The Strategic Acquisition of Beniva Adds to the Continued Growth and Expansion Strategy by SoftwareOne in North America
TORONTO, July 10, 2023 — Tequity, a leading North American M&A Advisory firm specializing in global Enterprise B2B SaaS, Cloud, and IT company transactions, acted as the exclusive financial advisor to Beniva Consulting Group Inc., a leader in IT operations management and ServiceNow advisory services in their acquisition by SoftwareOne Holding AG, a leading global provider of end-to-end software and cloud technology solutions.
Beniva Consulting Group is a leading provider in ServiceNow, Configuration Management Database (CMDB), IT and Operations Management (ITOM), and Cloud Advisory and Application Services. The strategic acquisition adds deep process automation and service management specialization to SoftwareOne’s existing market-leading IT Asset Management (ITAM) services.
“Tequity was the most competent and connected advisor we had met and worked with. We appreciated their professionalism as a sounding board through the expedited process we ran together and would not hesitate to recommend them to others of similar scale as Beniva” said Leonard Wiens, Founding Partner Beniva.
On the acquisition by SoftwareOne he added “SoftwareOne’s all-in-one cloud application strategy represents the most complete end-to-end vision in the market. We couldn’t be more excited to bring elite ServiceNow and workflow automation delivery to SoftwareOne’s clients across the globe.”
“Sometimes these types of transactions have a fast cadence to them when both parties sync quickly and that was certainly the case here. Wilf and I want to thank Len and his team for being able to run the business and still react promptly. One can see a great future for the SoftwareOne / Beniva combination!” said Alex MacKay, President and Wilf Rapp, Managing Partner, Tequity.
Shadi Khoshab, Global Director, ITAM & Software Sourcing Services said, “We’re delighted to welcome Beniva and their team to SoftwareOne. They bring a wealth of ServiceNow knowledge, strong ITOM capabilities and they’re a fantastic cultural fit. We are already recognized as a market leader in ITAM and by adding Beniva to our organization, we will supercharge the way we support our clients, helping them achieve their software and cloud portfolio optimization goals.”
With this transaction, Beniva’s team of more than 75 cloud technology experts and its directors will join SoftwareOne and its rapidly growing software and cloud services practice. By helping its clients leverage the ServiceNow platform, Beniva has helped them save millions of dollars. This acquisition strengthens our services portfolio and organizational value proposition. Beniva’s service offering perfectly complements our own Software Sourcing and Portfolio Management services, building on our capabilities in both IT Service Management (ITSM) and IT Operations Management (ITOM). The acquisition significantly expands SoftwareOne’s portfolio of Software & Cloud Services, including application rationalization and portfolio management. This strengthens our high-quality delivery capabilities to serve our enterprise clients globally.
No financial details or transaction terms have been disclosed.
About Beniva Consulting Group
Founded in 2016 and headquartered in Calgary Canada, Beniva is a leading consultancy of professional and managed services, supporting blue-chip enterprise clients in United States and Canada. As an Elite ServiceNow partner, the company specializes in providing end-to-end professional services to clients seeking to leverage ServiceNow, a provider of workflow solutions and preferred vendor of enterprises moving to the cloud. See www.benivagroup.com
About SoftwareOne
SoftwareOne is a leading global software and cloud solutions provider that is redefining how organizations build, buy and manage everything in the cloud. By helping clients to migrate and modernize their workloads and applications – and in parallel, to navigate and optimize the resulting software and cloud changes – SoftwareOne unlocks the value of technology. The company’s ~9,000 employees are driven to deliver a portfolio of 7,500 software brands with sales and delivery capabilities in 90 countries. Headquartered in Switzerland, SoftwareOne is listed on the SIX Swiss Exchange under the ticker symbol SWON. Visit www.softwareone.com
About Tequity
Tequity assists Enterprise B2B SaaS, Cloud, and IT companies with business growth and exit strategies. Our mission is simple: achieve the best outcome for our clients. With decades of combined experience as executives, consultants, and owners of software and technology companies, we leverage our deep industry knowledge across tech ecosystems and our relationships with strategic, growth-focused buyers around the globe to drive successful M&A transactions. Learn more at www.tequityadvisors.com.
Media Contact
Diane Horton
Managing Partner, Tequity Advisors
T: +1 416.993.1734 | [email protected]
SOURCE Tequity Advisors
