Afinety positions to extend legal industry leadership and fund market penetration
Afinety, Inc., a leading provider of cloud services and IT resources to law firms, was recently acquired by Netgain Technology, LLC. Netgain, a leading provider of secure and specialized cloud services to highly regulated industries, continues its aggressive nationwide expansion with the acquisition of Afinety.
Founded in 1986, Afinety combined high-performance cloud solutions with superior customer service to build a strong and loyal client roster. The Afinety Cloud Platform (“ACP”) is a rapidly growing, market-leading service that gives law firms cloud-based IT scalability, performance and security.
“Netgain is a great partner for us, we couldn’t be more excited to join the team,” said Doug Hafford, CEO of Afinety. “Netgain is dedicated to delivering high-performance, secure, cloud services to specialty vertical markets. Additionally, Netgain thrives on providing superior support to clients, so there was no question they were the right partners to help fuel our expansion in the legal services IT space.”
Afinety will leverage this transaction to extend market reach and penetration with legal practices nationwide while expanding product and service offerings for Afinety’s existing clientele.
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“Afinety eliminates IT concerns for the legal practices it serves. The ACP service just works,” said Kevin Lynch, CEO at Netgain. “Afinety perfectly fit our strategy to offer purpose driven cloud services to compliance driven vertical industries in healthcare, financial services and now legal.”
Afinety will continue to operate out of the existing offices in Encino, California and Pittsburgh, Pennsylvania.
This acquisition comes shortly after the recent acquisition by Netgain of iManaged Solutions, a cloud services provider in the optometry sector. Netgain continues to seek acquisition opportunities in IT-as-a-Service (ITaaS) companies specializing in serving healthcare, RIA, CPA and legal industry verticals.
Netgain’s strategy is supported by Bluff Point Associates, a private equity firm focused on growth-stage investing in the healthcare and financial services IT space. This transaction represents the third opportunity on which Netgain’s management and Bluff Point have collaborated in the past two years.
The financial terms of the acquisition were undisclosed.
Madison Park Group acted as investment banking advisor to Netgain on this transaction. Afinety was represented by Reynolds Advisory Partners, a Los Angeles-based boutique investment bank.