Highmetric, backed by private equity firm Gryphon Investors, has acquired NewRocket. The deal unites two major ServiceNow partners and Inc. 5000 companies that rank among the fastest-growing private businesses in America. Financial terms of the deal were not disclosed
This is technology M&A deal number 572 that ChannelE2E has covered so far in 2021.
- See all technology M&A deals for 2021 and 2020 listed here.
- See all ServiceNow partner mergers and acquisitions listed here.
ServiceNow Partners With Different IT Expertise
NewRocket, based in San Diego, California, specializes in user experience design across service portals, enterprise intranets, and native mobile experiences. The company has 43 employees listed on LinkedIn.
Highmetric, based in Chicago, Illinois, specialists in solutions for customer service, HR, IT Service Management (ITSM), IT operations management, governance, compliance, and risk and security operations.
Highmetric has completed at least 100 ServiceNow projects over the past 12 months, and over 500 projects in the last five years. The company employs over 250 certified ServiceNow consultants.
As part of the deal, NewRocket President and Principal Engineer Nathan Firth shifts to Highmetric as chief creative officer.
Highmetric Acquires NewRocket: Executive Perspectives
In a prepared statement about the deal, Gryphon Managing Director Gabe Stephenson said:
“As the largest pure-play ServiceNow firm in the world, Highmetric has unique capabilities to help customers leverage the power of ServiceNow to optimize digital transformation workflows. We believe the acquisition of NewRocket further strengthens Highmetric’s differentiated market leadership position.”
Added Highmetric CEO Matt Stoyka:
“We are delighted to welcome Nathan and his crew to Highmetric. NewRocket’s broad capabilities in creative design, design thinking, and user empathy are highly complementary to Highmetric’s offerings and will augment our ability to unite workflows and provide seamless integration to customers across web and mobile platforms. This acquisition demonstrates Highmetric’s commitment to rapidly scaling our business to create powerful solutions that drive meaningful business results for our clients.”
Concluded Firth:
“I’m beyond excited to partner with Highmetric for this next chapter in our intergalactic journey. Our mission has always been to deliver extraordinary user experiences on the ServiceNow platform, and now with the additional fuel and crew, we look forward to delivering a broader range of products and services.”
7Mile Advisors served as financial advisors to Highmetric, and Kirkland & Ellis served as legal advisor.
Highmetric's Experience Acquiring ServiceNow Partners
Private equity firm Gryphon Investors has owned Highmetric since May 2018. Around the same time, Highmetric also acquired ServiceNow partners Fishbone Analytics and Iceberg Networks.
By July 2020, Highmetric acquired Vorto, a ServiceNow partner in the United Kingdom focused on financial services customers. Vorto’s intellectual property includes home-grown code quality and patch management software designed for ServiceNow customers.
Highmetric owner Gryphon Investors has extensive experience in and around the IT services provider (ITSP) market. For instance, the private equity firm owns Microsoft Azure cloud consultancy 3Cloud. And 3Cloud, in turn, acquired the consulting arm of Pragmatic Works in September 2020.
