Portside Technology Acquires isofyPortside Technology
Portside Technology, a team of seasoned technologists providing professional services and technology infrastructure solutions to the commercial real estate industry, has acquired isofy, a simplified network management platform for coworking and flexible workspaces. Portside Technology explored existing products in the market to deliver a simple and cost-effective network management solution to its coworking and flexible workspace clients. After an extensive diligence process, isofy was identified as the premier solution uniquely suited for the operational and technical challenges of these operators. The exploration-to-acquisition process took over a year, and the deal was signed May 10th, 2022 with immediate effect.
isofy's deep-rooted client relationships and strong domain expertise, coupled with Portside Technology's service delivery capabilities, will deliver an end-to-end solution with immediate value to both existing and future clients. Stymied by the pandemic, isofy never had a "formal" market launch after being developed in 2019. Despite those circumstances, isofy still experienced robust organic growth and is currently active at many flexible workspace brands across the United States.
"We're thrilled to bring isofy into the fold, as another tool in the toolkit in our pursuit to provide flexible workspaces with resilient, cost-effective, and unified technology infrastructure solutions," said Zach McNamara, Founder and Owner of Portside Technology. "Bradd Konert and the entire isofy team have built an incredible product and platform. I'm beyond honored and grateful for their trust in us to take it to the next level, continuing to build on their foundation of product excellence and legacy of meaningful relationship building."
There will be no changes for existing isofy clients. Portside Technology will become the exclusive distributor, as the service delivery arm of isofy, as isofy continues to operate as an independent company. This positioning allows Portside Technology to remain focused on end-to-end solution delivery through their Workplace Infrastructure offering, while isofy continues to prioritize service reliability, product development, and increasing market share. In addition to his duties at Portside Technology, Zach McNamara will lead isofy as CEO, with an immediate goal of increasing brand awareness, filling key leadership positions, and further developing integrations with complementary platforms.
"We are excited for Portside Technology to take isofy to the next level," says Bradd Konert, Founder and current President of isofy, "Their understanding of the coworking industry along with their shared values made them the ideal partner for this acquisition. We look forward to seeing what's next for the platform and the customers of isofy under their leadership."