Cornerstone Information Technologies, LLC

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Cornerstone Information Technologies, LLC - overview

Established

2003

Location

New York, NY, US

Primary Industry

Outsourcing

About

Cornerstone Information Technologies, LLC delivers managed IT services and project solutions tailored primarily for small to mid-sized law firms, enhancing their operational efficiency and ensuring data security compliance. Founded in 2003 and headquartered in New York, US, Cornerstone Information Technologies, LLC specializes in providing IT solutions for the legal sector. The company has not undergone any significant pivots or changes in its core business operations. It was acquired by Logically, Inc.


, a portfolio company of The Riverside Company, on June 29, 2022. The founder's history and prior ventures are not documented, and the company has completed one notable deal in 2022. Cornerstone. IT is a managed services provider that specializes in delivering tailored IT and project services primarily for small to mid-sized law firms.


The company offers a comprehensive suite of products and services, including strategic IT planning, cloud migration, cybersecurity solutions, document management, and network infrastructure support. Their services enhance operational efficiency, improve collaboration, and ensure the security of client data in compliance with industry standards such as NIST 800-171. Cornerstone. IT serves a diverse client base across the United States, helping firms optimize their technology investments and adapt to evolving market demands, particularly within the legal sector.


Cornerstone. IT generates revenue through a subscription-based model, providing managed IT services and project services to legal firms across the United States. Their revenue structure includes ongoing monthly fees for comprehensive IT support, alongside fees for specific projects such as cloud migrations and cybersecurity enhancements. These engagements typically involve long-term contracts that ensure continuous service delivery and support.


The firm's revenue is driven by established relationships with law firms, relying on Cornerstone. IT for critical technology needs and strategic IT planning. Following its acquisition on June 29, 2022, by Logically, Inc. , Cornerstone Information Technologies, LLC will focus on expanding its footprint throughout the United States.


The rationale behind the acquisition is to enhance customer support while leveraging Logically's resources. Specific plans for new products or market expansion have not been detailed.


Current Investors

Logically, Inc.

Primary Industry

Outsourcing

Sub Industries

Business Support Services, Offshore IT Services/IT Outsourcing, IT Infrastructure

Website

www.cornerstone.it

Company Stage

Add-on

Total Amount Raised

Subscriber access only

Cornerstone Information Technologies, LLC - deals

Deals TypeDeal StatusTarget (s)Deal DateInvestor(s)Seller(s)Deal size (Mn)Enterprise value (Mn)Post-money valuation (Mn)EBITDA multiple (x)Revenue multiple (x)Lead partner (s)
Add-onCompletedCornerstone Information Technologies, LLC-

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