TMCnet News
Tequity Inc. Advises Systemware Innovation Corporation on their Strategic Sale to AlithyaMARKHAM, Ontario, April 6, 2017 /PRNewswire/ -- Tequity Inc., a North American M&A advisory firm specializing in strategic Technology M&A transactions, acted as the exclusive financial advisor to Systemware Innovation Corporation (SWI), a Toronto-based information technology and software engineering consulting firm in their acquisition by Alithya, one of Canada's leading strategy and information technology (IT) consulting firms, as part of the company's growth strategy. SWI is a leader in business intelligence and analytic solutions, servicing clients mostly in the Ontario region for over 35 years. This transaction will reinforce Alithya's service offering and enhance its presence within the financial, energy and transportation sectors, in addition to enabling the expansion of its FinTech LAB services to the Ontario market. The acquisition is expected to be immediately accretive to earnings and result in a 17% increase to the current revenue run-rate. In line with its North American growth plan, this transaction will enable Alithya to strengthen its talent pool with the addition of 200 highly qualified consultants and a talented Toronto-based management team who will be dedicated to servicing Ontario-based customers. Additionally, Alithya will access SWI's high-profile clients who will benefit from Alithya's increased capacity and ability to take on major projects across a broader base of industry sectors. "The acquisition is an important step in the execution of our long-term North American strategy and provides a solid base to accelerate our growth outside Quebec. We are therefore very excited to welcome the SWI professionals to our team, which now counts more than 1500 experts. SWI has an impressive reputation with their customers, and we share a similar culture and values, in addition to a commitment to quality and innovation. The transaction is the logical outcome: SWI was looking for a platform to expand the scope of thir operations and we were looking for a high quality, turnkey operation in Ontario," explains Paul Raymond, Alithya's President and Chief Executive Officer. "We are frankly delighted to join forces with one of Canada's fast growing top strategy and information technology consulting firms and significantly strengthen the scope of our combined service offering to our clients. This new critical mass will meet our customers' evolving needs and expectations, while at the same time creating new challenging opportunities for our consultants with an entrepreneurial spirit," adds Nigel Fonseca, Chief Executive Officer of SWI. About SWI About Alithya About Tequity Media contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tequity-inc-advises-systemware-innovation-corporation-on-their-strategic-sale-to-alithya-300435393.html SOURCE Tequity Inc. |