In March, Agilitas Private Equity acquired TietoEVRY’s Tech Services unit for $248.8 million. The carve-out creates a strong Nordic IT services platform focused on AI, cloud infrastructure and security.
Proact IT Group boosted its Azure consulting capabilities with the $20.7 million acquisition of UK-based BlakYaks at a 2.9x sales multiple. The deal supports Proact’s European growth strategy in cloud automation and DevOps.
In January, H.I.G. Capital acquired Quisitive for $117 million at a 1.2x revenue multiple. Quisitive provides Microsoft-focused cloud, AI, and cybersecurity services, making it an attractive platform investment in enterprise digital transformation.
In February, Mainline Information Systems acquired IT servics provider Converge Technology Solutions for $793 million, expanding its U.S. presence and enhancing its cloud, AI and cybersecurity services.
In March, nVent Electric acquired the electrical products group business of Avail Infrastructure Solutions for $975 million at a 2.6x revenue multiple. The business manufactures custom electrical systems—including enclosures, switchgear and bus systems—for utilities, datacenters, OEMs, and EPCs across North America. The acquisition enhances nVent’s industrial electrification and infrastructure capabilities.
In November, Iron Mountain expanded its capabilities in IT asset disposition and data lifecycle management by acquiring Wisetek Solutions for nearly $51 million. Wisetek specializes in IT audit services, data destruction, recycling and global remarketing, providing businesses with sustainable IT solutions. This acquisition aligns with Iron Mountain's focus on environmental responsibility and bolsters its position in the global records and disaster recovery services market.
EPAM Systems strengthened its consulting and digital transformation capabilities by acquiring First Derivative for $301 million at a 1.4x revenue multiple. First Derivative provides IT engineering, cybersecurity, financial crime consulting and system implementation services for the capital markets industry. This acquisition reinforces EPAM’s global footprint and its expertise in high-demand areas such as systems integration and application engineering.
In October, Xerox Holdings made a strategic move by acquiring ITsavvy for $400 million. ITsavvy, a US-based value-added reseller, specializes in IT hardware, software, managed IT and security services, network integration and professional services. This acquisition aligns with Xerox’s ongoing transformation into a leader in digital imaging systems and IT solutions, enhancing its service portfolio to better address enterprise needs.
In October, cybersecurity leader Sophos acquired SecureWorks for $866 million at a 2.4x revenue multiple. SecureWorks provides managed threat detection, endpoint and network security and consulting services, catering to industries such as finance, education and government. This deal underscores the growing demand for robust cybersecurity solutions.
In December, World Wide Technology acquired Softchoice Corporation for just over $1 billion at a 1.6x revenue multiple. Softchoice, a provider of IT and cloud services, specializes in software asset management, cloud migration, systems integration and AI consulting. This acquisition strengthens World Wide Technology's position in IT and digital transformation services.
