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.
In September, IBM acquired Oracle-focused IT consulting and systems integration company Accelalpha, enhancing IBM’s Oracle consulting capabilities and accelerating the adoption of Oracle Cloud Applications for its clients.
In July, Gamma Communications acquired BrightCloud Group for $11.6 million at 1.7x revenue, expanding its service offerings in contact center integration and customer experience solutions as a Cisco partner.
In August, KKR acquired Fujisoft, a systems integration services company based in Japan, for $3.8B. The deal was executed at a 2x revenue multiple, further emphasizing the global expansion of IT services firms.
Through September 2024, the IT Services sector witnessed two notable megadeals:
In July, EQT acquired Keywords Studios, a leading provider of outsourced video game testing and quality control services, for $2.6B. The transaction value was based on a 3.2x revenue multiple, marking a significant move in the gaming services space.
In May, BCS acquired engineering and related IT services company Allegient Defense for $8.5M, creating a larger entity focused on energy and defense programs.
In May, Swedish private equity firm EQT acquired IT consulting services company Perficient for $2.7B.
In April, Spanish Testing, Inspection, and Certification services company Applus was purchased by UK-based private equity firms TDR Capital LLP and I Squared Capital Advisors for $1.8B.
In June, Cognizant acquired project management and staffing services company Belcan for $1.3B, enhancing its position in the expansive and rapidly growing ER&D services market.
EPAM acquired the Argentina-based IT services company Vates, aiming to expand its reach in Latin America.
