No financial terms were immediately disclosed from the deal, which marks Evolve IP’s third publicly disclosed acquisition in 2017. It’s part of the expansion playbook set up by Boston-based venture firm Great Hill Partners following a majority investment in the suburban company back in 2016.
“Evolve IP provides enterprises with integrated cloud solutions for both communications and computing,” said Evolve IP President Guy Fardone in an email. “It’s the OneCloud model and it makes IT more efficient. The addition of IDaaS for Evolve IP’s solutions, integrated with 4,000 cloud applications, makes IT even more effective.”
Fardone said no layoffs were expected as part of the deal. After adding Clearlogin’s employees into the fold, Evolve IP now employs 350 across its offices in Philly, Austin, Phoenix and its suburban headquarters. It also has an international footprint by way of outposts in Germany, Israel and the Netherlands.
Founded in 2006, Evolve IP offers its solutions to some 1,500 enterprise clients, reaching a user base of around 350,000 in verrticals like healthcare, finance and retail.
Center City’s IntegriChain acquired a Tennessee healthcare consulting biz’s life sciences division
Dating app company The Meet Group purchased in $500M deal
RevZilla’s parent company, Comoto Holdings, just acquired another cycling retailer
Philly food-ordering startup Ontray has been acquired by NYC-based Zuul Kitchens
Sign-up for daily news updates from Technical.ly Philadelphia