Lenexa-based RightSize Solutions has teamed up New Hampshire-based True North Networks to form Visory.
Founded in 2002, RightSize provides outsourced information technology management and cloud-based cybersecurity solutions. True North, also started in 2002, is a provider of SEC-compliant technology solutions, network security and support for independent registered investment advisors. Both companies are affiliated with private equity firm Bluff Point Associates.
Bluff Point portfolio company Swizznet, based in Chesterfield, acquired RightSize in 2020 for an undisclosed amount. At that time, RightSize CEO and founder Wes Stillman said that the company would operate as a sister firm and retain its Lenexa headquarters and expected to see significant growth in headcount and revenue.
Becoming Visory, RightSize will remain in Lenexa while True North will office out of New Hampshire. The company is headquartered in Chesterfield, where its hosting service business for accounting and construction companies will continue as Swizznet.
Visory CEO Bob Hollander said in a release that he believes world-class technology and cybersecurity should be accessible to every organization, and that bringing together the two companies will offer a deep bench of resources.
“We’ll continue to raise the bar on service and help clients use technology to do business better,” Hollander said.
TrueNorth founder Steven Ryder will become chief strategy officer for Visory. Stillman will remain as Visory’s chief technology officer.
“After many years of competing with one another, I’m excited to finally collaborate and work with Steven – we share a passion for helping advisors stay connected, cybersecure and compliant with innovative technology that really works for RIAs and others,” Stillman said in the release.
RightSize remained focused on expansion into the financial services industry, an opportunity first created when acquired by Swizznet. Prior to that, the company was seeing year-over-year revenue growth.