Equiteq sells Houston-based information management consultancy to Infosys
Equiteq, a consulting sector M&A specialist, is pleased to announce the sale of Noah Consulting, LLC to Infosys Ltd. (NYSE: INFY) for an aggregate purchase consideration of $70 million. Equiteq principals acted as the exclusive financial advisor to Noah Consulting, an award-winning information management consultancy catering to the oil and gas industry.
The transaction was announced on October 19, 2015, and is expected to close in the fourth quarter of calendar year 2015, subject to customary closing conditions.
Founded in 2008, Noah Consulting is a provider of advanced information management solutions for the oil and gas industry with offices in Houston, TX and Calgary, AB. Noah’s deep domain expertise in upstream oil and gas, coupled with their tools, solution accelerators and proprietary methodologies, makes them a leader in driving strategic data management engagements.
This acquisition combines Noah’s deep industry knowledge, information strategy planning, data governance and architecture capabilities with Infosys’ ability to provide technology and outsourcing services on a global scale to oil and gas clients.
John Ruddy, President of Noah Consulting said,
“We are excited about the new capabilities that the combination of Noah and Infosys will bring to our clients. Together, we can effect transformational change for our oil and gas clients by using information management to integrate supply chain, safety, environmental and financial data with geoscience, engineering and other operational and technical data – an industry challenge that has never been addressed effectively. We look forward to making a difference together.”
David Jorgenson, Equiteq’s Global Head of M&A, commented,
"Noah is a world-class information management consulting business that has developed differentiated capabilities and excellent client relationships in the energy sector. The company’s focus on disciplined growth has allowed it to expand significantly while still delivering margins above the industry average. The combination of Infosys and Noah will deliver exciting opportunities for their global team and provide their clients access to a broader suite of complementary service offerings. We thoroughly enjoyed working with Noah’s founders, John Ruddy, Shannon Tassin and Stewart Nelson, and congratulate the team on this exciting milestone for the business."
Shannon Tassin, Director and Co-Founder of Noah Consulting, added,
"Equiteq’s appointment was driven by their specialist expertise as an M&A advisor in the consulting space. Their guidance through the process was invaluable as Equiteq demonstrated a strong ability to assess, explain and negotiate on behalf of Noah."
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Certain members of Equiteq Inc. acted in their capacity as registered securities agents with Burch & Company, Inc. in this transaction. Equiteq and Burch are not affiliates.