Mega Deals

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. 

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 November IT consulting services for businesses and public sector company Guidehouse was acquired by private equity firm Bain Capital for $5.3B.

In August 2023, GTCR acquired the commercial fire and security segment of ADT company for $1.6B.

In March, the Engineering Solutions Business of S&P Global was acquired by KKR for almost $1B. 

Earlier this month SK Shieldus, based in South Korea, was bought by Swedish PE firm EQT for $1.5B at 1.6 times revenue. 

The largest megadeal this quarter was the acquisition of outsourced customer care and payments BPO services provider from France, Webhelp, by Concentrix Corporation for $4.8B. 

The largest megadeal so far this year was the acquisition of colocation datacenter provider Switch by Digital Bridge for $8.4B at 17.6x revenue.

ManTech International was taken private by Carlyle Group for $3.9B at 1.7x revenue.