The Acacia Group Announces the Divestiture of Highmetric's ServiceNow Division to Gryphon Investors
Remaining company rebranded as MajorKey Technologies with a renewed focus on delivering client digital transformation
WASHINGTON, May 27, 2021 /PRNewswire/ -- – The Acacia Group ("Acacia"), values-driven operational investors in technology and services business, today announced that Gryphon Investors has acquired the ServiceNow division of their portfolio company, Highmetric. Acacia retains a minority investment in the company as part of the transaction. Since the Highmetric brand goes with the Gryphon acquisition, the remaining company has rebranded as MajorKey Technologies. Acacia will continue to build MajorKey as a market leader amongst its investments in technology product and services companies delivering cloud-enabled digital transformation for commercial and government clients.
Acacia first acquired The Column Group in May 2019 and completed two bolt-on acquisitions before unifying the company under the Highmetric brand earlier this year. Over that time, the company's ServiceNow division continued to grow rapidly— consolidating its position as one of the world's leading ServiceNow Elite Partners. In March, Highmetric was recognized by ServiceNow as the 2021 Americas Customer Workflow Partner of the Year.
"As a result of Highmetric's exceptional reputation, we received several unsolicited approaches to acquire its ServiceNow practice," said Acacia Group partner Craig Dawson. "Gryphon demonstrated that they have both the vision and resources to build a truly global ServiceNow business. We wish them every success in their new endeavor."
Operating as MajorKey Technologies, the remaining business brings together over 420 technical, sales and delivery specialists focused on helping public and private sector clients unlock the benefits of cloud-enabled digital transformation. Their solutions architecture, software development and managed services expertise encompasses a range of capabilities, including Enterprise Service Management, Cloud Operations, Identity and Access Management, and DevSecOps.
The Acacia Group is working with the MajorKey management team on ambitious plans to grow the company's existing core practices as well as investing in new technologies and capabilities. The plans include:
- Extending the reach of MajorKey's flexible onshore/nearshore delivery offering;
- Growing the company's technical and consulting teams;
- Adding new technical capabilities and talent through further acquisitions.
The company's ultimate mission is to enable clients to respond to the needs of their customers as one cohesive, agile unit across their entire enterprise, aligning people with process, and process with technology.
MajorKey is one of Acacia's focused investments in companies developing and delivering products, professional and managed services to enterprise clients and government agencies, with an emphasis on cloud-enabled digital transformation. Acacia's other investments include Applied Insight and ID Technologies, both focused on the U.S. federal technology sector and recognized for their award-winning cloud and endpoint security product innovations. Together, these Acacia-backed companies are enabling thousands of government and commercial users to collaborate securely in delivering high quality services to their customers and the nation.
Jefferies LLC acted as the exclusive financial advisor, and Miles and Stockbridge P.C. served as legal counsel to Highmetric on this transaction.
About The Acacia Group
The Acacia Group is a values-driven private equity partnership. We are experienced operational investors in technology and services companies. We collaborate with owners who have reached the limits of what they can achieve without significant investment in people, capability and scale. We build the conditions for long-term, sustainable success, creating new possibilities for businesses to deliver lasting value for all their stakeholders. Our approach focuses on advancing capability through R&D and acquisition, and prioritizing the needs of employees, customers and partners. For more information, please visit acaciagroup.com.
Media Contact:
Sarah Broome
B Squared on behalf of The Acacia Group
Tel: +714-469-9237
Email: [email protected]
SOURCE Acacia Group
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