Equiteq facilitates the sale of IT consulting firm, CompriseIT, to BackOffice Associates
Equiteq is delighted to announce that its client CompriseIT, a UK based consulting firm specializing in helping enterprises adopt SAP®’s new Business Suite 4 SAP HANA® (SAP S/4HANA), has been acquired by BackOffice Associates, a worldwide leader of information governance and data modernization solutions. The transaction closed on April 15th, 2016.
“After a series of successful joint customer engagements following our partnership with CompriseIT in the fall of 2015, we recognized that a union between the two organizations was a natural fit for helping customers migrate and realize the most value out of SAP S/4HANA,” said David Booth, president and CEO, BackOffice Associates. “The acquisition of CompriseIT extends BackOffice’s value proposition and competitive positioning as global organizations are increasingly readying themselves for S/4HANA.”
With the integration of both companies nearly complete, CompriseIT’s Co-CEO Owen Pettiford, will take up the role of Senior VP for SAP Digital Transformation. “We are very excited to join the BackOffice Associates family and believe the combination of both organizations will offer the global market an unprecedented breadth of end-to-end SAP S/4HANA delivery knowledge,” said Pettiford. “We had worked with Equiteq in the past while planning the growth in the value of the business so, with their deep-sector expertise, it was obvious to engage them to support us on a transaction with BackOffice once a possible deal was discussed.”
Clive Bellmore, CEO Europe and Africa, adds “From an acquirer’s perspective it is actually a great help if the seller is well advised to ensure they understand the process, and that the challenges that always arise are speedily resolved. Equiteq certainly served their client well in this instance.”
“By focusing on their SAP relationship and being at the leading edge of new technologies Owen and his co-founder Dean Wood have created a business of great value to BackOffice.” explained Bruce Ramsay from Equiteq, who led the transaction “This is the second IT consulting business we have sold to BackOffice, who we see as an exciting business to watch.”
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