Consulting Sector M&A Deals for week beginning 19th October

businessman doing handstand on the beachInfosys Consulting, Inc. (USA) acquired Noah Consulting, LLC (USA)
Deal Size: Undisclosed Industry: IT Consulting Date: October 2015
Infosys has acquired US-based Noah Consulting for a reported fee of $70 million. The deal will improve Infosys’ technology and analytics offering to its energy and utilities clients that continue to undergo often forced cost reduction and efficiency exercises as low oil prices cut into revenues and reserves. Noah Consulting was founded in 2008 and has its headquarters in Texas (Houston). The US consulting firm has a further office in Alberta, Canada, and employs 122 staff. The company is primarily focussed on delivering information management solutions, leveraging a number of best-practice data management, information quality, data integration, business intelligence, data warehousing and master data management solutions. Noah Consulting’s clients include a number of upstream oil and gas companies, ranging from oil field service companies, to independents, to super major players. Infosys, through the acquisition, will gain access to Noah Consulting’s information strategy planning, data governance and architecture capabilities, which will be synergised with its own technology and outsourcing services. The deal for Infosys is inspired by the need for oil companies to improve their operational efficiency as oil prices continue to be low. Noah’s analytic approach offers a further solution for Infosys’ energy and utilities clients, clients that provided the firm 4.7% of its revenues last year. “The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment. This requires a well-defined and executed information and data management strategy that will allow companies to increase efficiencies across the lifecycle – from exploration to production,” explains Rajesh Murthy, EVP and Global Head of Energy, Communications and Services of Infosys. “With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally.” (http://www.consultancy.uk)

Deloitte & Touche LLP (Canada) to acquire Asset Performance Group (Canada)
Deal Size: Undisclosed Industry: Engineering Consulting Date: October 2015
Deloitte announced today that it has entered into a definitive agreement to acquire the Asset Performance Group (APG), a leading asset reliability consultancy based in Burlington, Ont., and Calgary, Alta. This transaction brings new reliability engineering and maintenance capabilities to Deloitte’s Consulting practice, enabling the firm to deliver a full suite of asset reliability engineering, asset management and performance improvement services to capital-intensive industries across Canada, the U.S. and South America. “Acquisitions such as this demonstrate Deloitte’s commitment to providing integrated services that help our clients respond to the most significant challenges and opportunities facing their business”, said Jurgen Beier, Consulting, Energy & Resources Leader at Deloitte Canada. “By adding leading asset reliability engineering and performance management services to our Operations Excellence practice, Deloitte will be better equipped to meet the operational needs of our energy and resources clients.” “The team from APG will continue to build on the foundation we’ve established as a market leader in asset reliability,” said Sherry Revesz, Principal and Founder, Asset Performance Group. “By combining our expertise with Deloitte’s suite of Operational Excellence services, we will be able to offer clients a more comprehensive, end-to-end set of services.” (http://www2.deloitte.com

WSP Global Inc. (Canada) acquired MMM Group Limited (Canada)
Deal Size: Undisclosed Industry: Engineering Consulting Date: October 2015
WSP Global, Inc. (formerly GENIVAR, Inc.), a professional services company, has acquired MMM Group Limited (formerly Marshall Macklin Monaghan Limited), an engineering consulting company that specializes in transportation, infrastructure and environment and buildings, for approximately CAD425 million ($321.13 million). Both the companies are based in Canada. The consideration was paid primarily in cash and by the issuance of WSP shares to MMM employees for an aggregate amount of CAD22,133,211 ($14,917,300) at a price of CAD42.25 ($28.48) per share. The transaction was financed through a combination of (a) a public offering of common shares; (b) a private placement with the Canada Pension Plan Investment Board and the Caisse de depot et placement du Quebec, WSP’s two largest shareholders; and (c) funds drawn under the Corporation’s current credit facilities. (http://predictwallstreet.com)

SWK Technologies, Inc. (USA) acquired The Macabe Associates Inc. (USA)
Deal Size: Undisclosed Industry: IT Consulting Date: October 2015
Livingston-based SilverSun Technologies, Inc. announced that its wholly owned subsidiary, SWK Technologies, Inc. (the “company”), a national provider of transformational business technology solutions and services, has signed a non-binding letter of intent to acquire The Macabe Associates, Inc.,  a leading Seattle-based developer and reseller of Sage and Acumatica applications. Mark Meller, the Company’s Chief Executive Officer, stated, “The Macabe Associates has an impressive library of proprietary solutions and integrations, and a strong, established customer base. With our existing sales and marketing infrastructure, we believe we can substantially increase the revenue generated by these proprietary products.  We continue to execute on our business plan to increase value for our shareholders by increasing profitable sales and acquiring companies and technologies.” “This acquisition further enhances SWK’s position within the Sage and Acumatica ecosystems,” added Jeffrey D. Roth, Chief Executive Officer of SWK Technologies. “Our management talent, in-house expertise, and financial resources will enable us to rapidly accelerate sales from the Macabe customer base. Furthermore,  the addition of Mary Abdian and her team will provide us with additional development talent to create more proprietary applications and integrations.  We are very excited about this acquisition, and the opportunities it provides us for future growth.” (http://njbmagazine.com)

Energy Software Intelligence Analytics (UK) acquired Richmond Energy Partners Ltd. (UK)
Deal Size: Undisclosed Industry: Business Consulting Date: October 2015
ESIA, with backing from private equity company Energy Ventures, was formed to build a portfolio of businesses providing data, research, insight, and transaction services for the global energy exploration and production and support service sector. The first acquisition was Hannon Westwood, a northwest Europe offshore specialist based in Glasgow, Scotland, followed in July by Novas Consulting. Novas provides commercial and technical diligence, including asset-specific technical evaluations, to allow companies to take strategic decisions. It operates globally, with recent project experience in West Africa, Middle East, North Sea, North Africa, Latin America, and the Former Soviet Union. Richmond, formed in London in 2006, is known for its Wildcat Service, a web-based database and suite of analytical tools. The company provides intelligence on international conventional oil and gas exploration. (http://www.pennenergy.com)

Verus Advisory Inc. (USA) to acquire Strategic Investment Solutions, Inc. (USA)
Deal Size: Undisclosed Industry: Financial Consulting Date: October 2015
Consulting firms Verus Advisory Inc. and Strategic Investment SolutionsInc. are merging. The combined firm will have responsibility for more than $380 billion in assets under advisement, said Barry Dennis, SIS CEO and Jeffrey MacLean, Verus CEO, in separate interviews. The merger is expected to be completed Jan. 1. Strategic Investment Solutions will be renamed Verus, but SIS’ San Francisco office will remain open. Verus’ management team will manage the combined firm, and there will be no change in titles. Mr. MacLean will continue in his role as CEO. The firm’s management committee will also remain unchanged. Verus’ management team also includes Jeffrey Scott, chief investment officer; Shelly Heier, president and chief operating officer; Kraig McCoy, chief financial officer; Scott Whalen, executive vice president; and Omer Tareen, managing director. Verus added to its alternative investment capability when it contracted with Aksia LLC in April to gain access to its hedge fund investment team and due diligence reviews. The combined company will continue the relationship with Aksia. Mr. Dennis said the deal also makes sense because Verus brings additional research and risk management resources. It also facilitates succession planning, said Mr. Dennis, who will become a Verus managing director and a member of Verus’ board of directors. (http://www.pionline.com)

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