Wipfli, a US accounting and consulting firm, has acquired Portland, Maine-based consulting firm and Microsoft Dynamics partner Tidestone Solutions. Financial terms of the deal were not released.
This is M&A deal number 193 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Tidestone, founded in 1995, specializes in Microsoft Dynamics software implementations. The firm is a Microsoft ERP Silver Certified Partner. In 2014, Tidestone launched Microsoft Azure-based cloud offering, called YourCloud, to compete with companies operating Microsoft Dynamics GP or in-house hardware servers.
Meanwhile, Wipfli claims to rank among the top 20 accounting and business consulting firms in the United States.
- Ahead of the deal, the company had more than 2,400 associates across 48 offices in the United States, and two offices in India.
- After tucking in Tidestone, the company now has more than 2,600 associates and 50 offices spread across 15 states and India.
Wipfli Acquires Tidestone: Executive Perspectives
In a prepared statement about the deal, Wpifli Managing Partner Kurt Gresens said:
“In today’s marketplace, technology consulting, along with the insights and data provided by exceptional software platforms, are helping to enhance business performance.”
Sandra Wyman, Tidestone Solutions president and CEO, added:
“We are excited to join forces with Wipfli so our clients can benefit from the broader capabilities we can provide them to serve their growing needs, including Wipfli’s suite of industry-specific software products, and their ability to help us grow the YourCloud practice. For our employees, being part of a national consulting firm will allow their talents to be broadened through the variety of projects and the career development opportunities.”
Accounting Firms Acquiring IT Providers
Wipfli is among a growing list of accounting firms pursuing M&A activity within the IT space.
Many of these firms are looking to expand beyond their traditional financial services in order to provide additional technology consulting, risk mitigation, cybersecurity, and managed IT services to their clients.
ChannelE2E has a comprehensive list of accounting firms acquiring IT services and technology consulting firms here.
