Charlotte, NC; July 11, 2007 - DecisionPoint International, a boutique investment bank providing merger and acquisition services to middle-market services and technology clients, announced today that its client, MyITgroup, the largest privately-held pure play US-based consulting firm solely focused on delivering SAP solutions, has been acquired by Visionary Integration Professionals ("VIP"), a national information technology solution provider. With this acquisition, VIP will expand solutions to include its first international location in Bangalore, India.
"The SAP space has seen tremendous consolidation in the past three years. Given SAP is what we live and breathe, we have watched other transactions closely to make sure we learn from the mistakes of others," said David Perroni, Managing Director of MyITgroup. We committed to only sell MyITgroup if we were confident that our core values and our focus on taking good care of our clients and staff was already engrained in the new organization."
Founded in 2000, MyITgroup captured an under-served market with staff totaling 400 and 2006 revenues at $62 million. The company is headquartered in Houston, Texas with offshore operations in Bangalore India. "With all acquisitions, we consider three elements: cultural fit, market demand, and potential synergies post-acquisition. MyITgroup was a perfect match for all three from the day I met them," said Jonna Ward, CEO of VIP. "The synergy gained is powerful. VIP will not only offer new SAP solutions for its clients, but will also bring a new blended on-shore, off-shore delivery capability to the full breadth of our other solution offerings."
"We understand that our success is a direct result of how happy we keep our clients, partners and employees," said Zane Edwards, Managing Director of MyITgroup. "Enabling our employees to provide repeatable, high quality solutions for our customers and partners is a fundamental value shared by both VIP and MyITgroup. This acquisition reinforces our commitment to the SAP market and enables us to continue delivering the world-class solutions that our customers and partners have come to know and trust with even greater effectiveness and efficiency. We are excited about joining forces with VIP."
Established in 2000, MyITgroup is a global consulting firm solely focused on delivering SAP solutions. MyITgroup maximizes its clients' return on investment by establishing dedicated practices focused on all aspects of SAP, including business intelligence, portal implementations, upgrades and a variety of other sub-specialties. With a focus on strategy, people, process, solutions, and support, MyITgroup delivers value through three primary delivery methods: solutions, outsourcing, and workforce. For seven years, MyITgroup has partnered with more than 500 SAP clients to deliver quality solutions that span a variety of industries. MyITgroup maintains its headquarters in Houston, Texas with clients supported nationwide and with a foreign subsidiary headquartered in Bangalore, India. For more information, visit www.myitgroup.com.
Established in 1996, Visionary Integration Professionals (VIP) is a global information technology solution provider. VIP's unwavering commitment to understand the business needs and goals of its customers allows the company to partner with clients to increase business performance, mitigate risk and resolve challenges. The VIP family of solutions includes business intelligence and data integration, human capital management, technology integration and operations, quality management, and management consulting. For more than 11 years, VIP has delivered quality solutions nationwide to more than 400 clients that include various industries in the commercial sector as well as federal, state and local government. VIP maintains its headquarters in Folsom, California. With 400 staff, VIP was among the Top 100 Fastest Growing Companies in the U.S. as published by INC Magazine and was named the Best Place to Work in Sacramento. For more information, visit www.vipconsulting.com.
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Doug Ellis, Managing Partner; (704) 916-9070; DEllis@DecisionPointINT.com.