Acquisition Expands CTG’s Global Network of Offshore Delivery Centers and Digital Solutions
CTG (Nasdaq: CTG), a leader in helping companies employ digital IT solutions and services to drive productivity and profitability in the Americas and Western Europe, today announced that it has acquired Eleviant Tech (Eleviant), a privately owned digital transformation company with expertise in mobile, cloud, web, blockchain, robotic process automation (RPA), and artificial intelligence (AI) technologies.
Transaction Highlights
- Strengthens CTG’s digital offerings in areas such as AI, machine learning (ML), and intelligent automation while expanding capabilities in cloud migration, mobile application development, and emerging technologies, including blockchain.
- Expands CTG’s software-as-a-service (SaaS) offerings by leveraging Eleviant’s PeopleOne intranet solution, vChat, vBots, and other platforms.
- Increases Global Delivery Center capacity, agility, and flexibility with the addition of established Eleviant teams in Chennai and Coimbatore, India.
- Adds approximately $10 million in annualized revenue; expected to be immediately accretive to operating results, excluding customary acquisition-related expenses.
Headquartered in Dallas, Texas, Eleviant helps clients in manufacturing, logistics, healthcare, finance, and insurance industries elevate their businesses and provide quality user experiences through a wide range of customizable solutions that support new ways enterprises work, communicate, and scale. Eleviant has honed its strong digital development skills over almost two decades and built a reputation for exceeding expectations, resulting in high client retention.
“This agreement was driven, in part, by the strong alignment of our respective visions for accelerating our clients’ digital transformations by leveraging emerging technologies and commitment to delivering meaningful business results,” said CTG President and Chief Executive Officer, Filip Gydé. “We not only share complementary technical skills, offerings, and industry experience, but similar cultures, approaches, and an unwavering dedication to client success, on every project. Our tight strategic and cultural alignment is expected to accelerate the integration of Eleviant and CTG and our combined ability to deliver new value to both CTG and Eleviant clients.”
“Our combined Delivery Center teams will offer clients from both organizations increased capacity, agility at scale, continuous innovation, and access to teams with deep industry, technology, and functional experience,” said Tom Niehaus, Executive Vice President at CTG Americas. “Equally important is Eleviant’s expertise in creating best-in-class SaaS platforms, which complement many of CTG’s solutions and services. I’m excited about the opportunities this acquisition affords our combined teams to create and offer new service capabilities and models to our broad set of clients, industries, and geographies.”
The combined portfolio of digital transformation solutions will help clients of both companies accelerate their digital strategies. Eleviant’s clients will benefit from CTG’s end-to-end solutions portfolio, digital accelerators, and the Company’s global sales, marketing, delivery, and financial and administrative infrastructure.
CTG’s more than 670 global clients will benefit from immediate Delivery Center scale, increased delivery agility, and the SaaS platforms developed by Eleviant that help address challenges across vital business functions and accelerate their transformation, including:
- PeopleOne: Built on Microsoft Office 365’s SharePoint platform, PeopleOne empowers enterprise-wide communication, collaboration, and connections, driving employee engagement, communication, and improving productivity.
- vChat: Powered by Bluefish.ai, an intelligent chatbot-builder platform, vChat provides custom-built virtual assistants to support daily client, employee, and partner communications.
- vBots: This platform enables business process automation incorporating RPA, workflow, AI/ML, and analytics.
- vReport: An intelligence-driven monitoring and evaluation reporting framework, vReport allows users to manage KPI-driven dashboards that support actionable insights.
- vInspect: This mobile inspection platform is used for improving manufacturing and assembly site inspection management, workflows, quality control, and escalations.
- vSales: A robust and comprehensive solution, vSales enables manufacturers and retailers to digitally engage with their clients at multiple points in the buyer journey, providing rich, compelling user experiences.
“With strong alignment in core values and culture, we are happy to join hands with CTG, where everything starts with a true partnership mindset for team members and clients alike. We believe this merger will strengthen our mission to help businesses elevate and scale with innovative digital transformation solutions,” said Eleviant Founder and CEO, Jude Ramayya. “We look forward to the new opportunities that come with joining CTG, which has a well-earned and long-established reputation for transforming IT, delivering business value, and creating long-standing client relationships.”
About CTG
CTG is a leading provider of digital transformation solutions and services that accelerate clients’ project momentum and achievement of their desired IT and business outcomes. We have earned a reputation as a faster, more reliable, results-driven partner focused on improved data-driven decision making, meaningful business performance improvements, new and enhanced customer experiences, and continuous innovation. CTG operates in the Americas, Western Europe, and India. The Company regularly posts news and other important information at www.ctg.com.
About Eleviant Tech
Eleviant Tech (Eleviant) provides businesses with digital products and services to enhance productivity, engagement, communication, and scale. In addition to its primary services, which include mobile and web application development, cloud migration, and managed IT services, the Company also provides intelligent process automation, and blockchain services.
Originally Posted September 29, 2022
