Former CIO of Comcast Joins Magna5 Board of Directors

PITTSBURGH, Feb. 22, 2022 /PRNewswire/ -- Magna5, a national provider of managed IT services and a NewSpring Holdings platform company, announces the appointment of Scott Alcott, former CIO of Comcast, to its Board of Directors. Alcott's distinguished career in information technology services spans multiple international and Fortune 500 companies including AT&T, Cellular One, and Proximus, a leading global telecom services company headquartered in Brussels, Belgium.

Scott has been frequently named to the 100 Most Influential Global CIOs list and has won the Global Telecom Innovation Award in 2009. He also helped lead one of Europe's biggest IPOs and was an executive at WeServeHomes, a Kleiner-Perkins dotcom start-up sold to ServiceMaster, a Fortune 500 company. Scott is a highly demanded public speaker and frequent university lecturer about technology, cyber security, and future trends and has been featured at Loyola, Bucknell, and Widener University as well as the Vlerick Business School in Europe.

"We are thrilled to have Scott Alcott join us at such a transformative time in Magna5's evolution as we continue to build a market-leading Managed IT Services business," says Bob Farina, CEO of Magna5. "Scott's broad domain experience in the IT sector combined with a seasoned career of pioneering the deployment of robust network technology to deliver leading customer-centric solutions will help us enhance our product and go-to-market strategies to make Magna5's solutions even more effective for our customers."

"I am excited to be part of the Magna5 team during this pivotal time of growth, innovation and service expansion," says Scott Alcott. "The demand for cybersecurity, data recovery and cloud services in the lower middle market combined with Magna5's superior service offering positions the company exceptionally well for continued expansion."

About Magna5

Magna5, a NewSpring Holdings platform, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced IT services to mid-market and enterprise customers, including leaders within the education, healthcare, government, financial services, manufacturing, and other industry segments. Headquartered in Pittsburgh, PA, Magna5 has customers nationally. For more information, visit www.magna5global.com.

About NewSpring Holdings

NewSpring Holdings, NewSpring's dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

SOURCE Magna5