Valiantys To Acquire Addteq, Inc.'s Consulting Business to Deepen Atlassian Services and Capabilities in North America
Acquisition of Atlassian Platinum Expert will support continued growth, enable expansion of services and bolster Valiantys' talent base.
PARIS and BOSTON, Nov. 3, 2022 /PRNewswire/ -- Valiantys, a leading global Atlassian consulting and services firm, today announced it has signed a definitive agreement to acquire the Atlassian services division of Addteq, Inc. ("Addteq"). This acquisition will be made possible by the investment and operational support of Keensight Capital, one of the leading private equity managers dedicated to international Growth Buyout1 investments, and Valiantys' majority shareholder since June 2022.
Headquartered in Princeton, New Jersey, Addteq has two main divisions: an Atlassian Platinum Solution partner business, offering a range of services for Atlassian's enterprise customers, and an Atlassian Marketplace business, creating apps and extensions to Atlassian's products. Addteq has decided to focus its efforts on its Marketplace business, and as such it was natural for the services team to join forces with Valiantys.
"This strategic acquisition will deepen Valiantys' services capabilities, strengthen its coverage of the financial services and healthcare sectors, and reinforce its coverage of the US East coast region," said Lucas Dussurget, Global CEO at Valiantys.
"DevOps is critical to businesses which need to shorten the software development cycles, deliver innovation faster, and reduce deployment failures. As an Atlassian Platinum Partner, Addteq has an impressive track record in deployments and Managed Services of Atlassian solutions. We are thrilled to welcome them to the Valiantys team," said Emmanuel Benoit, North America CEO at Valiantys.
Both Valiantys and Addteq have deep relationships with Atlassian and its ecosystem. Valiantys has been a dedicated Atlassian partner since its founding in 2006 and has been recognized as an Atlassian Partner of the Year in six of the last seven years. Addteq has been named one of Atlassian's Platinum Experts.
"Divesting our consulting services and transitioning it to Valiantys allows our team to focus 100% of our efforts as a software company," said Sukhbir Dhillon, President & CEO of Addteq. "Valiantys has built a strong brand in the Atlassian ecosystem, and we have a shared focus on helping customers maximize their Atlassian investment. Our service division's experience across key vertical markets, such as financial services, telecommunications, manufacturing and healthcare, will help Valiantys drive growth and enable our prior Addteq customers to achieve their goals faster."
"We are pleased to have supported Valiantys' team in this strategic acquisition," said Philippe Crochet, Managing Partner at Keensight Capital. "We strongly believe in Valiantys' capacity to grow its pool of talent and global footprint. We will continue to support Valiantys' leadership team in accelerating this trajectory through further international expansion."
1 Growth Buyout: investment in profitable, private companies experiencing strong growth, through minority or majority positions with or without leverage, using a flexible approach tailored to the needs of individual entrepreneurs, in order to finance organic growth projects, acquisition strategies, or provide historic shareholders with liquidity.
Valiantys is a leading global consulting and services firm dedicated to Atlassian. The company accelerates business transformation by digitizing processes and modernizing teamwork, using the best agile methods and tools. Its Atlassian technical expertise is unparalleled and Valiantys supports its customers across the entire spectrum of projects on those platforms. As a recognized Agile at Scale and Cloud Specialized Partner, Valiantys help organizations accelerate time to value with Agile at scale, cloud, and ITSM implementations. Because teamwork requires more than just tools, the firm bridges the gap between applications and strategic practices such as SAFe® and ITIL. Over the last 15 years, Valiantys has helped more than 5,000 customers achieve their desired business outcomes at a reduced time to value, through improved team collaboration. More information about Valiantys can be found at https://valiantys.com/.
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About Addteq
Addteq is a leader in providing business solutions to enterprise clients. Addteq has been in the business for more than 10 years. Through the use of DevOps automation, Addteq strives to create innovative solutions to solve business processes. Clients depend on Addteq to modernize the software delivery process by providing Atlassian solutions, create custom add-ons, conduct training, offer hosting, perform DevOps services, and provide overall support services. More information can be found at https://www.addteq.com/.
About Keensight Capital
Keensight Capital, one of the leading international Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For over 20 years, Keensight Capital's team of seasoned professionals has leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €10 million to €400 million. Drawing on its expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities and works closely with management teams to develop and achieve their strategic vision. Keensight Capital's success has also earned it a Gold Award from the Private Equity Exchange & Awards each year for the last six consecutive years, and in particular, the Best European Growth Private Equity Fund.
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