Key Takeaways
- • Avance-backed Alchemy Technology Group has acquired Freeit Data Solutions, an Austin, Texas-based cybersecurity provider, according to PE Hub.
- • Freeit provides data management, infrastructure and cybersecurity services with a focus on state, local and education customers.
- • The deal is a add-on style acquisition by a private equity-backed portfolio company, with Avance serving as the backer of the buyer.
- • Specific deal value, closing terms and financial details were not disclosed in the available source material.
Summary
Alchemy Technology Group, a portfolio company backed by Avance, has agreed to acquire Freeit Data Solutions, an Austin-based provider of data management, infrastructure and cybersecurity services, according to PE Hub. The transaction was reported under PEI Private Equity's deals coverage.
Freeit's client base centers on state, local and education customers, a public-sector focus that reflects demand for managed data and security services among government agencies and school systems. The source material does not disclose the purchase price, the financial profile of Freeit, or the expected integration plans for the combined business.
The acquisition illustrates a continued pattern of private equity-backed platforms expanding through add-on deals in cybersecurity and IT infrastructure services. Allocators tracking Avance's portfolio may view the transaction as an example of buy-and-build activity in the sector, though further detail on the deal terms would be needed to assess its scale.
Freeit's client base centers on state, local and education customers, a public-sector focus that reflects demand for managed data and security services among government agencies and school systems. The source material does not disclose the purchase price, the financial profile of Freeit, or the expected integration plans for the combined business.
The acquisition illustrates a continued pattern of private equity-backed platforms expanding through add-on deals in cybersecurity and IT infrastructure services. Allocators tracking Avance's portfolio may view the transaction as an example of buy-and-build activity in the sector, though further detail on the deal terms would be needed to assess its scale.
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