Speridian Technologies acquisition of out-of state firm provides entry to a new market

Following the purchase of an out-of-state consulting firm, Albuquerque’s Speridian Technologies has plans to take on a new market. In a deal that closed at the end of June, Speridian purchased Business Advantage Consulting Inc. out of Gold River, California. The California firm helps businesses use information technology more effectively, rather than implementing or installing it, reported the Sacramento Business Journal. Business Advantage Consulting is now a wholly owned subsidiary of Speridian, according to an announcement on Speridian’s website. Financial terms of the deal were not disclosed. The deal opens up the opportunity for Speridian Technologies to break into the California public sector, which includes many agencies at various levels of government. About 80 percent of BAC’s work is with state and local governments, which potentially allows Speridian an inroad into the market. “It is not just the management consulting, but also the domain expertise,” Speridian CEO Ali Hasan of BAC’s experience in working with the public sector. Business Advantage Consulting’s 45 employees will join Speridian’s global workforce or more than 1,000. Between 60 and 90 people work at Speridian’s Albuquerque headquarters, Hasan said. Speridian plans to eventually double the size of the newly acquired firm through growth in California and Albuquerque, he said. Speridian was founded in 2003. It offers application development, analytics, digital marketing, cloud infrastructure and machine learning development, according to its website. Hasan declined to disclose financial information about the company. The acquisition comes almost three years after Speridian merged with Californiabased Xelleration, which helped clients learn how to best use Microsoft software, Business First previously reported. Speridian added Missouri-based Ingenuity Consulting Partners Inc. in 2016 to its group of companies for an undisclosed price. The year before that, it acquired Canadian professional and IT service company Helm Innovations, also for an undisclosed amount. In 2015, Business First named Speridian one of New Mexico’s fastest growing companies. Between 2012 and 2014, the company increased its revenue by 126 percent. Speridian’s revenue hit $31.5 million in its 2016 fiscal year, Business First reported. Collin Krabbe Technology reporter Albuquerque Business First

Source: https://www.bizjournals.com/albuquerque/news/2017/09/19/abq-tech-firm-merges-with-california-based-company.html