Computer Design & Integration (CDI), backed by private equity firm One Equity Partners, has acquired P5 Solutions, a ServiceNow partner that specializes in IT service management (ITSM), HR Service Delivery, Customer Service Management (CSM) and custom application development. Financial terms were not disclosed.
This is M&A deal number 381 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Moreover, it is the latest in a rapidly growing list of ServiceNow partner mergers and acquisitions. CDI itself has been an active buyer. Ahead of the P5 deal, CDI acquired Plan B Technologies (PBT) in July 2020.
CDI, founded in 1995, is headquartered in New York City, and has office locations in Teterboro, N.J., Atlanta, Annapolis, Philadelphia and Boston. The company also has developers in Hyderabad, India.
CDI Acquires P5 Solutions: Executive Perspectives
In a prepared statement about the deal, Vince Collado, executive VP of digital transformation strategy, CDI, said:
“The demand for holistic and seamless digital experiences is at an all-time high. This investment positions us to better serve our growing client base and continue offering high-quality intelligent and automated user experiences across the ServiceNow platform. We are excited to have P5 join the CDI family and look forward to accelerating our combined growth for the benefit of all of our clients.”
Nemisha Patel, president and co-founder, P5, added:
“We could not be more eager to join an industry leader like CDI. Along with being a trusted ServiceNow partner, CDI is also a nationally recognized solutions provider with a proven track record of success in delivering many other technologies. This breadth of experience truly allows CDI to be the ideal partner to help clients take advantage of their technology investments. The values of our two companies align perfectly. Our quality of service and ability to drive transformative business outcomes to our clients will now reach an even greater level. It is incredible to think about the new opportunities for success and growth that will now be available to our clients and employees.”
ServiceNow Paris Release: New Partner Features
Meanwhile, ServiceNow continues to enhance its digital workflow automation platform for partners and customers. The latest release, called Paris, features business continuity, hardware asset and telecommunications service management features.
The new release and associated partner initiatives are designed to enable a broader, partner-focused go-to-market strategy to scale ServiceNow revenue to $10 billion and beyond, the company says.