Industry Related TransactionsSomething Digital Acquired by Genpact
Sellside Advisor To Something Digital
7 Mile Advisors Acted as Exclusive Sellside Advisor to Something Digital in Their Sale to Genpact
CHARLOTTE, NC — Genpact, a global professional services firm focused on delivering digital transformation, announces the expansion of their experience business, Rightpoint, with the acquisition of Something Digital. The addition of Something Digital’s deep commerce expertise to Rightpoint’s customer experience leadership will further enable Genpact’s ability to drive experience-led transformation at scale for clients across industries.
7 Mile Advisors acted as the exclusive sellside advisor to Something Digital throughout the transaction. Something Digital is located in New York and has more than 20 years of experience in successfully driving commerce, digital marketing, user experience, and design solutions for clients.
“We selected 7 Mile for their creative thought process, flexibility and access to senior management. During our process they brought a combination of industry knowledge, market awareness, and process capability that exceeded all expectations. Their team was always available, super clear with our strategy, and tenacious in their approach. We could not have asked for better bankers, and in our case, we could not have planned a better outcome,” said Mike Savino, Principal at Something Digital.
The shift in consumer behavior due to the COVID-19 pandemic has accelerated the adoption of digital commerce across industry verticals. As retailers are forced to rely on the digital world to facilitate buyer engagement and transactions, the need for partners who can offer leading digital-commerce solutions will only continue to increase.
“Something Digital is a digital specialist partnering with industry leading enterprise accounts to help them build, maintain and optimize robust e-commerce solutions. In a day and age where online sales channels have become so foundational to the success of an organization, we couldn’t be more excited to see this deal come together to allow the combined entities to provide more broad-based digital solutions,” said Andy Johnston, Partner at 7 Mile Advisors.
“Something Digital and Rightpoint share a commitment to creating the best commerce experiences possible. Bringing our teams together will increase our collective ability to design winning solutions that drive revenue growth for our clients,” said Greg Steinberg, Principal and Founder of Something Digital. “We look forward to bringing clients the benefits of our expanded capabilities.”
“As national brands and retailers de-emphasize their brick and mortar strategy, and CIO’s embrace e-commerce as a core requirement for long term growth, this transaction positions Something Digital to be a key partner in addressing the market trend towards omnichannel solutions. We view this transaction as further proof that the CMO’s budget is gradually shifting to the CIO, and oftentimes the two are merged together, as the e-commerce channel achieves the largest share of many company’s total sales,” said Andy Johnston, Partner, 7 Mile Advisors.
7 Mile Advisors’ specialization in the Business Services space has given them the opportunity to advise previous e-commerce clients including Springbox in their sale to Prophet, HelloWorld in their sale to Merkle, and Digital Fusion in their sale to Gorilla Group. For more information view the firm’s latest sector coverage at 7mileadvisors.com.
Terms of the deal were not disclosed.
About 7 Mile Advisors
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, as well as 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.
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