July 14, 2021
Thrive is buying Manhattan-based S7 Technology Group, an information technology service provider for the financial industry. The deal will give S7 more market clout by providing availability to Thrive’s cybersecurity, Microsoft digital transformation and hybrid cloud offerings.
S7 Technology Group provides turnkey, full-service IT solutions and ongoing support to financial institutions. The company claims a comprehensive end-to-end framework, Azure Partner status, and focus on the private-equity support industry. Consequently, these will provide a competitive edge for financial firms seeking to maximize their technology return on investment.
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Thrive’s Rob Stephenson
“Adding S7 […] to the Thrive family signals our continued commitment to enhance our financial services practice, particularly in New York,” said Rob Stephenson, CEO of Thrive. “[Our] cybersecurity and advanced Microsoft digital transformation solutions […] reinforce our mission to support the strategic technology needs of private-equity firms with a unique blend of managed services, portfolio engagement services and consulting to ensure security, compliance and performance.”
S7’s Scot Guido
“For more than a decade, S7 Technology Group has enabled financial businesses to leverage the performance, security, and scalability previously only afforded to large enterprises. […] we’re thrilled to be joining the Thrive team,” said Scot Guido, CEO of S7 Technology Group. “We’re incredibly impressed by the level of automation and operational efficiencies of Thrive’s ServiceNow platform. [In addition], the enhanced cybersecurity capabilities of their 24×7 security operations center (SOC). Our clients will benefit greatly from our new partnership with Thrive.”
Guido, Michael Bilenkis, CTO, and Fred Bruno, COO, will all assume senior leadership roles in New York. The S7 transaction marks the 12th acquisition for Thrive since 2016. Law firm Seward & Kissel LLP represented S7 in the sale.
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