Tequity acted as the exclusive financial advisor to Avaleris Inc., an Ottawa-based firm focused on Microsoft Identity, Security and Cloud services, in their acquisition by PwC Canada.
Canadian organizations continue to accelerate their digital and data transformations using cloud solutions. Cloud transformations, when done sub-optimally, can significantly expose organizations to increasing cyber threats. Cloud however also presents tremendous opportunities to rationalize, modernize and automate cybersecurity capabilities so organizations can innovate with speed and confidence.
On working with Tequity, Ron Mac Donell, President and CEO, Avaleris Inc. said "Tequity provided us with a complete view of the market of potential strategic acquirers. They have the right key contacts and know this space well. Wilf and Diane ran a very efficient process that was concluded in 5 months - from getting ready, to market outreach, meetings, offers, negotiations, and due diligence - and resulted in a lot of interest and multiple offers for our consideration."
“Our team of talented and innovative cybersecurity professionals are thrilled to join the PwC team and take on new challenges and opportunities for growth,” Ron added. “Given the strong alignment of our culture and values, PwC clients will continue to benefit from the innovations and unparalleled capabilities they have come to expect.”
PwC’s cybersecurity practice has grown significantly and is a trusted service provider to many large Canadian organizations from Strategy to Execution, as well as Operations using their Digital Resilience Centre. The skilled team at Avaleris joining PwC’s experienced cybersecurity professionals provides clients with greater access to innovative assets, talent, and capabilities. The acquisition helps PwC build additional depth and breadth to enhance their service offerings required to meet the growing demand in the cybersecurity space.
“PwC is thrilled to welcome the Avaleris team to PwC. Their work has proven to build a strong reputation with clients, as well as a longstanding strategic partnership with Microsoft. The team’s focus on people, delivery excellence and innovation are a great fit with PwC culture and values,” said Saj Nair, Partner & National Technology & Cloud Leader, PwC Canada. “Many of our clients are partnering with Microsoft for their digital and cloud transformations. We aim to help our joint clients to reimagine enterprise cybersecurity and securely accelerate digital and cloud transformation using next-gen capabilities powered by Microsoft solutions.”
The acquisition welcomes over 30 highly experienced cybersecurity professionals to the PwC network.
PwC is fueled by its purpose to build trust in society and solve important problems. In a digital and data-driven world, one way they serve this purpose is through their cybersecurity practice which is focused on building a secure digital society. According to the 2021 PwC Canadian insights of the CEO survey, cybersecurity climbed to the top of the list of extreme threats, followed by the pandemic and other health crises. 87% of Canadian CEOs identified this as a top threat to growth. With an accelerated focus on digitization, there is an increased need to embed cybersecurity and privacy in all digital and data transformations.
About Avaleris
Avaleris Inc. is a recognized leader in helping enterprise and government organizations tackle challenging business problems related to the IT security of user identities and their secure access to networks and information. Avaleris provides value by offering strategic direction, deployment, adoption, and ongoing optimization for the identity, security, and mobility projects of some of Microsoft’s largest clients. The company is recognized for its outstanding technical and domain expertise and focus on achieving client success.
About PwC Canada
At PwC, our purpose is to build trust in society and solve important problems. More than 7,000 partners and staff in offices across the country are committed to delivering quality in assurance, tax, consulting and deals services. PwC Canada is a member of the PwC network of firms with more than 284,000 people in 155 countries. Find out more by visiting us at: www.pwc.com/ca.
PwC refers to the Canadian member firm and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
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