CentricsIT, an Atlanta, Georgia-based provider of IT services, has sold its TPM and Professional Services assets to Park Place Technologies, a global provider of data center and networking optimization services. Financial terms of the acquisition were not disclosed.
The demand for professional data center services is growing globally, says Park Place Technologies, driven by economic conditions and skills gaps. Park Place’s Professional Services offering would therefore benefit from the acquisition with greater capabilities in IMAC, ITAD, Remote Hands, and deployment services, including cabling, wi-fi surveys, data center installs and refreshes, as well as network installations.
The Park Place Professional Services site, created by CentricsIT, will offer real-time project progress updates, reporting, and collaboration features, which would be advantageous to Park Place clients. With the addition of CentricsIT personnel globally who have earned Project Management Institute certification, Park Place’s Project Management Office function will be improved. Customers of CentricsIT will get access to Park Place Technologies’ distinctive range of goods and services, such as managed and automated monitoring.
“When acquiring businesses, we always search for companies that are intensely focused on customer service and have a similar culture and value set to PPT. CentricsIT delivers that and more,” said Chris Adams, President and CEO of Park Place Technologies. “Our combined Professional Services capabilities are evolving to meet client needs, and this will accelerate that CX agenda. CentricsIT’s EVP of Global Services, Patrick Keuller, will join the global Professional Services group. Patrick brings decades of experience and understands the growing needs of companies around the globe that are struggling to recruit skilled staff and stretching budgets to efficiently manage their infrastructures.”
This is Park Place’s fourth acquisition in 2022. Other acquisitions this year include Riverstone Technology, Reliant Technology, and Storfirst Software.
Professional Services Client Portal
Park Place customers would benefit from a “state-of-the-art” Professional Services portal developed by CentricsIT that provides real-time project status, reporting, and collaboration tools. Park Place’s Project Management Office function would be enhanced with the addition of Project Management Institute-certified CentricsIT employees worldwide.
Customers of CentricsIT will get access to Park Place Technologies’ distinctive range of products and services, such as managed and automated data center and networking monitoring.
“We’re pleased to have found the right fit in Park Place Technologies for our services practice to grow and thrive,” said CentricsIT founder and CEO Derek Odegard. “We know they will continue to excel in service delivery and client support.”
“Agile Equity provided investment banking services to CentricsIT and facilitated the transaction,” added Mr. Odegard. “We enjoyed working with the Agile Equity team. Their expertise in the data center infrastructure industry was very beneficial throughout the transaction.”
Park Place Technologies was established in 1991 and is backed by a large on-the-ground engineering team with hundreds of advanced engineers, and a fully staffed Enterprise Operations Center. To maximize networking and data center uptime and performance, Park Place uses a worldwide components supply chain, automation, machine learning, and a wide range of services and solutions.
