Tequity advised their client Beniva Consulting Group, an Elite ServiceNow Partner, in their acquisition by SoftwareOne. Tequity acted as the exclusive financial advisor to Beniva. Details of the transaction were not disclosed.
Tequity is a leading North American M&A Advisory firm specializing in global Enterprise B2B technology transactions across SaaS, Cloud, and IT Services transactions.
Beniva Consulting Group is a leading provider in ServiceNow, Configuration Management Database (CMDB), IT and Operations Management (ITOM), and Cloud Advisory and Application Services. The strategic acquisition adds deep process automation and service management specialization to SoftwareOne’s existing market-leading IT Asset Management (ITAM) services.
“Tequity was the most competent and connected advisor we had met and worked with. We appreciated their professionalism as a sounding board through the expedited process we ran together and would not hesitate to recommend them to others of similar scale as Beniva” said Leonard Wiens, Founding Partner Beniva.
On the acquisition by SoftwareOne he added "SoftwareOne’s all-in-one cloud application strategy represents the most complete end-to-end vision in the market. We couldn’t be more excited to bring elite ServiceNow and workflow automation delivery to SoftwareOne’s clients across the globe."
"Sometimes these types of transactions have a fast cadence to them when both parties sync quickly and that was certainly the case here. Wilf and I want to thank Len and his team for being able to run the business and still react promptly. One can see a great future for the SoftwareOne / Beniva combination!" said Alex MacKay, President and Wilf Rapp, Managing Partner, Tequity.
Shadi Khoshab, Global Director, ITAM & Software Sourcing Services said, "We’re delighted to welcome Beniva and their team to SoftwareOne. They bring a wealth of ServiceNow knowledge, strong ITOM capabilities and they’re a fantastic cultural fit. We are already recognized as a market leader in ITAM and by adding Beniva to our organization, we will supercharge the way we support our clients, helping them achieve their software and cloud portfolio optimization goals."
With this transaction, Beniva’s team of more than 75 cloud technology experts and its directors will join SoftwareOne and its rapidly growing software and cloud services practice. By helping its clients leverage the ServiceNow platform, Beniva has helped them save millions of dollars. This acquisition strengthens our services portfolio and organizational value proposition. Beniva’s service offering perfectly complements our own Software Sourcing and Portfolio Management services, building on our capabilities in both IT Service Management (ITSM) and IT Operations Management (ITOM). The acquisition significantly expands SoftwareOne’s portfolio of Software & Cloud Services, including application rationalization and portfolio management. This strengthens our high-quality delivery capabilities to serve our enterprise clients globally.
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