Rackspace announced that it signed an agreement to acquire TriCore Solutions, a leader in the management of enterprise applications, including Enterprise Resource Planning (ERP) solutions from Oracle and SAP. This acquisition is expected to close in June, and will likely bolster the San Antonio, Texas-based company’s position in key verticals including manufacturing, logistics, procurement, supply chain management, customer service, HR and financial operations.
“Our customers are asking us to move further ‘up the stack’ by expanding our managed application capabilities,” said Jeff Cotten, president and interim CEO of Rackspace. “TriCore’s services are among the best in that space and are highly complementary to ours. They will help enable us to deliver more of the services that our existing customers need, while opening the door to new opportunities across the globe.”
TriCore provides a full suite of scalable managed application, cloud and infrastructure hosting, and consulting services for approximately 275 enterprise organizations. The company is headquartered in Norwell, MA, with offices in India and throughout North America.
Terms of the transaction were undisclosed.
This move is likely to strengthen the Rackspace position in several targeted verticals, and underscores the need for culture similarities in navigating successful acquisitions.