Woodridge, IL, USA — Great White Shark Opening Mouth — Image by © Denis Scott/Corbis
The M&A tsunami hasn’t stopped. Microsoft Dynamics specialist Quantiq has been acquired by global giant Avanade.
CEO and founder Stuart Fenton will exit the London-based firm in mid-November, adding that the decision to sell up to Avanade would allow the company to more quickly realise its “ambitious” goals. Fenton has been behind the desk for more than eight years.
Avanade said combining Quantiq ERP customer experience with its expertise across the Microsoft platform would allow clients to benefit from solutions that will help accelerate digital transformation across all industry sectors, globally.
“This is an enormous market growing at a terrific rate. We had some big ambitions, and it was going to take some years to reach them, so it made enormous sense to join Avanade and instantly get the benefit of their depth of resources, financial strength, and geographic coverage”, Fenton said.
Fenton said that the company faced a choice – take private equity money or be taken over.
A trade sale with Avanade was an easy decision based on the Microsoft partner’s approach to previous acquisitions.
“Avanade did an amazing job when they acquired Altius and how they retained that organisation and what made that organisation great. Their approach for Quantiq, it appears, is going to be pretty much the same.”
Quantiq saw its revenues reach £31.1 million for its year ending 31 December 2020, a 31 percent increase from its 2019 figure, and joins the Accenture-owned business’ team of more than 50,000 professionals across 26 countries.
Avanade UK and Ireland GM Andy Gillett said with Quantiq and its strong reputation as a trusted Microsoft partner, there was an opportunity for Avanade to quickly scale up.
