XDuce Inc, a global software development, system integration, and staffing services provider from Edison, New Jersey, has acquired a majority stake in SANS Consulting. Financial terms of the deal were not disclosed.
This is M&A deal 293 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
SANS is a New York-based IT staffing services provider with a specialty in banking and financial services.
Founded in 2006, XDuce’s business is heavily focused on Oracle, Salesforce, Microsoft, and Amazon Web Services (AWS). The business has 20 employees and generates US$4.18 million in sales, according to Dun & Bradstreet.
XDuce has been looking to expand its client base within the financial services sector, a vertical market where SANS already has a strong presence, the buyer said.
XDuce Acquires SANS: More Background
SANS has been in the IT staffing and consulting services for 25 years. The company has a particularly strong presence in the New York Metro and Tri-State (New York, New Jersey, Connecticut) areas. Its clients are especially concentrated in the financial services, banking, education, insurance, and healthcare sectors.
SANS has 52 employees and generates $7.13 million in sales, reports Dun & Bradstreet.
With this acquisition, both firms will be able to leverage an expended service delivery capability and domain expertise, according to XDuce.
XDuce Acquires SANS: Executive Perspectives
In a prepared statement about the deal, Jay Dave, president and CEO, XDuce, said:
"With XDuce's expanded global delivery capabilities and SANS's market penetration, the combined synergies will ensure seamless execution of services to our clients. With this acquisition, our clients can now look forward to partnering with a highly professional global support team with a wealth of experience in all major national markets and industry verticals."
Leo Kogan, president of SANS, added:
"With the current challenging situation faced by industries across the globe, this acquisition will help us meet our customers' needs like never before. Our clients require services of a global organization with effective off-shore/on-shore delivery teams and significant resources to service their needs nationally. This acquisition enables us to do just that.”
