Cherry Tree & Associates has been actively monitoring trends and activity in the Information Technology Services space for more than 10 years. Along with monitoring the large, public players in the space through our public company index (IT Services 60), Cherry Tree closely tracks middle-market M&A trends that directly impact middle-market owners, operators, buyers and sellers. |
|
The five sectors within the ITS 60 are:
- IT Solutions (Integration & Transformation)
- IT Consulting
- Outsourced & Managed IT Services
- Staffing
- Value-Added Tech Resellers
|
|
Each issue of this newsletter highlights transactions involving Information Technology Services companies, as well as performance metrics for the ITS 60. |
|
Notable Transactions – April 2022 |
|
Wipro to Acquire Rizing
IT consultancy Wipro has agreed to acquire Rizing, a Stamford, CT-based SAP consulting firm, for an all-cash purchase price of $540 million. The deal is expected to close by June 30.
Read more
www.consulting.us
|
|
|
|
|
Oliver Wyman Invests in Blue Orange Digital
Oliver Wyman, a global management consulting firm and business of Marsh McLennan, announced it has acquired a minority stake in Blue Orange Digital, a data science, machine learning, and data visualization firm.
Read more
www.prnewswire.com
|
|
|
|
|
Staffing 360 Solutions to Acquire Headway
Staffing 360 Solutions, Inc., a company executing an international buy-integrate-build strategy through acquiring staffing organizations in the United States and the United Kingdom, has signed an agreement to acquire Headway Workforce Solutions.
Read more
www.globenewswire.com
|
|
|
|
|
ClearShark to Acquire FedBiz IT
ClearShark, a trusted advisor and top value-added reseller of cybersecurity and modernization technology to the Federal Government, has signed a definitive agreement to acquire FedBiz IT.
Read more
www.globenewswire.com
|
|
|
|
|
Net at Work Acquires ProServe Solutions
Net at Work, a full-service technology and business consultancy, has acquired ProServe Solutions, a leading Acumatica partner and business solutions provider.
Read more
www.netatwork.com
|
|
|
|
|
Omega Systems Completes Merger With ACE IT Solutions
Omega Systems, a portfolio company of Pfingsten Partners and managed service provider to highly regulated and security-conscious businesses, has merged with ACE IT Solutions, a New Jersey-based technology solutions provider.
Read more
www.prweb.com
|
|
|
|
|
|
Achieve Has Made a Strategic Investment in Skillstorm
SkillStorm has acquired Talent Path, a Hire-Train-Deploy company backed by Achieve Partners. Simultaneously, Achieve is making a strategic investment in SkillStorm.
Read more
www.prnewswire.com
|
|
|
|
|
Korn Ferry Acquires Patina Solutions
Founded in 2008, Patina provides services in executive and managerial search, interim-to-hire, and interim executive search. The firm places managers, VPs, and C-suite leaders in a wide range of functional roles.
Read more
www.consulting.us
|
|
|
|
|
Wipro Acquires Convergence Acceleration
IT services giant Wipro has acquired Convergence Acceleration Solutions, a Roswell, GA-based management and technology consulting firm serving the telecommunications industry.
Read more
www.consulting.us
|
|
|
|
|
Foundry Acquires Upstate Interactive
Foundry Digital, LLC, a wholly owned subsidiary of Digital Currency Group focused on digital asset infrastructure, has acquired Upstate Interactive, a Web3 software development and consulting company.
Read more
martechseries.com
|
|
|
|
|
Concord Acquires Evolytics
Founded in 2005, Evolytics helps financial services, technology, and ecommerce companies leverage their data with analytics tool implementation, meaningful insights, and training.
Read more
www.consulting.us
|
|
|
|
|
Brightstar Capital Partners to Combine ERC and Oasis Systems
ERC, LLC, has agreed to combine with Oasis Systems, LLC, to expand and scale advanced engineering, cybersecurity and technology-focused consulting solutions for global aerospace and defense communities.
Read more
www.prnewswire.com
|
|
|
|
|
|
Cherry Tree's "IT Services 60" index is comprised of roughly 60 publicly-traded companies with a collective market capitalization greater than $1.1 Trillion. |
|
IT Services 60 - Index Metrics |
|
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Our firm specializes in serving middle market companies and their owners, whether private, public, or divisions of larger corporations.
For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining financing, please contact our team.
|
|
Elmer Baldwin
Senior Executive Director
Phone: 952.253.6001
|
Mik Gusenius
Managing Director
Phone: 952.253.6005
|
|
David Wetterstrom
Senior Analyst
Phone: 952.253.6004
|
Cherry Tree & Associates
301 Carlson Parkway #103
Minnetonka, MN 55305
|
|
Prepared by David Wetterstrom |
|
Important Disclosures
The information included in this publication has been obtained from public sources and is not based upon private or confidential Cherry Tree information. Cherry Tree gathers its data from sources it considers reliable. However, it does not guarantee the accuracy or completeness of the information provided within this publication. Any opinions presented reflect the current judgment of the authors and are subject to change. Cherry Tree makes no warranties, expressed or implied, regarding the accuracy of this information or any opinions expressed by the authors. Officers, directors, partners of Cherry Tree and Cherry Tree proprietary investment funds may have positions in the securities of the companies discussed, and certain affiliates of Cherry Tree may recommend to specific clients the purchase and sale of securities discussed in the publication. This publication does not constitute a recommendation with respect to the securities of any company discussed herein, and it should not be construed as such. Cherry Tree or its affiliates may from time to time provide investment banking or related services to these companies. Like all Cherry Tree employees, the authors of this publication receive compensation that is affected by overall firm profitability. We undertake no obligation to update any information in this publication.
The ITS 60 Performance Index is a hypothetical index, and does not reflect an actual investment portfolio. Comparisons between the ITS 60 Index and other indices are for illustrative purposes only. Correlations in performance information for the ITS 60 Performance Index and other indices should not be relied upon as indicative of risks involved in owning or holding a portfolio of securities similar to the ITS 60 Performance Services Index. Past performance should not be relied upon as indicative of future performance.
|
|
|
|
|
|
|
