Hoverstate Acquired by SoftServe

Sellside Advisor to Hoverstate

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Hoverstate Acquired by SoftServe
The acquisition positions both companies as a single software solution source for digital native organizations.

Charlotte, N.C. – Hoverstate, a full-service digital engineering firm specializing in mobile and web-based solutions, announced it has been acquired by SoftServe, a premier IT consulting and digital services provider. SoftServe’s global footprint pairs with Hoverstate’s digital process automation expertise to reach a growing client base requiring human-centric solutions.

7 Mile Advisors acted as the exclusive sellside to Hoverstate throughout the entire transaction.

“Hoverstate has a unique position in the healthcare and health insurance industry, given their strong partnership with Pegasystems and an amazing roster of clients,” stated Andy Johnston, Partner of 7 Mile Advisors. “We appreciated the opportunity to work with an innovative management team to navigate their options in the market and close with a transformative acquirer.”

“It was a pleasure working with the founders and management at Hoverstate to realize the best outcome for them and the company,” said Ben Garber, Vice President at 7 Mile Advisors. “All sectors of healthcare are undergoing rapid transformation. Hoverstate has the rare combination of front-end human-centered design and back-end full-stack development capabilities powered by robust data science and intelligent automation technologies. Bringing these capabilities to bear with deep industry expertise enables Hoverstate to redefine what is possible for their clients. Joining SoftServe allows this team to amplify their impact in advancing innovation across the healthcare industry.”

Hoverstate’s intelligent process automation expertise is enhanced through SoftServe’s dynamic offerings and global footprint. Clients now have deeper access to accelerated cloud-based digital processes and increased developmental efficiencies using data and analytics, AI/ML, and experience-based software engineering.

“As a SoftServe company, Hoverstate expands our suite of innovative services to help our clients streamline processes and minimize costs in today’s macroeconomic environment,” said Chris Baker, CEO of SoftServe. “Hoverstate takes a human-centric approach that results in amazing user experiences and robust business outcomes that will be amplified across SoftServe’s clients and prospects.”

The acquisition reinforces Hoverstate’s known capacity for helping improve customer services, deepen engagement, reduce operation costs, and amplify their status as a Specialized Pega Partner in platform solutions for a global client marketplace. Hoverstate’s expertise with the Pega Platform accelerated the cost optimization associated with back-office operations. Their design-driven approach to the front-end office ensures deeper customer engagement.

Business outcomes will accelerate with Hoverstate leveraging their existing investments in technology solutions provided by Amazon Web Services, Google, Microsoft, NVIDIA, and SiteCore. Hoverstate’s holistic methodology enhanced by SoftServe’s AI/ML and advisory capabilities will create profound business outcomes for clients.

“We believe joining a strong digital transformation services provider is the best path to deliver increased capabilities and exceptional digital solutions to our clients,” said Rob Fauver, Chief Strategy Officer and Managing Partner at Hoverstate. “SoftServe shares our people-first values. The cultural synergies between the firms are unmatched. SoftServe’s global delivery network gets us closer to our clients. It makes our support agile and scalable. We’re ready for the future.”

For more information on recent 7 Mile transactions, or to find additional resources on M&A in the Clinical Digital Transformation ecosystem, visit our website at www.7mileadvisors.com.

About 7MA
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and 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. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.

About Hoverstate
Hoverstate is a full-service digital engineering firm focusing on digital strategy, mobile apps, web development and business applications with a deep expertise in the health insurance, pharmaceutical, and life sciences industries. The main capabilities are: AppDev, Service Design/CX/UX, UI, DevOps & Infrastructure, Big Data, AI/ML, RPA, Consultancy across primarily Healthcare and Media, Education, Financial Services verticals. For more information, visit www.hoverstate.com.

About SoftServe
SoftServe is a premier IT consulting and digital services provider. We help our clients expand the horizon of new technologies to solve today’s complex business challenges and achieve meaningful business outcomes. Our boundless curiosity drives us to explore, innovate, and identify the art of the possible. Clients confidently rely on SoftServe to architect and execute mature and innovative capabilities, such as digital engineering, data and analytics, cloud, and AI/ML. Our global reputation is gained from more than 30 years of experience delivering superior digital solutions at exceptional speed by top-tier engineering talent to enterprise industries, including high tech, financial services, healthcare, life sciences, retail, energy, and manufacturing. For more information, visit www.softserveinc.com/en-us.