Avance-backed Alchemy Technology Group acquires Freeit Data Solutions

Alchemy Technology Group, a cybersecurity advisory, consulting and reseller firm backed by Avance Investment Management, has acquired Freeit Data Solutions of Austin, Texas. Terms were not disclosed. The companies announced the deal on Oct. 28, 2026.

Freeit, which has operated for more than 16 years, provides data management, infrastructure and cybersecurity solutions and focuses on state, local and education customers, including work under Texas procurement and channel requirements. Alchemy said the addition extends its security, hybrid cloud, data protection and storage capabilities and its reach into enterprise and midsize commercial accounts.

Alchemy Co-CEO and co-founder Wes Davis said Freeit's relationship-driven approach matches how Alchemy serves customers. Freeit President Wayne Orchid said the combination gives his team broader resources while keeping existing customer relationships. Alchemy described the purchase as part of a strategy to build a national platform through targeted acquisitions alongside organic growth.