In October, cybersecurity leader Sophos acquired SecureWorks for $866 million at a 2.4x revenue multiple. SecureWorks provides managed threat detection, endpoint and network security and consulting services, catering to industries such as finance, education and government. This deal underscores the growing demand for robust cybersecurity solutions.
In December, World Wide Technology acquired Softchoice Corporation for just over $1 billion at a 1.6x revenue multiple. Softchoice, a provider of IT and cloud services, specializes in software asset management, cloud migration, systems integration and AI consulting. This acquisition strengthens World Wide Technology's position in IT and digital transformation services.
In August, KKR acquired Fujisoft, a systems integration services company based in Japan, for $3.8B. The deal was executed at a 2x revenue multiple, further emphasizing the global expansion of IT services firms.
Through September 2024, the IT Services sector witnessed two notable megadeals:
In July, EQT acquired Keywords Studios, a leading provider of outsourced video game testing and quality control services, for $2.6B. The transaction value was based on a 3.2x revenue multiple, marking a significant move in the gaming services space.
In May, Swedish private equity firm EQT acquired IT consulting services company Perficient for $2.7B.
In April, Spanish Testing, Inspection, and Certification services company Applus was purchased by UK-based private equity firms TDR Capital LLP and I Squared Capital Advisors for $1.8B.
In June, Cognizant acquired project management and staffing services company Belcan for $1.3B, enhancing its position in the expansive and rapidly growing ER&D services market.
In February, British software development company Endava made a significant move, acquiring American IT and consulting services firm GalaxE for $375 million. This acquisition of GalaxE by Endava is poised to amplify Endava's North American footprint, enrich its expertise in the US healthcare market, establish delivery operations in India, and fortify platform capabilities for digital transformation.
In February, the employment background screening and verification SaaS company First Advantage acquired Sterling Check for $1.5 billion, aiming to expand its portfolio and customer base, thereby enhancing its market position and fostering long-term growth.
In November IT consulting services for businesses and public sector company Guidehouse was acquired by private equity firm Bain Capital for $5.3B.
