Cherry Tree Advises Renodis in Acquisition of a Significant Stake in RCN Technologies and RTech
Renodis Acquires Significant Stake in RCN Technologies and RTech, Expands Capabilities to Keep Clients Connected through Wireless 5G and Solutions
RCN and RTech investments position Renodis as a leading provider of 5G LTE enablement solutions.
Renodis, a leading telecom management firm, today announced they have acquired a significant stake in RCN Technologies, a high growth provider of 5G and LTE enablement solutions, and RTech, an emerging leader of ‘all in one’ wireless connectivity Solutions-as-a-Service, both headquartered in Knoxville, Tennessee. Together, Renodis, RCN, and RTech provide seamless, full spectrum wireless communications solutions for enterprises seeking advanced technologies and innovative turnkey ‘as-a-service’ solutions.
Craig Beason, CEO and Owner of Renodis commented, “Our investments in RCN and RTech represent our third and fourth acquisitions on our continuous growth journey, and position Renodis as a leading provider of 5G and LTE enablement solutions. Renodis’ most important priority has always been ensuring the resiliency of our clients’ connectivity, advising on the right technologies, and providing best-in-class managed solutions. These investments mark a very important milestone in our continuous effort to ensure our clients have access to the industry’s best outcomes, greatest resiliency, and lowest costs, but we are just getting started! We look forward to continuing Renodis’ growth through strong customer relationships, meaningful partnerships, and strategic acquisitions in the months and years to come.
Geoff Yearack, Co-Founder of RCN and RTech Solutions adds, “We were looking for a partner to help us broaden our ability to bring real impact to enterprises through our 5G LTE enablement solutions and to fuel the growth of our POTS replacement and other managed “as a service” solutions. Renodis is the perfect partner to help us solve the complex enterprise challenges faced by our clients, and with Renodis’ support we intend to continue to bring innovative and leading 5G and LTE enablement solutions to the market.
For 20 years, Renodis has paved the way in client-centric connectivity technology solutions, driving a shift to end-to-end outsourced management. With solutions focused on Consulting, Sourcing, Lifecycle Management, and Expense Management Renodis serves our client’s full telecommunications and mobility environments. The Renodis Promise is to free IT leaders from telecom frustration while saving time, money, and increasing productivity.
Minneapolis based Cherry Tree & Associates served as the investment banking advisor on the transaction.
Renodis is a Connectivity Technologies Consulting, Sourcing and Managed Services firm. We help enterprises accelerate their copper to cloud journey resulting in less frustration from managing legacy technologies and suppliers, better utilized IT talent and improved support experience for their offices and people. All while client experience skyrockets and IT costs are reduced. A Saint Paul, Minnesota-based company since 2002, Renodis has helped hundreds of organizations with their communications technology transformations. Find out more at Renodis.com.
RCN Technologies is a 5G & LTE enablement specialist for business, providing end-to-end white-glove service to help customers stay connected with Fixed Wireless Service, Wireless Backup Internet, Managed Data, Rugged Connected Devices, and Private Cellular Networks. RCN focuses on providing the best end-to-end consulting, integration, field, and support services and manufactures all-in-one wireless solutions including the PNK, POTS-over-LTE Kit, Public Hotspot Kit, and more. RCN ranks on the Inc. 5000 list and holds numerous top-level partnerships with cellular industry titans. Founded in Knoxville, Tenn. in 2013, RCN has helped thousands of organizations with 5G & LTE-focused consulting, integration, field, and support services. For more information, visit rcntechnologies.com.
RTech Solutions is a single-source provider for LTE & 5G all-in-one solutions-as-a-service. RTech delivers customers turnkey cellular services backed by secure cloud-managed, cross-carrier pooled data. RTech’s bundled services combine best-in-class hardware, major U.S. carrier data, world-class tech support, and cloud management platforms for one low, fixed monthly cost. Popular services include solutions for converting POTS lines to operate over LTE networks, backup wireless internet, out-of-band management, and more. RTech is headquartered in Knoxville, Tenn. and has been making it easy for businesses to get connected since 2018. For more information, visit getrtech.com.
SOURCE: ST. PAUL, MINN. (PRWEB) MARCH 02, 2022
Cautionary note regarding forward-looking statements.
This announcement includes forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Such statements are based on current expectations, and actual results may differ materially. The forward-looking statements in this announcement are subject to a number of risks and uncertainties including, but not limited to, the possibility of continuing operating losses, the ability to adapt to rapid technological change, cost and difficulties we may face in integrating the businesses of XATA and GeoLogic Solutions, dependence on positioning systems and communication networks owned and controlled by others, the receipt and fulfillment of new orders for current products, the timely introduction and market acceptance of new products, the ability to fund future research and development activities, the ability to establish and maintain strategic partner relationships, and the other factors discussed under “Risk Factors” in Part IA, Item 1 of our Annual Report on Form 10-K for the fiscal year ended September 30, 2008 (as updated in our subsequent reports filed with the SEC). These reports are available under the “Investors” section of our Web site at www.xata.com and through the SEC Web site at www.sec.gov. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.
“Our investments in RCN and RTech position Renodis as a leading provider of 5G LTE enablement solutions. Renodis’ most important priority has always been ensuring the resiliency of our clients’ connectivity, advising on the right technologies…”
—Craig Beason, CEO and Owner, Renodis
Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.