Syntax announces its decision to acquire Beyond Technologies, forming a global team of more than 2,800 people
The transaction will expand Syntax's industrial capabilities, SAP® expertise and professional services talent.
MONTRÉAL, Oct. 3, 2023 /PRNewswire/ -- Syntax Systems, a leading global provider of technology solutions and services for the deployment and management of cloud applications, today announced plans to acquire Beyond Technologies, based in Montreal, Canada , and its subsidiaries. Beyond is a professional services company specializing in SAP® (NYSE: SAP) solutions integration and business performance optimization, with operations in Canada, the United States, France, Morocco and South Africa. The combination of Syntax and Beyond will create a team of more than 2,800 experts serving more than 900 medium and large enterprise clients around the world, with 26 offices throughout the Americas, Europe, Africa and Asia.
"Beyond Technologies has a great reputation derived from the excellence of its professional services and mastery of the SAP ecosystem," explains Christian Primeau, global CEO of Syntax. "Beyond Technologies' company culture attracts the best and brightest technology experts, passionate about what they do and motivated to deliver the best results for their customers. One of the guiding principles of all Syntax acquisitions is to prioritize company culture, so we're excited about the customer- and people-centric approach that Syntax and Beyond share, as well as the idea of bringing together the talent and energy of these teams to better serve our customers," says Primeau.
Specialization in the mid-market market is key for both Syntax and Beyond Technologies. Both companies offer complementary solutions for the manufacturing and natural resources sectors, which will strengthen their capabilities in these industries. Its combined portfolio of solutions will also include specialized offerings for the construction, retail, consumer industry and public sector sectors.
"Syntax has been providing comprehensive technology solutions and services for 50 years. Its portfolio of enterprise applications, cloud platforms, technology practices and industry specialization are the ideal complement to Beyond's experience in integrating SAP solutions and business transformation" , says Luc Dubois, partner and CEO of Beyond Technologies. "We are truly excited to join the great team at Syntax, and we are convinced that this union will improve the results we achieve for our clients and allow us to offer them even greater value."
As the technology landscape for the midsize and enterprise market becomes more complex, an increasing number of organizations require expertise across multiple cloud platforms, multiple ERPs, and enterprise applications. In addition to SAP, the combined solution offering from Syntax and Beyond Technologies will include a diversified portfolio of specialized cloud solutions and unique, industry-specific intellectual property.
"Novacap is proud to support Syntax's acquisition of Beyond Technologies, highlighting our confidence in its leadership within the application management and cloud services sector. Syntax's success in expanding its portfolio highlights its potential of value creation. As highly committed partners, we set our goal to drive Syntax's growth on the global technology stage," says Pascal Tremblay, President and CEO, Managing Partner of Novacap.
"This announcement fills us with pride," declares Primeau. "It is a great example of the strength of two Quebec-based technology companies joining forces on the global stage with the backing of a leading Canadian private equity firm, also based in the same Canadian province."
"This step is a clear reflection of our strong confidence in the strengths and capabilities that both companies bring," said Ted Mocarski, Chairman of the Board of Directors of Syntax. "It is a strategic move that allows us to expand our global reach while continuing to offer world-class solutions and services to our customers around the world."
The acquisition, which is expected to be completed by the end of this quarter, is subject to customary closing conditions and regulatory approvals. Until the transaction is completed, Syntax and Beyond Technologies will continue to operate as independent companies. The terms of the transaction will not be made public.
National Bank Financial Inc. has acted as exclusive financial advisor to Beyond Technologies for the transaction.
About SyntaxSyntax offers comprehensive technology solutions and professional, advisory and application management services that power mission-critical enterprise applications in the cloud.
With more than 50 years of experience and more than 800 clients worldwide, Syntax has deep knowledge in the implementation and management of multiple ERP deployments in public, private and secure hybrid environments. Syntax has agreements with SAP, Oracle, JD Edwards, AWS, Microsoft and other major global technology leaders to ensure its customers' applications are seamless, secure and at the forefront of enterprise technology innovation. More information about Syntax at https://www.syntax.com/es-es/ and LinkedIn
About Beyond TechnologiesFounded in 2005, Beyond Technologies has grown from 100 to more than 400 professionals in the last five years, and today supports more than 150 organizations through its seven offices in Canada, the United States, France, Morocco and South Africa. Beyond Technologies specializes in providing organizations with SAP insights, tools and solutions to digitally transform their businesses. Beyond Technologies is recognized as one of Canada's 20 Best Workplaces™ and one of Canada's Best Managed Companies, and its service offering spans the entire transformation cycle, from cross-sector functional and technical business consulting to customer experience, project management, business intelligence, as well as continuous business and performance improvement. For more information, visit https://www.beyondtechnologies.com.
About NovacapFounded in 1981, Novacap is a leading North American private equity firm with over C$8 billion in aggregate capital, investments in over 100 platform companies and over 150 bolt-on acquisitions. Applying its sector-focused approach since 2007 across Industries, TMT, Financial Services and Digital Infrastructure, Novacap's extensive sector experience can accelerate business growth and create long-term value. With experienced and dedicated investment and operations teams, as well as significant capital, Novacap has the resources and knowledge necessary to help build world-class businesses. Novacap has offices in Montreal, Toronto, and New York.
More information at www.novacap.ca.
Contact:Walker Sands for Syntaxsyntax@walkersands.com
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