Surebridge
Surebridge, the leading application outsourcer of On Demand Solutions for middle market companies, delivers brand name application choice.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| N/A | $54.0m Valuation: $54.0m | Acquisition | |
| Total Funding | 000k | ||
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Surebridge operated as an application services provider (ASP), focusing on delivering and managing enterprise software for mid-market companies. The firm was established in 1997 and headquartered in Lexington, Massachusetts. Surebridge specialized in providing fully managed, name-brand Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and e-commerce applications. The company's business model centered on outsourcing complex software needs, offering services that included software selection, application deployment, secure hosting, and ongoing management.
The company carved out a niche by targeting mid-sized enterprises, a segment often underserved by larger IT service providers like IBM and HP. Its core expertise involved managing applications from prominent vendors such as Microsoft Business Solutions, PeopleSoft, and Siebel Systems. This focus made Surebridge a key player in the application hosting space, particularly for Microsoft's CRM applications. Through strategic acquisitions, such as ManagedOps.com in 2003, the company bolstered its capabilities in hosting Microsoft and PeopleSoft applications.
In a significant market consolidation move, Surebridge was acquired by technology services firm NaviSite in May 2004 for approximately $55 million in a cash-and-stock deal. The acquisition was a strategic fit, designed to expand NaviSite's application services division and enhance its infrastructure capabilities. At the time of the acquisition, Surebridge had around 250 employees. The combination of the two firms created a larger entity with over 1,200 customers, positioning the new NaviSite as a more comprehensive provider of managed application services for the mid-market.
Keywords: application services provider, managed application services, ERP outsourcing, CRM hosting, PeopleSoft hosting, Siebel Systems management, Microsoft Business Solutions partner, IT outsourcing, application deployment, mid-market enterprise services, NaviSite acquisition, application hosting, software outsourcing, e-commerce application management, managed IT services, tech services consolidation