Cherry Tree & Associates | August 2026 | | Cherry Tree & Associates has been actively monitoring trends and activity in the Information Technology Services space for more than 10 years. Along with monitoring the large, public players in the space through our public company index (IT Services 60), Cherry Tree closely tracks middle-market M&A trends that directly impact middle-market owners, operators, buyers and sellers. | | The five sectors within the IT Services 60 are as follows: | |
- Managed Services
- IT Solutions (Integrators)
- IT Consulting
- Value-Added Resellers
- Staffing
| | Each issue of this newsletter highlights transactions involving Information Technology Services companies, as
well as performance metrics for the
IT Services 60. | | Notable Recent Transactions | |
Uprite Services Acquires Trif Technologies
Uprite Services acquired Trif Technologies, a managed IT and cybersecurity provider serving small and midsized businesses across the Dallas-Fort Worth Metroplex. Trif provides network design, virtualization, backup and disaster recovery, hardware-as-a-service and day-to-day IT support. The transaction strengthens Uprite’s presence in North Dallas and gives Trif clients access to 24/7 support, expanded cybersecurity and compliance services, co-managed IT and virtual CIO capabilities while retaining their existing engineering relationships.
|
ScanSource Acquires MicroAge
ScanSource agreed to acquire MicroAge, a U.S. IT solutions integrator, managed services provider and digital transformation partner, for $220.5 million in cash. MicroAge serves approximately 2,400 clients with more than 200 employees and provides cybersecurity, cloud, data center, managed IT and professional services. The transaction moves ScanSource further into higher-margin, services-led technology markets, expands its addressable market and gives its channel partners access to additional consulting and managed services capabilities.
|
BlueAlly Acquires GigaNetworks
BlueAlly acquired Miami-based GigaNetworks, an enterprise IT and network security solutions provider offering strategic planning, system evaluation, implementation, training and technical support. GigaNetworks adds expertise across firewalls, endpoint and cloud protection, intrusion prevention, wireless infrastructure and system management to BlueAlly’s national IT services platform. The combination broadens BlueAlly’s ability to support customers across the technology lifecycle, from advisory and design through implementation, security, optimization and managed services.
|
Nexus IT Acquires Loyal IT
Nexus IT acquired Austin-based Loyal IT, a managed services provider offering managed and co-managed IT, cybersecurity, compliance consulting, cloud, data center and network infrastructure services. Loyal IT brings more than two decades of experience serving legal, accounting, healthcare and other compliance-sensitive organizations, establishing Nexus in the Texas market and deepening its regulated-industry expertise. The transaction is Nexus IT’s 12th acquisition as it builds a national MSP and MSSP platform supported by a $60 million growth facility from Metropolitan Partners Group.
| |
Pinnacle Technology Solutions Acquires Network Solutions
Pinnacle Technology Solutions acquired Network Solutions, strengthening its North American hybrid IT platform with additional engineering talent, customer relationships and Cisco expertise. Network Solutions’ technical and service capabilities complement Pinnacle’s portfolio of AI-enabled infrastructure, software, cybersecurity, professional services and managed services. The transaction advances Pinnacle’s strategy of building a scaled, services-led technology solutions provider for enterprise and public-sector customers.
|
Kyndryl Acquires Healthcare IT Leaders
Kyndryl agreed to acquire Healthcare IT Leaders, an enterprise IT services provider serving U.S. hospitals and health systems. Healthcare IT Leaders brings consulting and application managed services expertise across clinical, operational and workforce platforms, complementing Kyndryl’s infrastructure, security and AI capabilities. The transaction will deepen Kyndryl’s relationships with major healthcare systems and create a more integrated offering spanning applications, platforms and underlying IT environments as providers and payors pursue AI-led modernization while managing regulatory and resiliency requirements.
|
Ascend Technologies Acquires Xamin
Ascend Technologies acquired Xamin, a Chicago-area MSP specializing in compliance-driven managed IT, cybersecurity, cloud and governance, risk and compliance services for banks, credit unions and other financial institutions. Xamin deepens Ascend’s expertise in the highly regulated financial services market, adding a dedicated GRC platform and regulatory exam and audit support capabilities. The combination also expands Ascend’s Chicago presence and creates a team of more than 300 technology professionals serving clients across the Midwest.
|
DEX Imaging Acquires Imagine Technology Group
DEX Imaging acquired Imagine Technology Group (ITG), an Arizona-based provider of managed IT, cloud migration, cybersecurity and document management solutions. Headquartered in Chandler with locations in Flagstaff and Tucson, ITG gives DEX a platform for expansion across the Southwest while strengthening its managed technology capabilities. The transaction is DEX’s fifth acquisition of 2026 and advances the company’s broader nationwide expansion strategy.
| | Cherry Tree's "IT Services 60" index is comprised of roughly 60 publicly-traded companies with a collective market capitalization greater than $1.1 Trillion. | | IT Services 60 - Index Metrics | | Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Our firm specializes in serving middle market companies and
their owners, whether private, public, or divisions of larger corporations. | | |
Important Disclosures
The information included in this publication has been obtained from public sources and is not based upon private or confidential Cherry Tree information. Cherry Tree gathers its data from sources it considers reliable. However, it does not guarantee the accuracy or completeness of the information provided within this publication. Any opinions presented reflect the current judgment of the authors and are subject to change. Cherry Tree makes no warranties, expressed or implied, regarding the accuracy of this information or any opinions expressed by the authors. Officers, directors, partners of Cherry Tree and Cherry Tree proprietary investment funds may have positions in the securities of the companies discussed, and certain affiliates of Cherry Tree may recommend to specific clients the purchase and sale of securities discussed in the publication. This publication does not constitute a recommendation with respect to the securities of any company discussed herein, and it should not be construed as such. Cherry Tree or its affiliates may from time to time provide investment banking or related services to these companies. Like all Cherry Tree employees, the authors of this publication receive compensation that is affected by overall firm profitability. We undertake no obligation to update any information in this publication.
The ITS 60 Performance Index is a hypothetical index, and does not reflect an actual investment portfolio. Comparisons between the ITS 60 Index and other indices are for illustrative purposes only. Correlations in performance information for the ITS 60 Performance Index and other indices should not be relied upon as indicative of risks involved in owning or holding a portfolio of securities similar to the ITS 60 Performance Services Index. Past performance should not be relied upon as indicative of future performance.
| | | | |
