EMS Consulting, an enterprise technology solutions company from Tampa, Florida, has acquired Digital Banking Services (DBS DX) a digital transformation services partner for banking and credit unions. Both companies have Salesforce cloud consulting and migration services expertise. Terms of the deal were not disclosed.
This is M&A deal number 171 that ChannelE2E has covered so far in 2020. The pace of deals has slowed a bit since the coronavirus pandemic emerged, but overall deal volume remains reasonable steady. See the complete M&A deal list here.
EMS is a Salesforce Gold Partner. The company has more than 100 consultants with expertise in Financial Services, Health Care, Retail, and Higher Education Industries. It’s also a certified Salesforce and MuleSoft Partner since 2012.
DBS’ financial services expertise is spread across a variety of financial services segments including mortgage, commercial, consumer, and insurance for both banks and credit unions.
EMS Acquires DBS: Executive Perspectives
Elaine Myrback, CEO, EMS, commented:
“We’ve reached a tipping point where our FINS customers are asking for comprehensive, out of the box solutions built on the Salesforce platform that can be easily deployed for rapid adoption to enhance the customer experience and achieve significant business results more quickly. I look forward to welcoming the talented professionals of DBS to the EMS team.”
Lisa Nicholas, DBS DX chief executive officer, said:
“We are thrilled to be joining forces with EMS. The combination of our capabilities and experience with EMS’s scale, broad industry expertise, and global cloud application capabilities represents a unique and compelling opportunity for our customers, for our people and the future of cloud technology.”
M&A deals in the Salesforce cloud partner ecosystem are quite common.
MSP Financial Services Plays
There has been a fair amount of activity within the financial services vertical for MSPs, both with respect to M&A plays and funding activity. Stories that ChannelE2E has tracked include:
- 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.
- November 2019: PE-backed MSP Coretelligent acquired managed IT services provider SoundView IT Solutions.
- July 2019: Thrive acquired Tier1Net. Thrive is backed by M/C Partners.
- February 2019: Abacus Group acquired Proactive Technologies. Abacus is backed by WestView Capital Partners, a Boston-based private equity firm.
- June 2018: H.I.G. Capital invested in Eze Castle in June 2018. At the time, Eze Castle claimed to have more than 650 alternative investment and financial sector customers around the world.