DXC Technology Acquires Tribridge
Financial Information*
- Financial Terms Not Disclosed
Transaction Facts
- DXC Technology (NYSE:DXC) announced today that it has acquired Tribridge, one of the largest independent Microsoft Dynamics 365 integrators, along with Concerto Cloud Services, Tribridge’s affiliate company. The acquisition is effective immediately.
- Tribridge will be known as Tribridge: A DXC Technology Company, while its affiliate company will be known as DXC Concerto.
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- High-Profile M&A: In April, CSC and the Enterprise Services business of HPE merged to form DXC Technology — the company has 6,000 clients and 170,000 employees around the world with annual sales of around $26B. As part of its strategy to remain competitive in high-value services, DXC has been concentrating on making investments in companies centered around the full Microsoft business solutions stack; in November, CSC made a minority investmentin eBECS Ltd. (martinwolf advised CSC on the transaction). As competition is heightening, rivals have been busy looking to M&A for specialized advantages — Accenture acquired Cambridge-based mobile design and development company Intrepid in June, while Cognizant acquired Japan-based intelligent products company Brilliant Service Co. Ltd in March.
- Broadened Businesses: The Tribridge acquisition will both strengthen the DXC Eclipse business in the Americas and diversify its offerings in the healthcare, state and local government, consumer packaged goods and professional service industries. Tribridge targets the mid-market, and its various enterprise customers software, services and cloud solutions will add greater value to the current Eclipse offerings.
- Maintaining its Place: The main advantage will be seen across the Microsoft Dynamics space — DXC is the number one global systems integrator for Microsoft Dynamics. Before it was renamed following the April merger, UXC Eclipse was named 2016 Microsoft Dynamics Reseller of the Year in Asia Pacific and was also recognized as a finalist for the 2016 Microsoft ERP Partner of the Year Award. Tribridge also has a strong reputation — the company was recognized as the Microsoft Dynamics Worldwide and U.S. Partner of the Year six times, largely due to excellent leadership; Tribridge chairman and CEO Tony DiBenedetto is considered one of the most visionary Microsoft thought leaders in the world.
- Icing on the Cake: While its strengths in the Microsoft Dynamics field is most appealing, Tribridge will bring additional value.Tribridge launched Concerto Cloud Services in 2014 as a separate business to offer premium IaaS solutions, and the fully managed cloud provider could help develop DXC’s technologies. In addition to selling proprietary software on the Microsoft Dynamics CRM platform, Tribridge also has strategic relationships with Cornerstone OnDemand and Oracle NetSuite.
For more information about this transaction, click here to read the press release.
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