Bloomfield Hills-based O2 Investment Partners announced that its portfolio company, SIB Fixed Cost Reduction, has acquired Sage Management, a telecommunications solutions company based in Arlington, Virginia.
As a new platform via O2’s third fund, SIB has completed three add-ons since March 2020.
“O2 is extremely pleased to welcome the Sage team to the SIB platform,” said Pat Corden, Partner at O2. “The fit is exceptional and the team has already begun executing its go-to-market strategy with several exciting opportunities. We are grateful for Team Sage’s confidence in the SIB and O2 teams. We also extend our thanks to our financial partners TCF Capital Funding and LBC Small Cap Credit for their trust and continued support in this investment.
Sage was founded in 2004 by Scott Johnson and Patrick Lowell and today serves major telecommunications service providers, enterprises and government customers. The company strives to provide its customers with advanced software and tools to optimize costs and energize various business communication networks.
“We’ve spent the last 15 years perfecting our value proposition, and we’ve now reached an inflection point,” says Lowell. “The combination of Sage and SIB, driven by strong leadership and a dedicated team, will create new opportunities to expand our services to more customers and address a largely underserved market.”
“Sage introduces a new adjacency that transforms SIB’s telecom cost reduction capabilities,” said Kevin Flounders, CEO of SIB. “The company has seen impressive growth, and the combination of its industry-leading services with our go-to-market infrastructure will allow the entire platform to scale faster.
“Following the recent addition of The Fox Consulting Group, SIB continues to execute on its strategy of expanding the company’s service offerings and deepening vertical expertise. We look forward to working with the Sage team and growing together.