Alchemy Technology Group, backed by Avance Investment Management, has acquired IOvations, a Burlington, Massachusetts-based cybersecurity solutions provider. This move marks the company’s second acquisition in two months, expanding its cybersecurity portfolio and strengthening its Northeast U.S. market presence. IOvations specializes in endpoint detection and response (EDR) technologies, complementing Alchemy’s existing offerings.

The deal, though undisclosed financially, signals Alchemy’s aggressive push into high-demand cybersecurity services. By integrating IOvations’ expertise, Alchemy aims to enhance its ability to deliver tailored security solutions to mid-sized businesses across the region. The acquisition aligns with broader industry trends, as managed security providers increasingly consolidate capabilities to compete with larger rivals.

While specifics about deal size remain sealed, the transaction underscores Alchemy’s strategic focus on vertical integration within the cybersecurity space. Analysts note that such moves allow firms like Alchemy to scale rapidly while addressing growing client demand for comprehensive threat protection. This consolidation wave also raises questions about how smaller players can maintain agility amid rapid expansion.