Mphasis Corporation Acquires New York-Based Silverline for $132 Million

Mphasis Corporation, a subsidiary of India's Mphasis Ltd, has purchased Sonnick Partners LLC, also known as Silverline, for $132 million, expanding its reach into the Salesforce service space.

This is technology M&A deal number 283 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.

Mphasis Corporation, founded in 1998, is based in Bangalore, India. The company has over 41,000 employees listed on LinkedIn. Mphasis’ areas of expertise include Application Services, BPO, Solutions, Healthcare, Finance and banking; High Tech; CI & R, Digital, Cloud, Cognitive, Applied Technology, and IT Services and Solutions.

Silverline, founded in 2009, is based in New York City. The company has over 500 employees listed on LinkedIn. Silverline’s areas of expertise include Salesforce.com, Force.com, Application Development, Consulting, Customer Relationship Management, Financial Consulting, Healthcare Consulting, Enterprise Cloud Computing, Cloud Management, Change Enablement, Marketing Automation, Application Development, UI/UX Design, Cloud Consulting Services, SaaS, Salesforce Consulting, Sales Cloud, Marketing Cloud, Business Transformation, Analytics & Optimization, and Change Enablement.

Strategic Move to Boost Digital Transformation Services

The acquisition is poised to bolster Mphasis’ standing as a comprehensive Salesforce enterprise cloud solutions and services provider. The company’s aim is to present clients with robust capabilities that align with a cloud-first digital transformation strategy.

Since its founding in 2009, Silverline has expanded its footprint beyond North America to Central America and India. Financial records indicate a steady growth in turnover over the past three years, showcasing figures of $54.5 million, $60.8 million, and $75.8 million.

Mphasis Acquires Silverline: Voices from Leadership

Nitin Rakesh, CEO, Mphasis, commented:

“We are excited to have team Silverline join the Mphasis family and look forward to achieving great success together. Silverline’s deep Salesforce expertise and scale, combined with our execution muscle and reach, will not only assist us in designing next-generation digital capabilities but will also help establish us as a dominant player in the Salesforce ecosystem.”

Rakesh added:

“The acquisition will complement our key strategic initiative of driving the intersection across customer experience (CX) transformation, contact center modernization and conversational AI-enabled automation, thus enabling tech transformation to meet the evolving and dynamic needs of our clients.”