Momentum Announces Definitive Agreement to Acquire Asset Black
Acquisition Enhances Momentum's Geographic Reach and Expands Managed Network Business while Delivering New Opportunity in the Financial Technology Sector
ATLANTA, July 13, 2023 (Newswire.com) - Momentum, a leading global provider of managed cloud services and next-gen managed network solutions, today announced that it has entered into a definitive agreement to acquire Asset Black, a Savannah, Ga.-based managed network provider. The strategic acquisition will expand Momentum's geographic reach, bolstering scale and reinforcing its position as a leading provider of managed network solutions while offering specialized reach and services within the financial technology sector.
The acquisition of Asset Black represents a transformative step forward for Momentum, continuing the company's rapid managed network growth and enabling entrance into new verticals including financial services. By combining the strengths and expertise of both companies, Momentum will be well-positioned to deliver greater value to its combined customers and capitalize on its complete managed cloud services portfolio, including voice, global connectivity, and managed network.
"We are delighted to announce the acquisition of Asset Black, representing another milestone in our growth strategy," said Todd Zittrouer, CEO of Momentum. "The addition of the complementary Asset Black portfolio and team further solidifies our position as a leading provider of managed cloud and network services. This acquisition aligns with our mission to enable customers and partners to thrive through superior technology and premier customer service."
"We couldn't be more excited to combine forces with Momentum. With Momentum's proven track record and commitment to excellence, we are confident that together we will deliver exceptional solutions to our customers and achieve remarkable success in the managed network space and beyond," said Mark Weeks, CEO of Asset Black.
Weeks will join Momentum upon the close of the acquisition to lead financial vertical sales and support the companies' successful integration.
The transaction is expected to close later this year pending regulatory approval.
G2 Capital Advisors served as the exclusive buy-side advisor to Momentum on its acquisition of Asset Black.
Momentum is a leading global managed cloud services provider, offering a comprehensive suite of solutions including cloud voice, global connectivity, and managed network solutions, including SD-WAN. With a customer-centric approach and history of delivering exceptional results, Momentum empowers businesses to thrive in today's digital landscape.