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 – July 2023 | |
MentorMate Acquired by Tietoevry | MentorMate, a digital engineering company headquartered in Minneapolis, MN, has been acquired by Tietoevry. MentorMate plays a key role in driving customers' digital agenda with its strategy, design, and engineering capabilities. | | |
BizAnalytica to be Acquired by Mastek | BizAnalytica, a data cloud and modernization solutions provider, will be acquired by Mastek, a Digital Engineering & Cloud Transformation Partner. The deal will provide BizAnalytica with global exposure in 40+ countries and access to an array of service portfolios. | | |
Stoneworks Technologies Acquired by Fulcrum IT Partners | Stoneworks Technologies, an IT consulting, implementation and integration services provider, has been acquired by Fulcrum IT Partners. Stoneworks’ areas of expertise include Cloud Computing, DataCenter, Virtualization, Big Data, Artificial Intelligence, Cyber Security, Mobility, Professional Services, and Support. Stoneworks manages resilient and reliable infrastructure for more than 500 corporations and government agencies in Canada. | | |
B2B Technologies Acquired by BlueAlly | B2B Technologies has been acquired by BlueAlly Technology Solutions. B2B Technologies is a Microsoft Cloud Partner in multiple Solution Areas, providing business productivity solutions using Azure, SharePoint, Teams, Power BI, and Microsoft 365. B2B's mission is to help its customers improve productivity, reduce risk, and maximize the return on their IT investments. | | | |
Accenture buys IT strategy firm Strongbow Consulting | Strongbow Consulting has been acquired by Accenture. Strongbow Consulting is a data-driven strategic advisory firm with deep expertise in helping organizations plan and execute technology transformation strategies, while minimizing risk and maximizing cost savings. | | |
CyVig Security Solutions Acquired by Global Market Innovators | CyVig, a managed security service provider known for its deep expertise in securing the enterprise ecosystem, has been acquired by GMI, a provider of secure technology solutions. CyVig, with its team of seasoned security experts and cutting-edge technologies, has earned a stellar reputation for delivering effective cybersecurity solutions to a diverse range of clients. | | |
IT Freedom Acquired by Thrive | IT Freedom, a technology managed services provider, has been acquired by Thrive, a provider of Cybersecurity, Cloud and Digital Transformation Managed Services. As a Texas MSP pioneer, IT Freedom has provided managed IT, security, network, and cloud services and support since 1999. | | |
RAD Computing Acquired by Brightworks IT | RAD Computing has been acquired by Brightworks IT. RAD Computing, founded in 2000, has expertise in IT Consulting, Networking, Disaster Recovery, Cloud Computing, and IT Security, with a special focus on aerospace manufacturing clients. | | | |
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
Associate
dwetterstrom@cherrytree.com
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.
| | | | |
