Equiteq LLP, the consulting and IT services M&A specialist, is pleased to announce that its client, leading UK SAP consultancy Absoft, has acquired Hexarus Consulting, a specialist provider of SAP business intelligence (BI) and enterprise performance management (EPM) solutions. The acquisition is a response to rapidly growing demand from clients for improved reporting, business planning and forecasting capabilities. The seven-figure deal completed on 29 February 2012, is Absoft´s first acquisition as it pushes forward with a major growth strategy.
Equiteq is retained by Absoft to assist in its acquisitive growth through the identification of strategic opportunities.
Ian Mechie, founder and managing director of Absoft Ltd, said:
"We engaged Equiteq to help with our acquisition plan because of its deep knowledge of the consulting and IT services sector, along with their ability to identify the right kind of targets. It also understands how to put a deal structure together that works for both buyer and seller. Bringing Hexarus into the Absoft fold is a great step ahead for both of our businesses."
Bruce Ramsay, investment director at Equiteq said:
"We are delighted to have assisted Absoft in the expansion of its SAP services. Hexarus is a superb match and it has been a pleasure to play a part in a win-win deal for two great SAP consultancies."
Visit www.equiteq.com to download our Global Consulting M&A Report.
About Equiteq
Equiteq is a strategic advisory and M&A transaction specialist for consulting and IT services firms. It helps owners to create and realise equity value. Equiteq also helps strategic buyers to find and evaluate ideal targets for acquisition.
About Absoft
Absoft is one of the leading independent SAP consultancies in the UK and a specialist in the oil and gas sector, formed in 1991. The company specialises in the oil and gas and higher education sectors. As an SAP Partner and software reseller whose goal is to help businesses get the most from their investment in SAP, Absoft supplies a complete range of services, spanning strategic consultancy, technical and functional implementation services, process improvements, training and support.
