Digital Transformation M&A: Accolite acquires FinTech Consultancy TeamTek
Accolite Digital, a cloud and digital product development company, has acquired UK digital services firm TeamTek Consulting for an undisclosed sum.
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 and 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 and design, data and AI, cloud engineering and DevOps, digital product development, 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 customers in the banking and finance sector, and delivers digital services to investment banks, clearing houses and asset managers. The acquisition will allow Accolite to expand its offerings in the capital markets and help with its expansion goals, according to company founder and CEO Leela Kaza.
This is Accolite’s second acquisition of the year, having previously acquired Canadian cloud and software development services provider Xerris in February 2022.
Accolite acquires TeamTek: Management Insight
Leela Kaza, Founder and CEO, Accolite
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 capital markets offerings as we seek to be the global leader in digital transformation services. TeamTek’s deep domain expertise and proven track record of delivering to large banking and financial services customers will further deepen our presence in the EMEA and APAC regions.”
TeamTek’s management team issued a joint statement:
“Our identities are aligned. We share with Accolite similar values, drive for excellence and unparalleled focus on delivering superior customer success. Accolite is a great fit and will reinforce our role as the trusted partner by expanding our offerings across cloud services and digital engineering.”
Technology Holdings was the exclusive financial advisor to TeamTek on the transaction.
