Consulting Sector M&A Deals for week beginning 24th August

businessman doing handstand on the beach

Inovalon Holdings Inc (USA) to acquire Avalere Health LLC (USA)
Deal Size: $140 million Industry: Healthcare Consulting Date: August 2015
Inovalon, a leading technology company providing advanced, cloud-based data analytics and data-driven intervention platforms to the healthcare industry, has entered into a definitive agreement to acquire Avalere Health, Inc., a leading provider of data-driven advisory services and business intelligence solutions to the pharmaceutical and life sciences industry. The addition of Avalere, with its more than 200 pharma/life sciences clients, is expected to significantly expand Inovalon’s leadership in the broader healthcare marketplace and enables the company to expand its industry leading capabilities into an expansive adjacent market. Avalere, a growing provider of data-driven advisory services that already serves 13 of the top 15 pharma companies, will operate as a subsidiary of Inovalon, enabling Inovalon the ability to offer a powerful combination of business intelligence, cloud-based analytics, and data-driven insights to the pharma/life sciences industry. Avalere’s CEO, Dan Mendelson, will join the executive leadership team of Inovalon where he will continue to lead the day-to-day operations of the core business of Avalere. (http://www.prnewswire.com/news-releases/inovalon-to-acquire-avalere-to-drive-strategic-expansion-into-pharmalife-sciences-300132444.html)

Softtek S.A. (Mexico) acquired Itarvi Consulting (Spain)
Deal Size: Undisclosed Industry: Management Consulting Date: August 2015
Softtek, founder of the nearshore industry and leading global IT services provider dedicated to creating value through technology, today announced the acquisition of Itarvi Consulting S.L., specialist in multichannel banking services in Madrid, Spain. This acquisition will contribute to strengthening Softtek’s operations in Europe, as well as expanding its reach and capabilities to provide digital solutions to companies with operations in Europe and the Americas. Itarvi Consulting, with operations in Madrid, provides digital transformation solutions using agile methodologies for large companies, particularly in the Financial Services sector. This operation complements Softtek’s current presence in Spain from its office in Madrid and global delivery center located in A Coruña. “Our integration into Softtek maximizes the value we provide to both our clients as well as our employees,” said Pedro Perelló, CEO of Itarvi Consulting. “Our experience creating digital solutions for the Financial Services sector, now combined with Softtek’s global capabilities, fosters a very attractive value proposition that will reinforce our positioning and growth in the Spanish market.” Softtek helps organizations prosper in the digital era through a broad portfolio of services and solutions that enable business transformation, improve efficiency and increase IT efficacy. (http://www.softtek.com/newsroom/news-releases/softtek-acquires-itarvi-consulting-specialist-in-multichannel-banking-services)

Citrin Cooperman (USA) merged with Regardie, Brooks & Lewis (USA)
Deal Size: Undisclosed Industry: Management Consulting Date: August 2015
Citrin Cooperman has merged in Regardie, Brooks & Lewis, a regional accounting firm based in Bethesda, Md. With the addition of Regardie, Brooks & Lewis, Citrin Cooperman expects annual revenues to exceed $185 million. The new addition, which is expected to close on Sept. 1, 2015, will bring approximately 25 new professionals and six new partners to Citrin Cooperman, while expanding its reach to the D.C. metro market. We are excited about the strong synergies between Citrin Cooperman and Regardie, Brooks & Lewis, which share an entrepreneurial spirit and a culture of excellence by focusing on what counts with superior client service,” Citrin Cooperman CEO Joel Cooperman said in a statement. “We have long wanted to be in the Washington D.C. marketplace and we finally found a firm with similar values and dedication to client service. The partners and staff of Regardie Brooks & Lewis will add tremendous talent and expertise to our firm, while extending our capabilities from the New York metropolitan area to the Middle Atlantic region. We are very proud to have them join us.” Regardie, Brooks & Lewis has been offering audit, tax, consulting, and comprehensive business management services for over 80 years. The firm serves a wide range of clients, including entrepreneurial businesses, professional service firms, not-for-profit organizations, real estate and construction firms, health care facilities, schools, employee benefit plans, retailers and wholesalers, and individuals. (http://www.accountingtoday.com/news/firm-profession/citrin-cooperman-boosts-its-presence-in-dc-metro-with-merger-75583-1.html)

WSP Global (Canada) to acquire MMM Group Limited (Canada)
Deal Size: $425 million Industry: Engineering Consulting Date: August 2015
WSP Global Inc., one of the world’s biggest pure-play engineering consulting firms, has announced it will acquire MMM Group, a private engineering services firm specializing in large-scale, complex P3 projects involving buildings, transportation and other operations. In a $175 million bought deal public offering and a $125 million private placement, WSP will adopt 18 offices across seven provinces. Upon closing, WSP is expected to employ about 8,500 employees, with 3,200 located in Ontario. WSP is also poised to have net revenues of $1 billion in Canada. WSP says the deal allows the company to leverage its global position in the P3 market and create a stronger presence in Ontario, specifically in the Greater Toronto Area where aging infrastructure and rapid population growth remain major issues. “This acquisition perfectly fits within the priorities of our Canadian growth strategy, which is focused on becoming a top player across the country, in all the sectors in which we operate,” said David Ackert, president and chief executive officer of WSP Canada Inc. (https://www.reminetwork.com/articles/wsp-global-to-acquire-mmm-group/)

