M&A Deal Creates $130 Million Annual Revenue Financial Services MSP
Delta Capita, a division of Prytek, has acquired JDX Consulting to further strengthen its capital markets consulting and managed IT services provider (MSP) capabilities. Financial terms of the deal were not disclosed.
This is technology M&A deal number 27 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
Delta Capita Acquires JDX Consulting: Business Focus Areas
Delta Capita, the financial services division of Prytek, evangelizes a ‘one bank’ infrastructure platform to its clientele. By contrast, JDX is a UK-based financial services MSP with footprints in the United States and Asia Pacific markets. The combined business, backed by 1,100 staff members, will generate $130 million in annual revenue.
Delta Capita’s IT services for financial services firms address digital transformation, data analytics, regulatory innovation and RegTech, structured products and derivatives, Klarion customer experience, cyber crime prevention, and client lifecycle management.
This is Delta Capita’s third acquisition in the last 15 months. The earlier deals involved acquiring:
- April 2021: International Compliance Partners (ICP), a financial services technology provider in the Benelux.
- October 2020: Voogt Pijl & Partners, another technology solutions provider in the Benelux financial services market.
Delta Capita Buys JDX Consulting: Executive Perspectives
In a prepared statement about the deal, JDX CEO Jonathan Davies said:
“I am delighted by the combination of JDX and Delta Capita and believe the combined firm now has the people, technology and solutions to much better address our clients’ needs. There are also considerable benefits for our staff in being part of what will now be a larger and more diversified organization.”
Delta Capital Group CEO Joe Channer added:
“We continue to listen to our clients and this acquisition allows us to take on globally significant consulting and managed service engagements at scale. Clients are evaluating their operating models to drive efficiency and simplification and require innovative solutions that significantly reduce their costs. We recognise JDX’s expertise in its successful resource augmentation business across Financial Services, and in particular, Capital Markets, and I am delighted that the team joining us will allow Delta Capita to offer an enhanced capability to our clients. I can see that as two organizations combining, we have a great cultural fit and many capabilities that are truly complementary. I expect this combined capability to rapidly accelerate our growth.”
MSP Mergers and Acquisitions in the Financial Services Vertical
Meanwhile, this list shows MSP M&A activity in the financial services vertical remains strong, according to ongoing coverage from ChannelE2E.