Historically viewed as a quaint New England state known for foliage and the "Live Free or Die" motto, New Hampshire is transforming into a bustling technology center full of digital innovation. Propelled by an entrepreneurial spirit and opportunities to put fresh ideas into action, the Granite State now boasts over 5,000 tech companies capitalizing on proximity to major markets paired with lower operating costs.
As you‘ll see in this comprehensive guide, New Hampshire has cultivated competitive advantages that empower leading tech enterprises, publicly traded giants, high-growth startups and small businesses alike to envision what‘s possible and make it happen. Let‘s explore the key players propelling the state to new heights.
The Heavy Hitters: NH‘s Largest Tech Firms
New Hampshire is home to four anchor companies that rank among the biggest tech names in the state when comparing market valuations and total yearly revenue.
Allegro MicroSystems Soars as a Semiconductor Leader
Founded in 1987 right in Manchester, Allegro MicroSystems now employs over 3,500 people across its 20 locations worldwide. This semiconductor manufacturer is flying high with a market cap of $6.1 billion as of August 2022 and trailing 12-month revenue reaching $768.7 million. Allegro‘s sensors and power components enable innovation in prominent growth sectors like electric and autonomous vehicles, data centers, factory automation equipment and green energy products. With more than 100 million units shipping every year, Allegro technology touches consumers daily through ubiquitous technologies.
Fun Fact: There are typically over nine Allegro products installed in the average car!
PC Connection: Staying Connected to Its Granite State Roots
Launched 40 years ago in 1982 by Patricia Gallup and David Hall, this IT solutions firm retains its New Hampshire headquarters. Now a Fortune 1000 company employing 2,500+ people, PC Connection delivers over 500,000 customized technology services and products annually to customers spanning across healthcare providers, school districts, manufacturers, retailers, and financial service institutions. Last year, PC Connection generated $2.9 billion in total consolidated revenue cementing its status as a national tech leader that still proudly represents its home state.
Fun Fact: The founding duo originally ran PC Connection from a tiny two-car garage!
Bottomline Technologies: Streamlining Digital Commerce
Founded in Portsmouth in 1989, this financial software innovator automates complex business payments, accounting workflows, and cash flow optimization for over 25,000 customer organizations globally. After going private in a $2.6 billion acquisition by San Francisco firm Thoma Bravo in 2022, Bottomline continues to operate from the New Hampshire seacoast region that birthed the company. In the 2021 fiscal year preceding the deal close, Bottomline achieved record revenue of $471 million.
Fun Fact: Bottomline solutions touch 92 of the world‘s 100 largest banks!
Skillsoft Upskills Digital Knowledge
As a pioneering EdTech firm founded in Nashua during 1998, Skillsoft delivers customizable learning software plus a robust content catalog spanning over 180,000 digitized courses, videos and text resources to help organizations engage employees and facilitate education. Boasting an impressive client roster covering 70% of Fortune 1000 companies plus partnerships with globally renowned institutions like MIT and Harvard Medical School, Skillsoft solutions currently reach over 45 million learners worldwide. As a publicly traded firm, Skillsoft reported strong 2022 revenue exceeding $567 million.
Fun Fact: Skillsoft averages 47 million course launches each month!
Homegrown Successes: Spotlight on NH-Birthed Tech Stars
As you explore New Hampshire‘s largest and most prominent tech players, you‘ll notice several highly successful companies that started locally and ultimately scaled globally while retaining their Granite State roots.
PC Connection Keeps Growing from Humble Origins
As previously highlighted, few New Hampshire tech businesses exemplify the quintessential startup-to-booming enterprise story better than PC Connection. Maintaining its Merrimack headquarters from Day 1 through today, Patricia Gallup continues to serve as CEO leading a Fortune 1000 company doing nearly $3 billion in yearly sales. Not bad for an operation launched out of a tiny two-car garage!
Moore Nanotechnology Paves the Way in Precision Manufacturing
Known industry-wide as "Nanotech," this private Keene company founded in 1997 revolutionized the ultra-precise machining needed for advanced optics applications spanning sectors from electronics to aerospace to defense. Lens optimization facilitated by Moore Nanotech‘s sophisticated tools enables everything from sharper smartphone cameras and AR/VR clarity to enhanced satellite imagery. Today, Nanotech continues its leadership stance with specialized technical centers in key strategic regions domestically and overseas.
