Edgewater Technology: 15 years and going strong

Celebrating its growth from five to over 300 employees since it opened in 1992, Edgewater Technology, located for the last nine years on Albion Street, recently opened its 30,000 square foot “West Wing” addition, having artfully renovated an adjacent mill to accommodate the ever-growing business.

A technology management consulting firm that provides a range of premium IT services, Edgewater caters largely to the middle-market as well as divisions of Global 2000 companies. With offices in Wakefield, New Hampshire, New York, Connecticut, Florida, Virginia and Arkansas, some of their clients include AARP, the Boston Globe, MIT, Oppenheimer, Sodexho, and VNA of America.

Despite the tragic December 2000 killing of seven employees by Michael McDermott, who was subsequently convicted and whose appeal for a retrial was denied April 13, the company continued and grew. 

“We made what we believe is a sound decision,” saidBarbara Warren-Sica, Edgewater’s VP of corporate communications, who has been with the company since 1998.

“We could have closed, but were committed to not doing that. We’re a family organization and decided to continue and move forward. We could have changed our name, but the incident will always be part of history. We will certainly never forget, but I think it made us stronger.”

Founded by Shirley Singleton, chairman and CEO, and David Clancey, executive VP and chief technical and strategy officer, Edgewater is now one of the largest information technology consulting companies in the commonwealth. Warren-Sica said its technicians are able to work with businesses to quickly assess their needs, make recommendations and implement the technology.

Taken public in 2000 by the company Staffmark — which sold off its 42 acquisitions, put $50 million in the bank and told Edgewater to “invest wisely” — Warren-Sica said the company’s stock has made a “huge comeback” and hopes to be on a $100 million run rate by the end of 2007.

One of its largest investors is Mario Gabelli, founder, chairman, and CEO of Gabelli Asset Management Company Investors, a $30 billion global investment firm headquartered in Rye, NY.