SQS Software Quality Systems AG (Germany) to acquire Galmont Consulting LLC (USA)
Deal Size: $24.7 million Industry: IT Consulting Date: August 2015
SQS Software Quality Systems AG on Thursday said it has reached a conditional agreement to buy US-based software testing consultancy Galmont Consulting LLC for up to USD22.0 million in cash and shares. Galmont has a leading position in the software testing consultancy market in the Midwest region of the US, and the deal will complement SQS’s existing banking, financial services, insurance and manufacturing sector operations. The acquisition also will boost and diversify SQS’s revenue base by materially expanding its US business. “This is SQS’s second acquisition in the US and follows the successful integration of US-based management consultancy business Trissential, announced in April. The acquisition of Galmont, which has built an outstanding and established reputation, significantly expands our presence in this large and growing market for us,” said Diederik Vos, SQS’s chief executive. (http://www.morningstar.co.uk/uk/news/AN_1440665123661837000/sqs-software-quality-systems-buys-uss-galmont-for-usd22-million-(alliss).aspx)

SISS Consulting Inc (USA) acquired Global DTC Ltd (UK)
Deal Size: Undisclosed Industry: IT Consulting Date: August 2015
SISS Consulting Inc. (“SISS”) – the Cyber Security arm of Stealth ISS Group – a global IT services provider has announced the purchase of Global DTC Ltd (“DTC”), a global IT Consulting services and management company headquartered in the United Kingdom, to enhance their IT services portfolio and extend their reach globally. This transaction enables improved levels of collaboration and solution delivery in client engagements while leveraging SISS Consulting capabilities and highlighting Global DTC’s IT Management Consulting specialisms. As part of this transaction, SISS has added DTC’s clients to its portfolio to provide them with access to its global IT services capabilities and a broad range of cutting-edge technology and cyber security services. The DTC leadership team has joined the leadership of SISS Consulting and manages all existing operations in the UK and EMEA until further integration plans are established. SISS and DTC established a working relationship over recent years by partnering on multiple projects globally, consisting of the delivery of various IT Consulting and Cyber Security services and products. SISS had previously relied on DTC for providing Executive IT Managerial Consulting services to its clients in the UK and Middle East for example. DTC now uses SISS to deliver CyberSecurity capabilities globally. The acquisition of DTC provided SISS with a broader geographic footprint in the European Zone and the ability offer the extensive IT Consulting services to its clients anywhere in the world. This has added breadth and delivery experience to its already deep service offering particularly in Cloud, Big Data, IT Infrastructure and in High Power Computing. (http://www.prlog.org/12488165-siss-consulting-inc-has-acquired-global-dtc-information-technology-consulting-business.html)

Crestwood Associates LLC (USA) merged with Visions Business Solutions (USA)
Deal Size: Undisclosed Industry: IT Consulting Date: August 2015
Brian McGuckin, Co-Owner of Crestwood Associates LLC announces that Crestwood has entered into a merger with the long-time Oak-Park-based Acumatica, Sage and Greentree consulting firm, Visions Business Solutions (VBS). VBS will operate under the Crestwood Associates name. Crestwood Associates provides Microsoft Dynamics and Acumatica accounting and business management solutions to mid-sized companies, and has done so for 17 years. This is Crestwood’s second merger in 2015, emphasizing the firm’s focus on growth and its determination to offer clients an expanding portfolio of products and services. Crestwood is also proud to note that the merger was completed without the support of a third party financial organization. “We don’t look for support from external parties in order to remain focused on our company’s goals and the goals of our clients,” says Crestwood’s McGuckin. The addition of VBS’s thriving Acumatica and Greentree Practice, along with a significant client base in the Chicagoland area, enables both firms to deliver more services to a greater number of clients. “We are excited to welcome our VBS colleagues as we join forces to help our clients achieve their goals,” said McGuckin. “By joining two long-standing, customer-focused organizations and leveraging our deep Microsoft Dynamics and Acumatica expertise, we are positioned to offer even more value to our current and future customers.” (http://www.prlog.org/12488009-crestwood-associates-llc-announces-merger-with-visions-business-solutions-vbs.html)

Techwave Consulting Inc (USA) to acquire Infotech Enterprises IT Services Limited (India)
Deal Size: Undisclosed Industry: IT Consulting Date: August 2015
Techwave Consulting, Inc., a US-based global system integrator that provides information technology (IT) enabled business solutions, has signed a definitive agreement to acquire Infotech Enterprises IT Services Private Limited (IEITS), an India-based provider of enterprise resource planning (ERP), open source technologies and remote infrastructure management services. IEITS is a wholly-owned subsidiary of Cyient, Ltd., an India-based provider of design engineering services, network engineering and operational support services, as well as data transformation services. The acquisition enables Techwave to further enhance its global capabilities in Europe and Asia-Pacific. The divestment will enable Cyient to focus on its engineering services and data, network and operations business. (http://www.individual.com/storyrss.php?story=208798875&hash=11575f2b55eeb35ec3cc62ab2a1f157c)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s