Accolite Digital, a cloud and digital product engineering services company, has acquired UK-based digital services firm TeamTek Consulting for an undisclosed amount.
This is technology M&A deal number 981 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Accolite Acquires TeamTek
Accolite Digital, founded in 2007, is based in Addison, Texas. The company has 2,299 employees listed on LinkedIn. Accolite’s areas of expertise include customer experience & design, data & AI, cloud engineering & DevOps, digital product engineering, cybersecurity and M&A tech due diligence.
TeamTek Consulting, founded in 2020, is based in London, England. The company has 45 employees listed on LinkedIn. TeamTek’s areas of expertise include Murex, Calypso, Finestra, ORQA, CI/CD, DevOps and nearshore.
TeamTek primarily works with clients within the banking and financial services sector, providing digital services to investment banks, clearinghouses, and asset managers. The acquisition will allow Accolite to extend its offers in capital markets and aid in its expansion goals, according to the company’s founder and CEO Leela Kaza.
This is Accolite’s second acquisition of the year, previously buying Canadian cloud and software development services provider Xerris in February 2022.
Accolite Acquires TeamTek: Management Insight
Leela Kaza, founder and CEO, Accolite, commented:
“We are excited to partner with TeamTek and welcome their team of technology experts to Accolite. Together, we will sharpen our offerings in Capital Markets as we aspire to be the global leader in digital transformation services. TeamTek’s deep domain expertise and proven track record delivering to large Banking and Financial Services clients will further deepen our presence in the EMEA & APAC regions.”
TeamTek’s management team released a joint statement:
“Our identities are aligned. We share with Accolite similar values, drive for excellence, and singular focus on delivering superior customer success. Accolite is a great fit and will reinforce our role as the go-to trusted partner by extending our offerings across cloud and digital engineering services.”
Technology Holdings was the exclusive financial advisor to TeamTek on the transaction.
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