Schurz Communications Inc. has announced that it has acquired compliant hybrid cloud provider, Online Tech, LLC, the company said.
The investment represents entrance into the rapidly growing cloud market with a proven platform that can be built upon for future generations. Industry veterans, Brad Cheedle and Tom Wilten of Cloudworthy join the current leadership team and will serve as the CEO and CFO, respectively.
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.
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.
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. Additionally, Moorgate provides independent, trusted advisory services and outsourced corporate development to a focused group of clients. Moorgate has offices in New York City and San Francisco. For more information, visit www.MoorgatePartners.com.