Wayne’s Evolve IP Buys Minnesota’s AiTech, Adds 30 Staffers

Two summers ago, Wayne, Pa.-based cloud services company Evolve IP got a big infusion of capital (which was reported to be in the $100-million range) from Boston-based private equity firm VC Great Hill Partners.

The influx of cash — a majority investment in the company, then a team of 200 — was aimed at growing the Main Line firm both organically and through acquisitions. On Friday, Evolve IP announced it bought Minnesota-based communications firm AiTech, marking the 14th acquisition in its history and boosting the headcount to 400.

“We are thrilled to welcome AiTech and their clients to the Evolve IP family,” said CEO Guy Fardone. “The talented team in Minnesota will play a significant role in our successful expansion in the Midwest region of the United States; both in terms of sales, as well as carrying on their tradition of client support excellence. Our associates around the world are looking forward to their contributions.”

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