IT Services Acquisitions in 2013

Summit Partners has made a significant minority equity investment in Systems Maintenance Services, Inc. (SMS), joining existing majority shareholder Thomas H. Lee Partners. The investment will support SMS's organic and strategic growth—expanding its multivendor IT asset lifecycle, datacenter and managed services globally—and Summit Partners representatives will join the SMS board.

Perficient, Inc. acquired CoreMatrix Systems LLC, a Salesforce and cloud-computing consulting and managed-services provider. 7 Mile Advisors advised CoreMatrix on the sale; reports indicated the transaction value was approximately $21.5 million. The acquisition expands Perficient’s Salesforce and cloud services capabilities and presence in the enterprise consulting market.

Appirio, a global cloud services provider, acquired Topcoder, the large crowdsourced development and design community, to combine Topcoder's platform with Appirio's CloudSpokes community and accelerate crowdsourced delivery for enterprise customers. The deal brings Topcoder's ~500,000-member community together with CloudSpokes to expand Appirio's capacity in development, design and analytics.

Highstreet IT Solutions completed a majority recapitalization with private equity firms Petra Capital Partners and Transition Capital Partners. The investment is intended to strengthen Highstreet's leadership in cloud-based ERP and cloud services and to support a subsequent add-on acquisition of Enterprise Solutions Group (ESG).

Zensar Technologies has completed its acquisition of US-based IT firm Akibia Inc., rebranding the Infrastructure Management Services (IMS) unit as Zensar Technologies. The deal (originally announced as part of a strategic acquisition) strengthens Zensar’s infrastructure management, network security and consulting capabilities and expands its U.S. delivery footprint.

Systems Maintenance Services Inc. (SMS) has acquired UK-based Exquip Network Services Limited (d/b/a Olympic Support), a provider of IT asset maintenance and lifecycle services. The deal establishes a direct European presence for SMS, expands its client account base and global delivery footprint; SMS is a portfolio company of Thomas H. Lee Partners, L.P.