Private Equity Acquires ServiceNow Government Partner; Pursues Cybersecurity Opportunity
Private equity firm Godspeed Capital Management has acquired Savli Group, a ServiceNow professional services partner focused on federal government agencies. Godspeed will align Savli with two other recent acquisitions to push deeper into government cybersecurity services. Financial terms of the deal were not disclosed.
This is technology M&A deal number 134 that ChannelE2E has covered so far in 2022.
- See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
- See all ServiceNow partner mergers and acquisitions here.
- See all government IT services M&A deals listed here.
Godspeed Emphasizes Tech Solutions, Cybersecurity for Government Agencies
Savli is the second add-on to Godspeed Capital’s existing portfolio companies — namely, Varen Technologies and Exceptional Software Strategies. The group’s combined focus spans cybersecurity and technology solutions that protect U.S. defense and intelligence community agencies from cyber threats, the private equity firm indicated,
Savli, founded in 1996, is a ServiceNow Elite Partner and solutions provider that offers IT service management (ITSM) implementations, integrations, digital transformation services, consulting, and strategy development. Roughy 20 of the company’s specialized employees hold high level government security clearances, the seller said.
In a prepared statement about the deal, Vishal Desai, founder and president of Savli, said:
“Godspeed Capital is utilizing its deep industry expertise to build a premier platform that will help provide mission-critical cyber and technology solutions to the U.S. Defense and Intelligence Communities. We are proud to join this platform alongside Varen Technologies and ESS, where Godspeed’s strategic playbook and resources will enable us to work alongside other expert providers of government-related technology solutions as we continue to meet the evolving needs of the U.S. Intelligence Community.”
Added Douglas T. Lake, Jr., founder & managing partner of Godspeed Capital:
“We are thrilled to partner with Vishal and the entire Savli team, whose end-to-end ServiceNow Software and Information Technology solutions are essential tools for the U.S. Intelligence Community. Savli’s decades of experience, stellar reputation, and high-level expertise across a wide range of specialized technology services makes the Company an ideal partner for Godspeed as we continue to scale our platform and provide technology and security solutions for the U.S. Intelligence Community for years to come. By combining Savli’s expertise with that of Varen Technologies and ESS, our rapidly growing platform is well-positioned to grow and expand its continuum of innovative services and solutions.”
Godspeed typically invests in mid-market companies that generate roughly $3 million to $30 million in annual EBITDA, the private equity firm indicated.
ServiceNow Partner M&A
Meanwhile, M&A activity in the ServiceNow partner ecosystem remains strong because of two reasons: A fast-growth market coupled with a shortage of skilled experts.
Indeed, ServiceNow has emerged as a preferred IT service management (ITSM) platform for enterprise IT departments — often disrupting BMC and other entrenched software rivals along the way. In the midmarket, Fully Managed has customized ServiceNow for MSPs and customers. And in small business, Splashtop has made some moves that may bolster the ITSM platform in that market segment.
How fast is the ecosystem growing? Find the latest ServiceNow financial results here.