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SilverTech acquires Indiana-based website design firm

New Hampshire Union Leader

March 21. 2018 12:05AM
SilverTech, a digital marketing company based at the former Ash Street School building in Manchester, has acquired a website development firm based in Indiana. (UNION LEADER FILE)

Nick Soggu is president of SilverTech Inc., a digital marketing company that employs nearly 100 people in Manchester and has acquired Indiana-based Bitwise Solutions. (UNION LEADER FILE)

MANCHESTER — SilverTech is beginning its westward expansion with the acquisition of Bitwise Solutions, a website design and development firm based outside Indianapolis.

For the Manchester digital marketing agency, the deal brings a complementary business into the fold as well as the chance to gain a foothold in a fast-growing tech community, says Jeff McPherson, the company’s chief digital officer and architect of its growth strategy.

“What the Midwest really allows us to do is tap into a different location for talent,” McPherson said in an interview Tuesday after SilverTech announced the deal. “All the research that we were doing was really focused around how Indianapolis is becoming a massive tech hub growth center in the U.S. And it was creating opportunity for the type of workers that we were looking for — very, very similar to what Manchester has been doing.”

With the deal, SilverTech expands its workforce to about 120. That includes nearly 100 based in Manchester, where the company says it has added more than a dozen workers over the past 12 to 18 months. SilverTech will retain the current Bitwise Solutions staff, including the long-time ownership team of Ron Brumbarger and Scott Workman.

“We’re proud of the history that Bitwise has created over the past two decades in the greater Indianapolis community,” Brumbarger, former owner and CEO of Bitwise Solutions, said in a statement.

Likewise, SilverTech has been in the Manchester community for more than two decades. Since its founding in 1996, the company has made three acquisitions, the last two over the past year.

In early 2017, SilverTech CEO Nick Soggu and a group of investors purchased Pannos Marketing, an agency based in Bedford that specializes in banking.

“Our goal is to create a collective of organizations that ultimately complement each other and enhance the services that are available to our customers,” Soggu said in a release Tuesday.

Bitwise and Pannos brought different things to the table, McPherson said.

“In the case of Bitwise, they were very strong in engineering for a few of our key partners, and that was an area that we’re seeing growth in,” McPherson said.

Pannos complemented SilverTech’s work in financial services, he said.

“Where SilverTech has dozens of banks across the country, Pannos was at the time, or still is, strong in financial services but in a more traditional marketing footprint,” McPherson said. “It was complementary to the work we were doing for clients already.”

McPherson says SilverTech, which occupies the former Ash Street School building, is committed to Manchester but has long considered expanding outside New Hampshire.

“We’re going to continue obviously growing Manchester, but we also really want to grow the Midwest. There’s a different type of opportunity that lies out in the Midwest,” he said. “We have a very strong partner network with partners like Sitefinity, Sitecore, Kentico, And all of those partners are really seeing heavy growth in the Midwest as well so it’s a very logical expansion for SilverTech to head down that path.”

Bitwise is located in Carmel, a small city close to Indianapolis, and its growth is closely tied to Indianapolis. Sound familiar?

“I would actually describe it as a mirror image of the Manchester-to-Boston scenario,” McPherson said. “Carmel is 20 to 30 minutes north of Indianapolis. Carmel is about 105,000 people and is very similar to Manchester. It fit very nicely into our overall growth strategy.”


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