Managed Cloud Services Provider Doubles Revenues from last quarter of 2016
Abacus Group, a leading provider of hosted cloud IT solutions for alternative asset funds, today announced that it added 25 new clients in the first quarter of 2017, including a large institutional investor with multiple offices in the United States, United Kingdom and Asia. During the quarter, Abacus doubled its revenues as compared to the last quarter of 2016.
“The growth of Abacus in the alternative asset management space continues at a rapid pace,” said CEO Chris Grandi, who founded Abacus in 2008. “During the past quarter, we expanded our new data centers in London and in Dallas, increasing our data processing capabilities and capacity to meet the analytic demands of our customers.”
Grandi added that during the past six months, Abacus has rolled out product enhancements, including a robust and secure infrastructure technology solution for remote/satellite offices in an easily managed single device, and the introduction of an inventory and asset control module for the Abacus Portal that assists clients with meeting OCIE requirements. In addition, Abacus continues to expand its AbacusFLEX client base in the UK with the addition of a recently launched large, high-profile hedge fund.
Abacus has continued to receive recognition and accolades, including the CRN Elite 150, and Top 500 Managed Service Providers. In addition, Abacus was an active participant in:
- The new Data Management Working Group for the alternative asset industry in New York.
- ALTSLA, the West Coast’s premier alternative investment conference, in Los Angeles.
- “Cyber 4/4” that centered on cyber security responsibilities and best practices for asset managers in the San Francisco area.
Grandi added that Abacus’s industry-leading cybersecurity solutions, deployed in the past year through partnerships with Kaspersky Lab, Foresite and Palo Alto Networks, continue to be in high demand among alternative asset management firms seeking an end-to-end IT solution. “Cybercriminals target financial services firms like bank robbers target banks,” Grandi said. “Abacus provides a secure environment in which our clients can do business.”
Abacus Group, LLC is an IT solutions firm focused on helping hedge funds and private equity funds deploy and manage hosted IT solutions. Our objective is to provide investment managers and technology executives with solutions to improve their IT service experience. Abacus has developed a scalable, redundant and highly available IT platform to allow investment managers to run all of their technology as a service. The days of purchasing new hardware every few years are over. Abacus manages mirrored data centers throughout the US and provides cost effective and efficient solutions. Firms connect to their IT applications and data through high speed circuits with minimal onsite equipment.