refresh

Mergers & Acquisitions

Learn More

Private Capital Raises

Learn More

Market Assessments & Valuations

Learn More

Business Services & Technology

Learn More

Industrial Services & Technology

Learn More

Healthcare and Life Sciences

Learn More

Consumer Services & Technology

Learn More

Emerging Markets

Learn More

Insurance Services & Technology

Learn More

Blog

Learn More

Quarterly Reports

Learn More

Sectorwatches

Learn More

Whitepapers

Learn More

Newsletters

Learn More
Deal Talk with 7MA

Your resource for invaluable insight into investment banking and the M&A space.

Learn More
Deal Us In

Conversation with women leaders and rising stars in the private equity and finance space.

Learn More
Back

Business Services & Technology M&A Research – June 2021

By Emily Halstenberg | June 30, 2021

Business Services & Technology M&A Research

7 Mile Advisors has released its monthly breakdown of M&A and benchmarking activity in the Business Services & Technology sector. Please see below for a listing of available research pieces and contact us if you would like to discuss them.

Our research provides insights into the most recent market trends, M&A activity, valuation metrics, and sector outlook.

Transaction Talk

Insights and intelligence on recent notable industry transactions

Gryphon Investors Acquires Highmetric, Fishbone Analytics, and Iceberg Networks

Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, has acquired the ServiceNow division of Highmetric, a global digital IT services provider, from The Acacia Group (“Acacia”). Gryphon has also acquired its first two additions to the Highmetric family – Fishbone Analytics, Inc. and Iceberg Networks.

These strategic additions will make the combined Highmetric the largest pure-play ServiceNow partner in the world, with 300 team members who bring expertise and experience across ServiceNow offerings with the added benefit of global delivery capabilities.

7MA served as a strategic buyside advisor to Gryphon. “7MA executed an incredibly efficient process allowing Gryphon to holistically canvas the ServiceNow Partner ecosystem and strategically select Highmetric, Fishbone Analytics, and Iceberg Networks to establish the world’s largest pure-play ServiceNow services platform. 7MA leveraged its industry expertise and relationships to facilitate these introductions, while also delivering a robust pipeline of future add-on acquisition opportunities. We look forward to continuing our partnership with 7MA as we look to grow Highmetric as well as our Microsoft Azure-focused platform, 3Cloud.” – Gabe Stephenson, Managing Director, Gryphon Investors. More details here.

CitiusTech Acquires SDLC Partners

CitiusTech, a leading provider of healthcare technology services, solutions, and platforms, has made a strategic acquisition of SDLC Partners, a Pittsburgh, PA-based provider of technology solutions to leading payer organizations. SDLC focuses on three key areas of payer technology needs – technology transformation, consulting, and automation solutions. With a team of more than 350 healthcare technology professionals, SDLC has specialized payer business expertise including member experience management, intelligent automation, data & analytics, and core applications.

The acquisition of SDLC comes on the back of strong growth for CitiusTech across all its market segments.

“By bringing together next-gen technology capabilities, deep industry expertise through FluidEdge Consulting and SDLC’s payer-focused solutions, we are uniquely positioned to drive digital transformation in the health plan industry,” said Eric Schultz, Executive Vice President, CitiusTech & President, FluidEdge Consulting (a CitiusTech company).

7 Mile Advisors acted as the exclusive buyside advisor to CitiusTech throughout the execution of this transaction.

CitiusTech, a leading provider of healthcare technology services, solutions, and platforms, announced today that it has made a strategic acquisition of SDLC Partners, a Pittsburgh, PA-based provider of technology solutions to leading payer organizations. SDLC focuses on three key areas of payer technology needs – technology transformation, consulting, and automation solutions. With a team of more than 350 healthcare technology professionals, SDLC has specialized payer business expertise including member experience management, intelligent automation, data & analytics, and core applications. The acquisition of SDLC comes on the back of strong growth for CitiusTech across all its market segments. 7 Mile Advisors acted as a strategic buyside advisor to Gryphon throughout the execution of this transaction. More details here.

SPIDA Software Acquired by Bentley Systems 

SPIDA Software, developer of specialized software for the design, analysis, and management of utility pole systems, has been acquired by Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company.

The acquisition of SPIDA, and subsequent integration with Bentley’s OpenUtilities grid digital twin cloud services, will aid in addressing the obstacles associated with transitioning to new renewable energy sources, such as increased demand for joint usage of utility poles to support 5G expansion and electric vehicle charging. Bentley’s acquisition of SPIDA will advance the modernization of the electric grid to improve reliability and resilience.

7 Mile Advisors (“7 Mile”) acted as the exclusive sellside advisor to SPIDA throughout the sale process. More details here.

Core BTS Acquires Aptera Software

Core BTS, an IT and managed services provider, announced its acquisition of Aptera Software, a Fort Wayne, Indiana-based software development company, specializing in Microsoft solutions.

The Aptera acquisition further advances the company’s application development and modernization capabilities, particularly on Microsoft Azure, enhancing Core BTS’ ability to meet the accelerating client demand for modern application solutions as part of holistic digital transformation.

“We are thrilled to welcome the Aptera team to Core BTS and provide our clients with enhanced application development and modernization services to ensure that all facets of their transformation needs are met,” said Paul Lidsky, CEO of Core BTS. More details here.

Argano Acquires Arbela Technologies

Argano, backed by private equity firm Trinity Hunt Partners, has acquired Microsoft Dynamics 365 Cloud Partner Arbela Technologies. Arbela Technologies brings expertise in cloud-based digital transformation including enterprise resource planning systems, customer relationship management, field service, business analytics, organizational change management, and processes that support data visibility and integrity across core operations.

The acquisition will grow Argano’s business with ERP, CRM, and Analytics solutions critical to the digital foundations that make businesses run better.

“Arbela accelerates our ability to deliver unparalleled strategy and technology expertise to our clients,” said Argano CEO, and former Co-CEO of PublicisSapient, Chip Register. More details here.

About 7 Mile Advisors

7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services & Technology industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. For more information, including research on the M&A markets, visit www.7mileadvisors.com.

Subscribe to receive newsletters and industry research, as well as details about recent transactions, new podcast episodes, and upcoming events:

Login

Don't have a login? Create an account