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Silver Oak Solutions is Acquired by CGI Group
Acquisition capitalizes on emerging procurement BPO and ITO markets
September 2005 | Minneapolis, MN |
TripleTree, LLC is pleased to announce that Silver Oak Solutions, a leading provider of Spend Management solutions for the public and commercial sector, was sold to CGI-AMS, becoming a wholly-owned U.S. operating subsidiary of CGI Group, Inc., (NYSE:GIB) the largest independent information technology and business process services firm in North America with approximately 25,000 professionals and an annualized revenue run rate currently at CDN $3.8 billion (U.S. $3.0 billion) as of June 30, 2005.
The transaction combines Silver Oak Solutions’ recognized leadership expertise in the delivery of high quality Spend Management solutions with CGI-AMS's industry focus and outsourcing expertise to provide the industry’s most comprehensive savings and expense reduction capabilities inclusive of full-scale procurement Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO). In particular, this combination brings synergies with Silver Oak Solutions’ government purchasing solutions that are used by hundreds of state and local governments and its PRISM® spend analysis, strategic sourcing and compliance offering that has resulted in over $2 billion in annual cash savings for the public and commercial sector.
Founded in 1999, a privately-held corporation with over 100 senior-level professionals and offices in Boston, New York, Philadelphia, and San Francisco, Silver Oak Solutions has emerged as a leading provider of Spend Management solutions used to identify, create, and sustain measurable cost savings in procurement spending for clients in both the government and commercial sectors.
"Increasingly our clients require procurement services beyond Spend Management consulting solutions," said John West, Chairman and founder of Silver Oak. "In order to meet this need we are expanding our offering and growing our business by joining CGI-AMS, a world leader in business process and IT outsourcing services." Dean Dorman, President and CEO added, "Together, Silver Oak and CGI-AMS will offer our clients the first truly source-to-pay procurement solution."
“TripleTree was an exceptional partner bringing invaluable services throughout the entire strategic exploration and selection process,” said John West. “Having worked with a number of investment banking and financial advisory firms in the past, we were truly impressed by TripleTree’s unique approach, in-depth industry expertise and understanding of our sector, ability to apply our core fundamentals to a wide range of global players, and a hands-on approach and commitment in helping to effect a ‘game-changing’ industry move for our business by combining with a global outsourcing and BPO firm.”
To read the full case study on this transaction, please visit the Engagement page on TripleTree’s website or click here.
TripleTree, LLC is a research-based investment bank serving growth companies, investors and global acquirers. TripleTree conducts proprietary research that guides our work in M&A, growth capital and financial advisory services. Our value-based approach benefits technology-enabled businesses in sectors where delivery models are converging technology and services, and all sectors where CEO’s and investors are in search of creative ways to disrupt markets and unleash value.
TripleTree’s unique personality is shaped by the experience of our principals who as former business builders and transaction professionals create strategic outcomes that maximize value for our clients. The firm is located in Minneapolis. |
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