Business Services & Technology M&A Research – July 2021
By Emily Halstenberg | July 30, 2021
Business Services & Technology M&A Research
- Advanced Analytics
- Business Process Outsourcing
- Corporate IT Training & Educational Services
- Digital Transformation
- Enterprise Software
- IT Consulting
- Cybersecurity & Security Services
- Management Consulting
- Software Engineering
- Supply Chain Tech & Software
Insights and intelligence on recent notable industry transactions
NuAge Experts Acquired by ConvergeOne
ConvergeOne, a leading IT services provider of collaboration, cloud, and digital infrastructure solutions, acquired NuAge Experts (“NuAge”), a Boulder, CO-based premier Salesforce service provider.
Since its inception in 2015, NuAge Experts has helped organizations implement the Salesforce ecosystem to provide more complete customer service, improved sales processes, and closer engagement with their employees and partners. NuAge’s team of experts have over 235 certifications. They also provide campaign management, data, and managed services alongside their Salesforce expertise.
With NuAge Experts, ConvergeOne will have the ability to provide additional cloud-based solutions by adding leading-edge Salesforce integration and support capabilities to its already extensive portfolio of customer experience solutions.
Renovus Capital Partners Acquires LeapPoint
Private equity firm Renovus Capital Partners has acquired LeapPoint, a Reston, VA-based provider of work management technology consulting. Founded in 2006, LeapPoint helps clients in financial services, healthcare, and retail utilize work management technology to more effectively manage projects, enable increased collaboration and coordination, and improve team performance and business results.
LeapPoint has approximately 50 professionals who have particular expertise advising clients on Adobe and Workfront solutions. The consultancy’s other technology partners include Microsoft, Workato, and Allocadia.
Work management software has taken on added importance as the growth in remote work has increased the importance of digital collaboration and teamwork. Renvovus’ acquisition of LeapPoint is intended to scale the company to further capitalize on expected growth in demand in the space. More details here.
Thrive Acquires S7 Technology Group
Thrive, a provider of premier managed services, announced its acquisition of S7 Technology Group. S7 Technology Group, headquartered in Midtown Manhattan, is a value-driven technology firm that provides full-service IT solutions and ongoing support and managed services to financial institutions.
Its comprehensive end-to-end offerings, Azure Partner status, and focus on the Private Equity Support industry provide a competitive advantage for financial firms seeking to maximize their technology return on investment.
“Adding S7 and their talented management team to the Thrive family signals our continued commitment to enhance our financial services practice, particularly in New York. Thrive’s cybersecurity and advanced Microsoft digital transformation solutions, designed for financial customers, reinforce our mission to support the strategic technology needs of Private Equity firms with a unique blend of managed services, portfolio engagement services, and consulting to ensure security, compliance and performance,” said Rob Stephenson, CEO of Thrive. More details here.
IBM to Acquire BoxBoat Technologies
IBM (NYSE: IBM) announced its acquisition of BoxBoat Technologies, a leading DevOps consultancy and enterprise Kubernetes certified service provider. Founded in 2016, BoxBoat helps clients establish containers and Kubernetes as core driver for cloud solutions.
BoxBoat will extend IBM’s container strategy and implementation services portfolio to advance IBM’s hybrid cloud strategy and drive Red Hat OpenShift adoption on a global scale.
“Our clients require a cloud architecture that allows them to operate across a traditional IT environment, private cloud and public clouds. That’s at the heart of our hybrid cloud approach. No cloud modernization project can succeed without a containerization strategy, and BoxBoat is at the forefront of container services innovation,” said John Granger, Senior Vice President, Hybrid Cloud Services at IBM. More details here.
Brainscale Acquired by Tech Mahindra
Tech Mahindra, an India-based IT consulting firm, has acquired Brainscale, a NJ-based cloud consulting firm. Founded in 2007, Brainscale provides cloud enablement, migration, analytics, and managed services, with an expertise in Microsoft Azure. The firm works with small- and medium-sized businesses, as well as Fortune 500s.
Brainscale is a Microsoft Gold Partner for cloud platform, application development, and data analytics, as well as a Google Cloud Partner and an AWS Consulting Partner. Brainscale has 120 employees across offices in Princeton; Toronto, Canada; and Pune and Bengaluru, India. The firm had revenues of $10 million in 2020.
Tech Mahindra has purchased the firm for $28.8 million in cash, including earnouts, according to a regulatory filing from June 26. More details here.
About 7 Mile Advisors
7MA provides specialized Investment Banking & Advisory Services to the professional service firms in the Consumer Products & Retail industries. We help our clients determine the right strategic partners for their businesses, transition ownership, raise capital, grow through acquisitions, and evaluate new markets. We advise our clients on M&A and private capital transactions, and provide unique market insights. Our team brings experience and energy to all of our engagements, with a focus on helping our clients navigate a changing marketplace.
To learn more about how 7 Mile Advisors can help you evaluate and execute on strategic M&A or private capital alternatives for your business, please visit our website www.7mileadvisors.com.