In a deal that unites Oracle and Microsoft partners, Speridian Technologies (Albuquerque, New Mexico) and Xelleration (Irvine, California) are merging. Financial terms were not disclosed.
Speridian Technologies, founded in 2003, is an Oracle Platinum Partner serving the commercial and public sector markets across multiple industries. Areas of IT expertise include CRM, business applications, Web applications development and SaaS business models, the company says.
Xelleration, founded in 2001, is a Microsoft Managed Partner and Cloud Solutions Provider serving customers across the healthcare, manufacturing, financial, retail, and education sectors. Areas of IT expertise include Microsoft Azure, Office 365, SharePoint, Skype for Business, Dynamics CRM, Power BI.
According to AlbuquerqueJournal:
- Speridian has about 1,100 employees across Albuquerque, Oregon, Washington, D.C., Canada, Dubai and India. Speridian's revenues were $31.5 million in 2016, up from $11.2 million in 2010.
- Xelleration employs about 90 people, with about 60 in Irvine, Calif., and the rest at regional offices in Dubai and Pakistan. The company will keep its name.
Speridian has extensive M&A expertise. The company in August 2016 acquired a majority stake in Sesame Software, a Kozhikode-based financial technology solutions provider. At the time of the deal, Sesame has successfully delivered core banking solutions (CBS) to hundreds of customers including co-operative banks with more than 950 branches, the company said.
Speridian in 2015 also acquired Helm Innovations, a Canada based professional services firm that served customers in the public sector, financial services and insurance industries. Helm's enterprise accounts at the time included Royal Bank of Canada, Ontario Public Services, and educational institutions such as Canadian Memorial Chiropractic College and the University of Toronto.
Additional insights from Joe Panettieri.
