MSP M&A: CTG Acquires Digital Transformation Consultancy Eleviant
Global IT services provider CTG has acquired digital transformation firm Eleviant Tech for an undisclosed sum.
This is technology M&A deal number 869 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.
CTG Acquires Digital Transformation Consultancy Eleviant
CTG, founded in 1966, is based in Amherst, New York. The company has 3,644 employees listed on LinkedIn. CTG’s areas of expertise include IT consulting, healthcare solutions and life sciences, staffing services and vendor management and software development and integration.
Eleviant Tech, founded in 2004, is based in Richardson, Texas. The company has 400 employees listed on LinkedIn. Eleviant’s areas of expertise include robotic process automation, artificial intelligence, enterprise app development, strategy and consulting, digital transformation, cloud consulting and migration, SharePoint migration, SharePoint development, web development and content management systems.
The deal strengthens CTG’s digital offerings in areas including AI, machine learning, and intelligent automation while expanding its capabilities in cloud migration, mobile application development and emerging technologies, according to the company.
By leveraging Eleviant’s PeopleOne intranet solution, vChat, vBots and other platforms, CTG says it will be able to expand its software-as-a-service (SaaS) offerings. The deal also increases CTG’s Global Delivery Center capacity, agility and flexibility by adding Eleviant’s offshore teams in Chennai and Coimbatore, India, the company said.
CTG will add approximately $10 million in annualized revenue through the acquisition, which it says it expects to be immediately accretive to operating results. CTG previously acquired Tech-IT, an IT solutions provider and integrator, for $10.3 million in 2019.
CTG Acquires Eleviant: Executive Insight
Filip Gydé, president and CEO, CTG, commented:
“This agreement was driven, in part, by the strong alignment of our respective visions for accelerating our clients’ digital transformations by leveraging emerging technologies and commitment to delivering meaningful business results. We not only share complementary technical skills, offerings, and industry experience, but similar cultures, approaches, and an unwavering dedication to client success, on every project. Our tight strategic and cultural alignment is expected to accelerate the integration of Eleviant and CTG and our combined ability to deliver new value to both CTG and Eleviant clients.”
Tom Niehaus, executive vice president for CTG Americas, said:
“Our combined Delivery Center teams will offer clients from both organizations increased capacity, agility at scale, continuous innovation, and access to teams with deep industry, technology, and functional experience. Equally important is Eleviant’s expertise in creating best-in-class SaaS platforms, which complement many of CTG’s solutions and services. I’m excited about the opportunities this acquisition affords our combined teams to create and offer new service capabilities and models to our broad set of clients, industries, and geographies.”
Jude Ramayya, founder and CEO, Eleviant, added:
“With strong alignment in core values and culture, we are happy to join hands with CTG, where everything starts with a true partnership mindset for team members and clients alike. We believe this merger will strengthen our mission to help businesses elevate and scale with innovative digital transformation solutions. We look forward to the new opportunities that come with joining CTG, which has a well-earned and long-established reputation for transforming IT, delivering business value, and creating long-standing client relationships.”