Valiantys, backed by private equity firm Keensight Capital, is acquiring the Atlassian services division of Addteq. The buyer gains DevOps and MSP expertise in the Atlassian and IT service management (ITSM) sectors. Financial terms of the deal were not disclosed.
This is technology M&A deal number 988 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Atlassian Partner M&A: About the Seller and Buyer
Addteq, founded in 2006, is based in Princeton, New Jersey. The company has two main divisions: An Atlassian Platinum Solution partner business and an Atlassian Marketplace business that creates apps and extensions. Valiantys is buying the solution partner business, and Addteq will retain the marketplace business.
Valiantys, founded in 2006, is based in Toulouse, Occitanie, France. Areas of expertise include IT service management (ITSM) deployments and JIRA service desk. The company serves 42 of the global Fortune 100. Moreover, Valiantys has been named Atlassian Partner of the Year for five years in a row.
In a prepared statement about the deal, Emmanuel Benoit, North America CEO at Valiantys, said:
"DevOps is critical to businesses which need to shorten the software development cycles, deliver innovation faster, and reduce deployment failures. As an Atlassian Platinum Partner, Addteq has an impressive track record in deployments and Managed Services of Atlassian solutions. We are thrilled to welcome them to the Valiantys team."
Added Sukhbir Dhillon, President & CEO of Addteq:
"Divesting our consulting services and transitioning it to Valiantys allows our team to focus 100% of our efforts as a software company. Valiantys has built a strong brand in the Atlassian ecosystem, and we have a shared focus on helping customers maximize their Atlassian investment. Our service division's experience across key vertical markets, such as financial services, telecommunications, manufacturing and healthcare, will help Valiantys drive growth and enable our prior Addteq customers to achieve their goals faster."
Concluded Philippe Crochet, managing partner at Keensight Capital:
"We are pleased to have supported Valiantys' team in this strategic acquisition. We strongly believe in Valiantys' capacity to grow its pool of talent and global footprint. We will continue to support Valiantys' leadership team in accelerating this trajectory through further international expansion."
Private Equity Backs Atlassian ITSM Software Partner
Keensight Capital has owned Valiantys in April 2022. Ahead of that deal, Valiantys revenues were €98 million (nearly $100 million) in 2021, up 73% from 2020.
