Compugen Reportedly Acquires Metafore
- Compugen 2014 Revenue Range $400 - 450M CAD
- Metafore 2014 Revenue Range $225 - 250M CAD
- Canadian IT solution provider Compugen has entered into an agreement to acquire fellow IT solution provider Metafore from Hartco, Inc., according to an article in CDN.
- A source close to the deal said regulatory requirements remained before the transaction can be closed.
- Both companies are prominent Canadian IT solution providers, and have been recognized in CDN's Top 100 Solution Providers listing. In the most recent list, Compugen was ranked at #3, while Metafore was ranked at #8. CDN estimates that the combined company will have revenues of $650-700M CAD in the Canadian market.
Who's the Best Owner of Your Assets?
- The Latest Divestment for Hartco: In recent years, Hartco, parent company of Metafore, has been working to divest multiple assets. In June 2014, the company sold its franchise network MicroAge to TMN Systems in order to concentrate on the commercial segment of its business. Previously, in late 2013, the company announced a strategic partnership with Tech Data Canada to hand over its distribution business.
- A Big Year for Solution Provider M&A: 2015 has seen many high profile consolidations in the solution provider space. In July, Toronto-based Scalar Decisions Inc. and Calgary-based Mainland Information Systems Ltd., both also CDN Top 100 solution providers, confirmed a merger agreement. In August, CDW announced that it completed its acquisition of UK-based solution provider Kelway.
- Smart Leadership Leads To Success: According to the media report, this deal was arranged by Hartco chairman Harry Hart and Compugen CEO Harry Zarek. Zarek, interviewed by martinwolf for last year's September issue of Executive Perspective, has been a leader in repositioning Compugen to emphasize its services - and later cloud - capabilities.
For more information about this transaction
, click here to read the media report in CDN.
not the advisor in this transaction.
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