Cerberus acquires Source Code
Cerberus Capital Management announced on August 2 that it has acquired Milford, MA-based Source Code Holdings from affiliates of JMC Capital Partners. Source Code will continue to be led by Founder and Chief Executive Officer Arthur Ataie and its existing management team.
Founded in 1992, Source Code is a leading provider of engineered computing solutions and services operating across three business segments: customized high-performance computing/artificial intelligence hardware, edge computing, and IT services. The company helps its global customer base securely address complex IT challenges through its edge-to-data center-to-cloud infrastructure and computing capabilities. Throughout its history, Source Code has implemented approximately 1,600 hardware configurations and delivered more than 1,000,000 edge devices.
“Emerging trends in IT infrastructure are driving a new wave of demand for tailored, high-performance solutions,” said Michael Sanford, senior managing director at Cerberus. “Source Code’s scale, breadth, and depth of engineering and design capabilities are distinctive in the industry. We are excited to partner with Source Code’s talented team to invest in its platform and build on its leadership position.”
Patrick Moriarty, managing director at Cerberus, added: “Source Code has earned a reputation among its customers as a go-to source for customized, leading edge computing solutions. The Company’s tenured relationships and strong track record with customers who have complex and rapidly evolving technology requirements create a strong foundation for continued growth.”
Ataie commented, “Connectivity is fueling the demand for global IT services. Source Code is well-positioned to meet this need with market-leading solutions on the edge, in the data center, and in the cloud. Our partnership with Cerberus will support our ability to further enhance our offerings and expand our capabilities to new geographies and industry verticals.”