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After a record year in 2014 driven largely by its AbacusFLEX private cloud solution, Abacus Group, a financial IT services provider, will open a new office in Los Angeles, according to a statement from the vendor.
Abacus added 60 clients last year and saw growth in its other managed services and hosted solutions, officials say. That increased demand “is due to a significant interest in managed services and hosted solutions from the financial services industry with both established financial institutions and up-and-coming start funds,” according to a company statement.
“We have seen an increasing number of hedge funds and private equity funds look to leverage the value of private cloud-based technology as a way to differentiate their offerings with greater innovation, security and efficiency,” says Brian Sigmond, director of business development and client technical services at Abacus, in a statement.
“In a vibrant startup market, we have been working with several West Coast clients that understand the scalability and cost-efficiency of the private cloud model. We expect continued interest in the region,” Sigmond says. “We are staffing the office accordingly to support the anticipated growth.”
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