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Silver Oak-backed Summit Hosting Acquires IT Service Provider Handy Networks

Summit Hosting Acquires IT Service Provider Handy Networks

Summit Hosting, which is backed by private equity firm Silver Oak Services Partners, has bought IT managed service provider Handy Networks. The terms of the deal were not disclosed.

“Together we will offer customers a full spectrum of secure, cloud hosted, IT managed services, and our teams will continue to provide technical expertise and superior customer service to end users,” said Jay Sudowski, co-founder, and CEO of Handy Networks.

Summit Hosting is a cloud hosting provider for financial applications, including QuickBooks, Sage, and SAP Programs in North America, with over 8,000 servers and 30,000 end-users.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.