Alithya acquires US Oracle cloud consulting firm Travercent
Alithya, a Montreal-headquartered digital strategy and transformation consultancy, has acquired Travercent LLC, a Dallas-based technology firm focusing on Oracle cloud implementations for healthcare sector clients.
Travercent helps healthcare sector clients integrate and manage Oracle Cloud solutions across enterprise resource planning, human capital management, enterprise performance management, and analytics. The company services clients in the life sciences, medical devices, healthcare services, professional services, and hospitality industries.
The consulting firm has offices in Dallas, Boston, Nashville, Tampa, and San Francisco.
Alithya’s acquisition of Travercent enhances its healthcare cloud consulting capabilities, while expanding its footprint in the US. The Montreal-based firm gained 400 employees in the US with its November 2018 acquisition of Wakefield, Massachusetts–based business and tech consultancy Edgewater. Following the acquisition, the firm went public on the Nasdaq and TSX.
"I am very proud to announce the addition of Travercent to Alithya," said Paul Raymond, president and CEO of Alithya. "The firm's expertise with Oracle cloud technologies in the US healthcare sector is of particular strategic significance to us, given the importance of this technology and this business sector within our long-term business strategy.
“In Travercent, we found a very strong team with a solid reputation and a similar culture, along with an impressive track-record of successful implementations for prestigious customers. Their high degree of specialization is also very complementary to our existing practices."
Alithya delivers consulting services in business strategy, application services, enterprise solutions, and data and analytics to clients across a range of sectors – including healthcare, financial services, manufacturing, energy, and government. Founded in 1992, the firm has more than 2,000 employees across 15 offices in Canada, the US, and France.
The purchase consideration was approximately $23.7 million in cash and Class A subordinate voting shares of Alithya. Travercent was advised on the transaction by tech-focused merchant banking group Innovation Advisors.
"We are very pleased to be joining forces with Alithya," said Mike Feldman, cofounder and managing member of Travercent. "Travercent began as a vision to build a firm that would stand out in the healthcare field, leveraging Oracle technologies. Our strong growth experienced over the past few years shows that our unique approach, expertise, and past implementation performance are proving highly appealing to customers."
