UPSTACK, announces today it acquired The Monaco Group (TMG), an independent enterprise technology advisory firm based in Boca Raton, Fla. This comes one day after it unveiled it had bought LinkSource Technologies. Terms of the transactions were not disclosed.
As part of UPSTACK’s investment, TMG’s founder and CEO Joe Monaco will join UPSTACK as Partner and Managing Director.
Founded in 2009, TMG helps large enterprises grow by finding, negotiating and maintaining their technology stacks, including network, cloud, communications and security solutions. As architects of technology, TMG builds and supports IT environments that meet enterprise customers’ needs and budgets through strategic relationships with more than 70 technology providers.
“As a longtime telecom sales leader, Joe Monaco saw a gap in the market for providing large enterprises with unbiased advocacy and consistent support with technology sourcing and management,” said UPSTACK Founder and CEO Christopher Trapp (pictured). “The Monaco Group has filled that gap, becoming one of the country’s largest and fastest-growing technology advisory firms. We’re thrilled to welcome Joe and the TMG team to the UPSTACK family.”
Monaco built a career leading telecom sales teams, beginning as a Major Account Manager for MCI Worldcom and following with leadership roles at DeltaCom, Level 3 Communications and EarthLink. However, he noticed that customers could fall into a “black hole” of customer support following shifts in account management or corporate staffing cutbacks. In response, Monaco formed TMG to consistently engage enterprises across changing personnel and providers.
TMG’s advisory-focused approach was a success in serving the specialized needs of enterprises with 1,000 to 10,000 employees.
“The decision came down to the customer experience. By joining UPSTACK’s established team of people and processes, we could continue to grow TMG while maintaining our high level of customer support,” Monaco said.
On Monday, UPSTACK announced its acquisition of LinkSource Technologies LLC, a technology management company based in Roseville, Calif. Additionally, UPSTACK has formed a strategic partnership with LinkSource’s technology hardware sourcing business.
LinkSource CEO and Founder Curt Lewis and President Jason Newbold remain invested owners in LinkSource Technologies and will continue to grow the hardware sourcing business as LinkSource Systems. LinkSource Systems seeks to reinvent the hardware sourcing business and will work with UPSTACK to provide a seamless experience for its customers as part of a new strategic partnership.
Since 1998, LinkSource has helped businesses bridge the gaps in their technology as trusted consultants in telecom, cloud and hardware procurement and management. With millions of dollars in annual technology spend under management, LinkSource Technologies provides network and cloud sourcing as well as managed services, such as telecom expense management (TEM), mobility management, vendor management and bid management.
“Curt and Jason have built LinkSource into a unique and impactful technology management business that combines a traditional commissioned agency with a direct-billed managed services provider,” Trapp said. “The combination has earned loyal customers among some of the most well-known enterprise brands. We’re excited to bring those capabilities and customers under the UPSTACK umbrella.”
LinkSource’s leaders Kelley Moore, Vice President of Client Services & Operations, and Frank Mastro, Vice President of Sales, and additional LinkSource team members will join UPSTACK. Moore and Mastro played a significant role in the LinkSource technology services business for many years, while Lewis and Newbold diversified the company’s interests into technology hardware sales.
For more information about UPSTACK’s agency investment program, contact partners@upstack.com.
