Baltimore tech and operations advisory firm Think is bringing former Legg Mason execs to its team and seeking a national foothold with a new acquisition.
Think is acquiring Naples, Florida-based Ventrue, which offers services to private equity and venture capital firms to assess companies prior to an investment, and strategize around tech and operations needed to help a company change and grow after a deal.
With the acquisition, Think is also forming a partnership with Naples Technology Ventures (NTV), a product-focused venture capital firm cofounded by Ventrue founder Mike Abbaei. With this, Think will now provide tech and operations services to portfolio companies of NTV.
Through the cash and equity deal (further terms were not disclosed), Abbaei and NTV cofounder Brij Sharma will become investors in Think. Also stepping into a leadership role on this front is Jeff Musgrove, who is joining as managing director to lead both the existing executive advisory business, as well as develop new business in VC and PE. He will also join as an investor in the next 24 months.
Abbaei and Musgrove have a history of working together. They were executives for 19 years at Legg Mason, the investment management firm that was long headquartered in Baltimore until a recent acquisition. Abbaei served as the company’s EVP and chief information and operation officer, as well as leading its tech services division, and both had a role in a significant M&A deal with Citigroup in 2005. After leaving Legg Mason, they went on to found Finix Business Strategies, which sold after less than two years in 2011, and held senior roles at acquiring IT service company DST Systems and services company Broadridge Financial Solutions.
Currently with 75 employees, Think has a base for employees to meet downtown at coworking space Spark Baltimore, as well as in Rosedale. There was also a previous presence in Florida that will now expand. Its website lists clients in a range of industries from edtech to financial services.
Read more at Technical.ly
- IT training leader Lance Lucas sentenced to 18 months for bribing state delegate - September 18, 2020
- Apple will distribute Baltimore startup’s ClearMask to employees - September 16, 2020
- With acquisition, Think joins with former Legg Mason execs to aim for national presence in PE, VC markets - September 10, 2020