Abacus Group Acquires ECHO Technologies IT Services Business
by Abacus Group, on Nov 3, 2021
ECHO’s Salesforce consulting business will remain independent while its IT services business will now be led by GM Randy Hyshiver under the Abacus Group umbrella
NEW YORK & SAN FRANCISCO, November 3, 2021 - Abacus Group, a global provider of IT services for alternative investment firms, today announced it has completed acquisition of the IT services business unit of ECHO Technology Solutions.
Founded in 2002, ECHO is a technology and digital transformation consulting firm headquartered in San Francisco, with two key business units – managed IT services and Salesforce consulting. ECHO’s managed IT services business will continue to operate as usual, but now under the umbrella of Abacus Group. Randy Hyshiver, formerly Director of IT Services at ECHO, will assume the role of General Manager of the ECHO IT division within Abacus Group. ECHO’s Salesforce consulting business will stay independent, continuing to be owned and led by Founder and CEO Sejo Jahic.
“I’m thrilled to be joining Abacus and to lead ECHO IT through this new era under Abacus,” said Hyshiver. “Abacus brings a breadth of resources to both ECHO clients and employees, with an extensive array of back-of-house functions and dedicated technology and cybersecurity teams.”
Since its founding in 2008, Abacus has grown to over 200 employees servicing over 650 investment management firms across the US and the UK. Abacus will benefit from additional scale in the San Francisco market with the addition of ECHO’s IT services employees, making Abacus the largest provider of IT services in the Bay area for financial firms.
“The majority of ECHO IT clients are venture capital firms, which aligns with Abacus’ specialization in providing IT services to the finance industry,” said Chris Grandi, CEO of Abacus Group. “We are excited to welcome the ECHO IT team and clients into the Abacus family.”
Strategic acquisitions are part of Abacus’ continued growth plan, already having acquired Hedgepoint Solutions in 2018 and Proactive Technologies in 2019.
About Abacus Group
Abacus Group, LLC is a leading provider of hosted IT solutions and service focused on helping alternative investment firms by providing an enterprise technology platform specifically designed for the unique needs of the financial services industry. The innovative and award-winning Abacus Cloud platform allows investment managers to source all technology needs as a service, offering the capacity to scale on demand to meet current and future cybersecurity, storage and compliance requirements. The company has offices in New York, NY; San Francisco, CA; Boston, MA; Dallas, TX; Greenwich, CT; Los Angeles, CA; Charlotte, NC; and London, England. For more information, visit www.abacusgroupllc.com.