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Japan’s NRI to Acquire Microsoft, Cisco Partner Core BTS

Japanese research and consulting firm Nomura Research Institute (NRI) will acquire Core BTS, a technology consulting and managed services provider, to expand its footprint into the United States, according to a statement released by the companies. Terms of the deal were not disclosed.

This is technology M&A deal number 757 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.

Japan's NRI Group Acquires Microsoft, Cisco Partner Core BTS

NRI was established in 1965 and provides consulting services and system solutions, including management consulting, systems integration and IT management for the financial, manufacturing, retail and service industries. NRI has more than 13,000 employees in more than 70 offices globally including New YorkLondonTokyoHong KongSingapore and Australia and reports annual sales above $4.9 billion.

Core BTS is a U.S.-based technology consulting and managed service provider that is both a Microsoft and Cisco partner. Core BTS delivers cloud, modern workplace, collaboration, security and networking solutions to clients nationwide.  The acquisition by NRI will give Core BTS long-term financial and strategic backing to continue to deliver its consulting, technical and managed services to a larger worldwide client base and capitalize on the growing demand for digital transformation services in the U.S., according to the statement.

Paul Lidsky, the CEO of Core BTS, will continue to lead Core BTS along with the existing leadership team.

NRI Acquires Core BTS: Executive Commentary

Paul Lidsky, CEO, Core BTS
Paul Lidsky, CEO, Core BTS

Hajime Ueda, senior executive managing director at NRI, commented on the news:

"NRI is committed to providing the highest quality services and insights to earn the continuous trust of our clients. The value that Core BTS' approach, people, and systems bring to their clients makes them an ideal fit for our organization and supports our desire to offer clients the best solutions and services available globally. Core BTS will have a significant voice within NRI and their addition offers immense opportunities for collaboration and growth throughout our Company."

Paul Lidsky, CEO of Core BTS, added:

"e are delighted to join the NRI family and excited about the impact that our greatly expanded scale and capabilities will bring to our clients, partners, and associates. We truly appreciate the unwavering support that Tailwind Capital provided over the past three years. Together with NRI, we remain committed to serving our clients and continuing to execute our growth strategy."

The transaction is expected to close in December 2021 subject to receipt of regulatory approvals and the satisfaction of other customary closing conditions.

Evercore is serving as financial advisor to Core BTS and Davis Polk & Wardwell LLP is serving as legal advisor. Nomura Securities Co., Ltd is serving as financial advisor to NRI and Pillsbury Winthrop Shaw Pittman is serving as legal advisor.