Alithya acquires technology consultancy Askida
Digital strategy and technology consultancy Alithya has acquired Askida, a Montreal-based technology consulting firm.
Askida was founded in 1998, and specializes in software quality assurance and application development and modernization. The firm supports multinationals and medium-sized companies with the development of mobile and web applications, the modernization of legacy systems, and the creation of open source software and commercial software packages.
The firm has served a numerous clients in telecom, financial services, energy, and the public sector, including Bell Mobility, Desjardins, Hydro Solution, and Justice Quebec. Askida has more than 110 employees across offices in Montreal and Toronto, and had revenues of $13 million in FY 2019.
"I'm very proud to welcome more than 110 Askida experts to our ranks," Paul Raymond, president and CEO of Alithya, said. “Their expertise in application development is very complementary to that of Alithya, and our corporate cultures are similar. They also bring additional expertise in software quality assurance, which will allow us to develop new markets. Their Askida CT software solution, which automates continuous testing, will be a definite asset that will allow us to better serve our customers."
The purchase consideration for the transaction is $16 million in Class A subordinate voting shares and cash. Alithya expects the acquisition to immediately contribute to its profitability.
Steve Duchesne, president of Askida, said, “In partnering with a firm of Alithya's caliber, today marks a milestone in our history that will allow us to grow at all levels, and to continue to distinguish ourselves through the importance of efficiency, quality, and customer appreciation that we attach to our solutions."
Alithya offers business strategy, application services, enterprise solutions, and data and analytics services. The firm is based in Montreal and has 2,000 employees across Canada, the US, and Europe. Alithya went public in 2018 following the acquisition of US tech consultancy Edgewater Technology.
