Syntax Systems, a global technology solutions and services provider for cloud application implementation and management backed by private equity firm Novacap, has acquired Beyond Technologies, based in Montreal, along with its subsidiaries. Financial terms of the deal were not disclosed.
This is technology M&A deal number 273 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Syntax Systems, founded in 1972, is based in Montreal, Quebec. The company has 1,339 employees listed on LinkedIn. Syntax’s areas of expertise include ERP Software and Hardware Implementation, Cloud Hosting & Managed Services, Oracle JD Edwards, iSDM, Security, Consulting Services, Oracle E-Business Suite, SAP, SAP HANA, SAP S/4 HANA, Shared SAP Services, PaaS, IaaS, Private, Public & Hybrid Cloud, Global Service Desk, Application Managed Services, and Cloud Services.
Beyond Technologies, founded in 2005, is also based in Montreal. The company has 420 employees listed on LinkedIn. Beyond’s areas of expertise include SAP Functional Business and Services Consulting, S/4HANA, Business Intelligence & Analytics, Cloud Soutions, SAP Retail, and Application Management Services.
Beyond Technologies is a professional services firm known for SAP solution integration and business performance optimization, operating in Canada, the U.S., France, Morocco, and South Africa.
The deal will result in a consolidated team of approximately 2,800 professionals serving around 900 mid-market and large enterprise clients, the company said. This combined entity plans to operate in 26 locations spread across the Americas, Europe, Africa, and Asia.
Shared Industry Specialization
Both Syntax Systems and Beyond Technologies have a focus on mid-market industry specialization. Their services complement each other, with offerings directed at sectors such as manufacturing and natural resources. Post-merger, their joint portfolio will cater to additional industries, including construction, retail, consumer industries, life sciences, and the public sector.
With the technological needs of mid-market and large businesses growing in complexity, there's a rising demand for expertise in areas like multi-cloud, multi-ERP, and enterprise applications. The merged portfolio of Syntax and Beyond Technologies will encompass a range of cloud services and unique, industry-specific intellectual property.
Syntax previously acquired JD Edwards applications on Amazon Web Services (AWS) and other platforms in 2019.
Stakeholder Responses
Christian Primeau, Global CEO of Syntax, commented:
"The collaboration between two Québec-based technology companies on a global scale is significant, especially with the support of a Canadian private equity firm based in the same province."
Luc Dubois, partner and CEO of Beyond Technologies, added:
"Syntax has a history of delivering technology solutions spanning 50 years. Their enterprise applications, cloud platforms, and industry focus align with Beyond’s expertise in SAP solution integration and business transformation."
Pascal Tremblay, president and CEO, Managing Partner at Novacap, said:
“Novacap supports Syntax’s acquisition of Beyond Technologies. We see potential for value creation and are dedicated to Syntax’s growth in the technology sector."
Ted Mocarski, Chairman of the Syntax Board of Directors, said:
"This acquisition reflects our confidence in the capabilities of both companies. It will allow us to expand our global reach while maintaining our commitment to delivering quality services to our clients."
The acquisition, anticipated to finalize later this quarter, is contingent upon standard closing conditions, including regulatory approvals. Until completion, Syntax and Beyond Technologies will operate as distinct entities. Transaction details remain undisclosed.
National Bank Financial Inc. acted as the financial advisor to Beyond Technologies for this deal.