Red River Technology Forges a National Reputation
Founded by a pair of Dartmouth colleagues in 1995, Red River Technology Solutions began operations in Hanover, NH before relocating corporate offices just south to Claremont. While retaining its NH ties, Red River organically expanded and supplemented growth through acquisitions to emerge as one of America‘s top independent providers of IT management, security and hosted infrastructure able to serve major airlines, prominent media brands, leading car makers and global manufacturing corporations.
Private Equity Bets on Granite State Innovators
Within the last five years, several promising next-generation New Hampshire technology firms attracted suitors for their coveted proprietary assets and upside potential. Private equity giants and Fortune 500 corporations invested in these standouts through strategic mergers and acquisitions.
Bottomline Technologies Joins Forces with Industry Pioneer
After establishing itself as a power player in the financial software realm, Portsmouth‘s Bottomline Technologies agreed to a $2.6 billion purchase offer from San Francisco‘s Thoma Bravo – one of the most respected and accomplished software private equity firms over the past 20+ years. Thoma Bravo‘s moves signal strong conviction in Bottomline‘s ongoing growth trajectory. By retaining existing leadership and New Hampshire personnel plus injecting fresh capital, Thoma Bravo aims to accelerate product roadmaps and market expansion.
Oracle Accelerates Dyn‘s Cloud Infrastructure Leadership
Dubbed a pioneer in DNS or domain name system technology, Manchester‘s Dyn brought cloud infrastructure vision to life in 1998 – years ahead of mainstream cloud adoption. Industry giant Oracle took notice by acquiring Dyn for an undisclosed sum in 2016 and rebranding it as Oracle Dyn to fuse Dyn‘s managed DNS expertise with Oracle‘s full suite of IaaS and PaaS solutions. Dyn‘s Manchester location persists as an Oracle hub today.
The Appeal of Public Markets
Several prominent New Hampshire tech organizations chose to pursue initial public offerings to access growth capital from retail and institutional investors while upholding financial transparency.
Allegro MicroSystems Makes Historic Market Debut
Manchester‘s semiconductor standout Allegro Microsystems raised $350 million in fresh funding by going public in October 2020. As one of the largest IPOs from a New Hampshire tech business, this watershed event garnered Allegro an initial market value nearing $3 billion while setting the stage for investments in expanded production capacity and next-generation sensing and power technologies.
PC Connection Primes for Acquisition Opportunities
Tracing its origins to a homegrown operation run out of a tiny NH garage, PC Connection gained an even larger platform for growth by listing shares on the NASDAQ exchange in 1998. Poised to build on its catalog of over 200,000 tech products and position among elite IT solution providers, public company status empowers PC Connection to continuously evaluate strategic buys to complement organic customer wins.
Skillsoft Levels the Playing Field for Learners Globally
As a learning software innovator expanding access to in-demand skills, Nashua‘s Skillsoft outlined aggressive international ambitions at the time of its 2021 public market debut. With nearly half of Skillsoft‘s revenue derived outside the U.S. today spanning customers in 160+ countries, public investment funds product localization efforts crucial to democratizing education for all.
M&A Bridges Geographic and Technical Expertise
Strategically blending regional pioneers through mergers aimed to fuse complementary strengths while preserving New Hampshire ties.
Optiv Fortifies Security Leadership via Adaptive Communications Deal
Denver-based cybersecurity giant Optiv sought East Coast expansion in 2016 by acquiring Adaptive Communications. Founded in Portsmouth during 1997, Adaptive built enterprise penetration testing, vulnerability assessments and risk analytics serving key public and private sector clients. Retaining Adaptive‘s facility and specialists, Optiv instantly gained customer intimacy and regional expertise.
Bluff Point Associates Forges Payments Powerhouse Out of True North Networks
True North Networks, the Swanzey financial tech firm launched in 2002, pursued aggressive M&A itself before accepting a merger proposal from private equity parent Bluff Point Associates in 2021. Bluff Point supplemented True North‘s processing domain expertise by marrying assets with Midwest POS tech provider RightSize Systems in 2022 – forming an end-to-end payments unit dubbed Versory while ensuring True North‘s NH foothold remained intact.
With trailblazing startups choosing New Hampshire as their launch pad paired with storied industry leaders and technology icons electing to invest in the state through mergers or acquisitions, the outlook shines brightly for the Granite State to continue climbing the ranks nationally as a flourishing tech sector. True to its "Live Free or Die" motto – the sky‘s the limit when it comes to envisioning what‘s possible!
