ITS 60 revenues have grown 10% over last year, and valuations have risen over 5% since December 2022 and over 11% since September 2022. 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. |
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The five sectors within the ITS 60 are:
- IT Solutions (Integration & Transformation)
- IT Consulting
- Outsourced & Managed IT Services
- Staffing
- Value-Added Tech Resellers
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Each issue of this newsletter highlights transactions involving Information Technology Services companies, as well as performance metrics for the ITS 60. |
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Notable Transactions – January 2023 |
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nVisium Acquired by NetSPI
nVisium, a VA-based security testing company, has been acquired by NetSPI, a Minneapolis, MN-based provider of enterprise penetration testing and attack surface management.
Read more
www.finsmes.com
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Excellarate Acquired by Encora
Excellarate, a global technology services and solutions company with over 20 years of domain expertise within health, insurance, financial and enterprise technologies, has been acquired by Encora, a global next-gen product engineering provider.
Read more
www.prnewswire.com
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CMIT Solutions and HTW Acquired by HKW
CMIT Solutions, a leading IT Managed Service Provider franchisor, and HTW, Inc., CMIT’s largest franchisee, have been acquired by HKW, a middle-market private equity firm focused on growth companies.
Read more
www.yahoo.com
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Zigatta Acquired by Improving
Zigatta, a software development and consulting firm specializing in high end data, cloud, software engineering, and architecture, has been acquired by Improving, an IT Services firm.
Read more
dallasinnovates.com
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Global Infotech Acquired by Intelliswift Software
Global Infotech, a consulting firm specializing in Salesforce development, business/product orchestration, enterprise IT integration and testing, has been acquired by Intelliswift Software, a digital transformation and talent solutions provider.
Read more
www.yahoo.com
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Xoriant Acquired by ChrysCapital
Xoriant, a provider of services and solutions focused on Digital Product Engineering, Cloud Infrastructure & Operations, Security, Data Engineering/Management & Analytics, has been acquired by ChrysCapital.
Read more
www.finsmes.com
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Mythics Acquired by One Equity Partners
Mythics Emergent Group, a reseller, distributor and implementation partner of cloud-based software products to the public sector, has been acquired by One Equity Partners.
Read more
washingtontechnology.com
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High Point Solutions Acquired by Hexaware Technologies
High Point Solutions, a global provider of Technology Infrastructure and Managed Services, has been acquired by Hexaware Technologies, a global IT consulting, technology and digital solutions provider.
Read more
www.yahoo.com
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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. |
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IT Services 60 - Index Metrics |
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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.
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Elmer Baldwin
Senior Executive Director
Phone: 952.253.6001
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Mik Gusenius
Managing Director
Phone: 952.253.6005
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David Wetterstrom
Associate
Phone: 952.253.6004
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Cherry Tree & Associates
301 Carlson Parkway #103
Minnetonka, MN 55305
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Prepared by David Wetterstrom |
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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.
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