Acacia Group portfolio company Highmetric sells ServiceNow Division to Gryphon Investors

Source:-https://www.privateequitywire.co.uk/

Since the Highmetric brand goes with the Gryphon acquisition, the remaining company has rebranded as MajorKey Technologies. Acacia will continue to build MajorKey as a market leader amongst its investments in technology product and services companies delivering cloud-enabled digital transformation for commercial and government clients.

Acacia first acquired The Column Group in May 2019 and completed two bolt-on acquisitions before unifying the company under the Highmetric brand earlier this year. Over that time, the company’s ServiceNow division continued to grow rapidly— consolidating its position as one of the world’s leading ServiceNow Elite Partners. In March, Highmetric was recognized by ServiceNow as the 2021 Americas Customer Workflow Partner of the Year.

“As a result of Highmetric’s exceptional reputation, we received several unsolicited approaches to acquire its ServiceNow practice,” said Acacia Group partner Craig Dawson. “Gryphon demonstrated that they have both the vision and resources to build a truly global ServiceNow business. We wish them every success in their new endeavour.”

Operating as MajorKey Technologies, the remaining business brings together over 420 technical, sales and delivery specialists focused on helping public and private sector clients unlock the benefits of cloud-enabled digital transformation. Their solutions architecture, software development and managed services expertise encompasses a range of capabilities, including Enterprise Service Management, Cloud Operations, Identity and Access Management, and DevSecOps.

The Acacia Group is working with the MajorKey management team on ambitious plans to grow the company’s existing core practices as well as investing in new technologies and capabilities.

The company’s ultimate mission is to enable clients to respond to the needs of their customers as one cohesive, agile unit across their entire enterprise, aligning people with process, and process with technology.

MajorKey is one of Acacia’s focused investments in companies developing and delivering products, professional and managed services to enterprise clients and government agencies, with an emphasis on cloud-enabled digital transformation. Acacia’s other investments include Applied Insight and ID Technologies, both focused on the US federal technology sector and recognised for their award-winning cloud and endpoint security product innovations. Together, these Acacia-backed companies are enabling thousands of government and commercial users to collaborate securely in delivering high quality services to their customers and the nation.

Jefferies LLC acted as the exclusive financial advisor, and Miles and Stockbridge PC served as legal counsel to Highmetric on this transaction.