IT Services companies valuations rebounded steadily through October 2022 as earnings came in better than expected. Cherry Tree & Associates has been actively monitoring trends and activity in the Information Technology Services space for more than 10 years. Along with monitoring the large, public players in the space through our public company index (IT Services 60), Cherry Tree closely tracks middle-market M&A trends that directly impact middle-market owners, operators, buyers and sellers. |
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The five sectors within the ITS 60 are:
- IT Solutions (Integration & Transformation)
- IT Consulting
- Outsourced & Managed IT Services
- Staffing
- Value-Added Tech Resellers
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Each issue of this newsletter highlights transactions involving Information Technology Services companies, as well as performance metrics for the ITS 60. |
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Notable Transactions – October 2022 |
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Chrein Acquired by Cloud Equity Group
Chrein, a New York-based web development firm focused on designing and building websites for its small- and medium-sized business clients, has been acquired by Cloud Equity Group.
Read more
www.yahoo.com
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ingenium Acquired by Mitchell Martin
ingenium, a New York City-based staffing firm that specializes in placing technical and product talent at emerging technology companies and startups, has been acquired by Mitchell Martin Inc., one of the largest staffing firms in the US.
Read more
www2.staffingindustry.com
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Bit Quill Technologies Acquired by Improving Holdings
Digital services company Improving, backed by private equity firm Trinity Hunt Partners, has acquired Bit Quill Technologies for an undisclosed amount.
Read more
www.channele2e.com
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Macronet Acquired by E78 Partners
Macronet, a value-added services distributor and IT and telecom consulting firm, has been acquired by E78 Partners, a leading provider of finance, accounting and technology solutions for middle-market businesses and financial sponsors.
Read more
www.benzinga.com
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Premier International Acquired by Renovus Capital Partners
Premier International Enterprises, which specializes in helping global corporations consolidate the business operations and ERP systems of acquired companies, has been acquired by Renovus Capital Partners.
Read more
www.consulting.us
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Aspirent Acquired by NTT Data
Aspirent, a data, analytics and advisory firm that provides consulting services in data strategy, technology roadmapping, technology due diligence, and data engineering and warehousing, among other offerings, has been acquired by NTT Data.
Read more
www.consulting.us
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CyberWire and CyberVista Merge
CyberWire, a leading B2B cybersecurity audio network, and CyberVista, an industry leader in data-driven cybersecurity training, have merged to form a new parent company, N2K Networks, the world’s first “news to knowledge” network.
Read more
thecyberwire.com
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Edammo Acquired by Verseon
Edammo, which provides businesses and individuals with real-time predictive analytics and practical applications of artificial intelligence, has been acquired by Verseon International Corporation, a clinical-stage pharmaceutical company.
Read more
www.pharmalive.com
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Syrinx Consulting Acquired by DeWinter Group
Syrinx Consulting, a greater Boston-based high-end software development and technology staffing solutions provider, has been acquired by DeWinter Group, a Silicon Valley-based finance and accounting and technology staffing firm.
Read more
www2.staffingindustry.com
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Amplus Acquired by Knowtion Health
Amplus, a provider of healthcare revenue cycle A/R resolution and technology services which uses machine learning and automation to support accounts receivable for health system revenue cycles, has been acquired by Knowtion Health.
Read more
www.finsmes.com
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SoliSYSTEMS Acquired by NationsBenefits
SoliSYSTEMS, a technology integration vendor providing IT support to state governments and commercial enterprises, has been acquired by NationsBenefits, a provider of supplemental benefits, flex cards, and member solutions for health plans.
Read more
www.yahoo.com
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Iron Vine Security Acquired by ASGN Incorporated
Iron Vine Security, a cybersecurity company that designs, implements, and executes cybersecurity programs for federal customers, has been acquired by ASGN Incorporated, a provider of IT services and solutions.
Read more
www.yahoo.com
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Cherry Tree's "IT Services 60" index is comprised of roughly 60 publicly-traded companies with a collective market capitalization greater than $1.1 Trillion. |
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IT Services 60 - Index Metrics |
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Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Our firm specializes in serving middle market companies and their owners, whether private, public, or divisions of larger corporations.
For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining financing, please contact our team.
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Elmer Baldwin
Senior Executive Director
Phone: 952.253.6001
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Mik Gusenius
Managing Director
Phone: 952.253.6005
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David Wetterstrom
Senior Analyst
Phone: 952.253.6004
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Cherry Tree & Associates
301 Carlson Parkway #103
Minnetonka, MN 55305
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Prepared by David Wetterstrom |
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Important Disclosures
The information included in this publication has been obtained from public sources and is not based upon private or confidential Cherry Tree information. Cherry Tree gathers its data from sources it considers reliable. However, it does not guarantee the accuracy or completeness of the information provided within this publication. Any opinions presented reflect the current judgment of the authors and are subject to change. Cherry Tree makes no warranties, expressed or implied, regarding the accuracy of this information or any opinions expressed by the authors. Officers, directors, partners of Cherry Tree and Cherry Tree proprietary investment funds may have positions in the securities of the companies discussed, and certain affiliates of Cherry Tree may recommend to specific clients the purchase and sale of securities discussed in the publication. This publication does not constitute a recommendation with respect to the securities of any company discussed herein, and it should not be construed as such. Cherry Tree or its affiliates may from time to time provide investment banking or related services to these companies. Like all Cherry Tree employees, the authors of this publication receive compensation that is affected by overall firm profitability. We undertake no obligation to update any information in this publication.
The ITS 60 Performance Index is a hypothetical index, and does not reflect an actual investment portfolio. Comparisons between the ITS 60 Index and other indices are for illustrative purposes only. Correlations in performance information for the ITS 60 Performance Index and other indices should not be relied upon as indicative of risks involved in owning or holding a portfolio of securities similar to the ITS 60 Performance Services Index. Past performance should not be relied upon as indicative of future performance.
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