Valtech, backed by private equity firm BC Partners, has acquired Sitecore partner The Berndt Group (TBG), a customer experience agency focused on digital transformations in the healthcare sector. Financial terms of the deal were not disclosed.
This is technology M&A deal number 355 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Valtech Acquires TBG: Seller and Buyer Backgrounds
TBG, based in Baltimore, Maryland, has 81 employees listed on LinkedIn. The seller, founded in 1991, has developed websites and digital applications for Penn Medicine, the University of Maryland Medical System and Johns Hopkins, the seller noted.
TBG's areas of expertise include digital strategy, user experience, CMS (content management systems), omnichannel digital marketing, CRM, managed services, search and web operations consulting.
Valtech has more than 4,000 employees across 50-plus offices in 18 countries. The company generated roughly 30% revenue growth in 2021, and has sustained a 17% CAGR (compound annual growth rate) over the last 10 years, according to a mid-2021 statement from Valtech.
Valtech, with a business valuation of about $1.4 billion in 2021, supports such customers as Alcon, AstraZeneca, Novo Nordisk, Philips, and Sanofi.
Valtech Acquires TBG: Executive Perspectives
In a prepared statement about the TBG deal, Valtech CEO Olivier Padiou said:
“I am very happy to be welcoming the TBG team to Valtech. By bringing together TBG’s abilities to create enhanced digital experiences in Healthcare and our CX expertise across multiple verticals, we are able to bring change to an industry in need of transformation. Together we are able to help clients Transform by Doing, and deliver market leading experiences that integrate a patient’s physical and digital healthcare journey, resulting in care that is personalized and patient-centric."
Added The Berndt Group CEO John Berndt:
“We are thrilled to join Valtech. We have spent the last 30 years developing unmatched digital development and delivery expertise, carefully recruiting the best professionals, and creating an excellent and consistent collaborative corporate culture.. Joining Valtech allows us to expand our service offerings for clients, and our team will join a like-minded organization with an exemplary culture inherently focused on delivering quality. We are very excited by this opportunity to raise the bar on digital health transformation consulting and services globally.”
Valtech: Multiple Digital Transformation Acquisitions
The buyer has extensive M&A experience. Key Valtech acquisitions include:
- March 2022: B2B digital consultancy Evident.
- February 2022: Wings IT, a Salesforce partner that supports Latin America (LATAM) region customers.
- January 2022: Absolunet, a professional services firm specializing in commerce and digital transformations across such applications as Adobe, Salesforce, Optimizely, SAP and VTEX.
