Thrive expands compliance reach with Abacode acquisition
MASSACHUSETTS, UNITED STATES — Thrive, the Boston-based managed services and cybersecurity outsourcer, has acquired Tampa-headquartered Abacode, for an undisclosed amount.
The move is Thrive’s second acquisition in 2025, underscoring its push for governance, risk, and compliance (GRC) assets.
Thrive chief executive Bill McLaughlin said compliance remains “a hurdle for many small and mid-sized enterprises,” adding that Abacode’s “robust offerings and MCCP model align with our high-touch, customer-first approach.”
Global reach and continued growth
Thrive’s acquisition of Abacode supports its ongoing expansion in compliance services. The company serves clients across financial services, healthcare, and government sectors, with a workforce that spans the U.S., U.K., and Canada. Thrive recently launched a new Compliance Center to educate businesses on international, federal, state, and industry-specific regulations.
Michael Ferris, CEO of Abacode, commented, “Joining forces with Thrive allows us to take our mission of delivering measurable business outcomes through cybersecurity and compliance to the next level. Thrive has an established reputation for having enterprise-grade infrastructure and global support, offering clients unmatched expertise and scalability.”
Stephens acted as the exclusive financial advisor to Abacode in the transaction.
Company profiles and services
Thrive delivers technology outsourcing solutions globally, supporting organizations in the United States, the United Kingdom, and Canada. Its NextGen platform leverages AI, automation, and standardization to increase business efficiencies and ROI. Services include:
- Cybersecurity and cloud management
- Networking and IT managed services
- Advisory, vCISO, vCIO, and consulting
- Project implementation and solution architecture
- Subscription-based technology platform
- 24x7x365 SOC, NOC, and centralized support teams
Abacode specializes in outcome-driven cybersecurity and governance programs that help clients turn compliance into a competitive advantage. Its MCCP model offers a unified approach to risk management and regulatory compliance, serving mid-market businesses and regulated industries.
Thrive currently generates annual revenue of $33.5 million, while Abacode generated about $18.5 million in revenue last year.
