Online Tech, LLC has announced that it has been acquired by Schurz Communications Inc., a diversified media company, the company said.
Online Tech plans to leverage the investment capabilities of Schurz to expand to new markets across the United States and expand their product offerings. In connection with the acquisition, Online Tech will add industry veterans, Brad Cheedle and Tom Wilten to its leadership team to serve as the company´s new CEO and CFO, respectively.
Yan Ness will step down as CEO of Online Tech.
Online Tech currently serves nearly 500 clients across the country with its network of seven data centers and full suite of hybrid cloud services including managed Microsoft Azure, Disaster Recovery as a Service, and Data Protection as a Service. With a focus on security and compliance, their expert engineers support mission-critical applications and their client portal provides a single pane of glass into managing their entire IT systems.
DH Capital served as the exclusive financial advisor for Online Tech.
Moorgate Securities, LLC acted as the exclusive financial advisor for Schurz Communications Inc.
Online Tech is the provider of secure, compliant hybrid cloud, colocation, disaster recovery and data protection services. Their industry-leading portal, OTPortalâ¢, enables clients to view and manage all of their IT systems in a single pane of glass. Backed by independent HIPAA, PCI, SSAE 18, EU-US Privacy Shield and SOC 2 audits Online Tech delivers exceptional experiences for businesses seeking a fully managed IT-as-a-service provider. For more information, visit www.onlinetech.com.
Schurz Communications Inc. is a Mishawaka, Indiana-based news and information company that consists of broadband, newspaper publishing and digital media operations. It owns 3 broadband companies servicing over 75,000 subs, publishes 11 daily and 7 weekly newspapers in medium and small markets with a daily circulation of 129,467 and weekly circulation of 95,800, various niche publications, and multiple minority investments. Geographically, Schurz Communications has a presence in Arizona, Indiana, Iowa, Maryland, Michigan, Nebraska, Pennsylvania and South Dakota. For more information, visit www.schurz.com.
Moorgate Capital Partners is an independent merchant banking and advisory firm that looks to partner with industry executives and management teams to source and acquire middle market growth companies in the technology, media, and communications industries. For more information, visit www.MoorgatePartners.com.
DH Capital is a private investment banking partnership serving companies in the Internet infrastructure, software & IT services, and communications sectors. Headquartered in New York City with offices in Boulder, Colorado, the firm´s principals have extensive experience and proven abilities in capital formation, finance, research, business development, and operations.