Acquisition of GRC-Centric Abacode by Thrive Announced
Thrive Acquires Abacode: Strengthening Governance, Risk, and Compliance Capabilities
Thrive, a global technology outsourcing provider, has announced the acquisition of Abacode, a Tampa-based Managed Cybersecurity & Compliance Provider (MCCP). This marks Thrive's second acquisition of the year, focusing on enhancing its governance, risk, and compliance (GRC) capabilities.
The acquisition, for an undisclosed amount, reflects Thrive’s strategic expansion in compliance services, particularly strengthening its footprint in the Southeast U.S. Abacode's unique approach integrates cybersecurity and compliance into a single comprehensive program, aligning with Thrive's customer-first approach.
Michael Ferris, CEO of Abacode, stated that the alliance with Thrive will advance their mission of delivering measurable business outcomes through cybersecurity and compliance. Bill McLaughlin, CEO of Thrive, shared similar sentiments, emphasizing that compliance is a major challenge for many small and mid-sized enterprises, and Abacode’s robust offerings help address this by enabling clients to better manage complex and evolving cybersecurity regulations.
Thrive provides exceptional high-touch service through its POD approach of subject matter experts and global 24x7x365 SOC, NOC, and centralized services teams. With Abacode, Thrive expands its reach across sectors including financial services, healthcare, and government, supported by a workforce spanning the U.S., U.K., and Canada.
Abacode anticipates that Thrive's enterprise-grade infrastructure and global support will provide clients with unmatched expertise and scalability. Thrive's NextGen platform aims to increase business efficiencies through AI, standardization, scalability, and automation, delivering oversized technology returns on investment (ROI).
Recently, Thrive launched its new Compliance Center, filled with unrivaled resources and expertise that educates mid-market businesses on international, federal, state, and industry-specific regulations. This acquisition strengthens Thrive's compliance solutions and expands its presence in the Southeast U.S., in response to growing complexity in compliance mandates and cyber threats, including updates to standards like CMMC, changing AI legislation, and proposed changes to industry standards like HIPAA.
For more information about Thrive and its offerings, visit www.thrivenextgen.com. For media inquiries, contact Hannah Johnston at [email protected]. Thrive can also be followed on LinkedIn. The acquisition was advised by Stephens.
In summary, Thrive’s acquisition of Abacode:
- Strengthens Thrive’s Governance, Risk, and Compliance (GRC) capabilities through Abacode’s MCCP approach.
- Expands Thrive’s geographic and sector footprint, particularly in the Southeast U.S.
- Enhances Thrive’s ability to support mid-market clients in navigating increasingly complex compliance mandates such as CMMC, HIPAA changes, and emerging AI-related legislation.
- Reflects Thrive’s commitment to delivering integrated, scalable cybersecurity and compliance solutions with a customer-focused approach.
- Thrive, having acquired Abacode, is poised to strengthen its Governance, Risk, and Compliance (GRC) capabilities through Abacode's Managed Cybersecurity & Compliance Provider (MCCP) approach.
- This strategic move expands Thrive's geographic and sector footprint, particularly in the Southeast U.S., aligning with its customer-first approach.
- With Abacode, Thrive bolsters its support for mid-market clients, helping them navigate increasingly complex compliance mandates such as CMMC, HIPAA changes, and emerging AI-related legislation.
- Thrive's NextGen platform, powered by AI, aims to increase business efficiencies through standardization, scalability, and automation, delivering oversized technology returns on investment (ROI).
- Abacode anticipates that Thrive's enterprise-grade infrastructure and global support will provide clients with unmatched expertise and scalability in the field of cybersecurity and compliance.
- Thrive's recent launch of the Compliance Center offers unrivaled resources and expertise on international, federal, state, and industry-specific regulations, further demonstrating its commitment to the tech and cybersecurity sector.
