best-in-class solutions and high-quality customer care. Joining Upstack gives me the peace of mind that my customers are well taken care of.”
Upstack was launched in 2017 with the idea of enabling customers to find colocation space through a single source by aggregating and comparing multiple providers' offerings. Upstack operates a global database to help customers find available data center space, network capacity, and other services.
In 2021 the company secured $50 million in equity investment from Berkshire Partners, followed by $100m in financing from MidCap Financial and Morgan Stanley Private Credit. The company has been on a regular acquisition hunt since, acquiring six firms in 2023, 11 in 2022, and at least eight in 2021.
Upstack has been relatively quiet on the acquisition front in 2024, with Performance marking only its third deal of the year.
In January, the company acquired Kansas-based advisory firm Strategic Telecom Partners.
In February, Upstack acquired CA Communications’ Telecom Services Division; an IT and telecommunications consulting company based in Minnesota.
CA Communications’ founder and CEO Marc Agar became an Upstack partner while remaining CA’s chief executive. CA’s agency business has moved under the Upstack brand, while CA Communications continues to operate its technology resale and managed services lines of businesses under the CA Communications brand.
