M&A List: 21 Financial Services MSP Mergers and Acquisitions
M&A (merger and acquisition) activity across the managed IT services provider (MSP) sector remains strong. Indeed, ChannelE2E has covered more than 1,000 technology business buyouts since 2019, and many of those deals involve MSPs.
Dig a little deeper, and you may notice the MSP M&A deals involve specific vertical markets. Among the most popular M&A areas of focus: MSPs that support financial services sector customers — such as community banks, credit unions, Wall Street firms, and/or private equity firms.
M&A List: MSPs for Financial Services
For those tracking the market, here’s a regularly updated list of M&A deals involving financial services MSPs, IT consulting firms and business management consultants — including the buyers, sellers and investors navigating the market.
17. June 2020: Private equity firm H.I.G. Capital invested in Eze Castle Integration (ECI), the well-known MSP for financial services customers.
16. June 2020: Private equity firm Summit Partners invested $37 million in Appway, a provider of business process automation software in the financial services vertical market.
14. March 2020: Delta Capita Group, a financial services consulting firm and MSP, received a $50 million equity investment from Prytek Holdings and over $100 million of capital for future acquisitions and client transactions.
12. November 2019: Coretelligent acquired SoundView IT Solutions.
11. August 2019: Accenture acquired Parker Fitzgerald, a risk management consulting firm for financial services companies.
9. February 2019: Abacus Group acquired Proactive Technologies, uniting two financial services MSPs that have deep expertise in alternative investment firms such as hedge funds.
8. January 2019: Accenture acquired Orbium, a management consultancy & technology services provider focused in the financial services vertical market.
7. December 2018: Accenture acquired professional services assets from Zafin, a financial services software provider.
6. December 2018: Tata Consultancy Services (TCS) acquired BridgePoint Group, a management consulting firm in the financial services and retirement services vertical.
5. September 2018: Data Systems Technology Solutions acquired Unicom Technologies Inc., a regional IT-provider for banks and credit unions.
4. July 2018: Thrive acquired InfoHedge Technologies, an MSP and private cloud provider focused on financial services and hedge fund organizations.
3. April 2018: Wavestone acquired Xceed Group, a nearly $19 million IT consulting firm that generates adjusted EBITDA margins of 20-plus percent in the financial services vertical.
2. October 2017: Thrive acquired Precision IT, a New York-based MSP with financial services expertise.
1. January 2017: Linedata acquired Gravitas Technology Services. The combined IT service providers support wealth managers & asset managers.
Bonus – What M&A Deal(s) Did We Miss?: Send M&A deal information to Joe@AfterNines.com.