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.
In February, British software development company Endava made a significant move, acquiring American IT and consulting services firm GalaxE for $375 million. This acquisition of GalaxE by Endava is poised to amplify Endava's North American footprint, enrich its expertise in the US healthcare market, establish delivery operations in India, and fortify platform capabilities for digital transformation.
In February, the employment background screening and verification SaaS company First Advantage acquired Sterling Check for $1.5 billion, aiming to expand its portfolio and customer base, thereby enhancing its market position and fostering long-term growth.
In Canada, the Calian Group acquired IT infrastructure and cybersecurity services company Decisive Group for $54.4 million. This acquisition fortifies Calian's IT and cybersecurity services for diverse clients, further supporting its global growth initiatives.
Later in December, GlobalLogic, a Hitachi company, acquired Katzion Technology Solutions, an Australian-based IT services provider for businesses in the automotive sector.
