CHICAGO — March 26, 2020 — Alfresco Software Inc. (Alfresco), an open source content services technology provider, recently acquired Technology Services Group, an enterprise content management consulting, software and services firm. Sikich Investment Banking served as the exclusive sell-side adviser to TSG.
“I have had the pleasure of knowing TSG founder and owner Dave Giordano and watching the growth and success of TSG for years,” said Rick Herbst, partner-in-charge of Sikich Investment Banking. “It is a special company, and I believe the union with Alfresco will be a win-win for both. It was rewarding to draw on our experience working on technology industry deals to successfully bring these organizations together.”
Alfresco builds and markets a cloud-native Digital Business Platform that helps companies connect, protect and unlock value from their most important information. TSG’s OpenContent Management Suite includes solutions that help users easily find and access documents, improve form and workflow processes, efficiently annotate materials, and more.
“We benefitted greatly from working with a trusted investment banking adviser,” said TSG founder and owner Dave Giordano. “Rick and his team were true partners and helped us navigate the fast-paced and high-stakes deal process. We are tremendously excited about the new opportunities that we will be able to bring to our clients and our employees by becoming part of Alfresco. Joining Alfresco allows us to continue to offer our products, solutions and services to all of our current clients as well as additional Alfresco customers, backed by the strength and support of a globally recognized leader in the Content Services market.”
Sikich Investment Banking offers mergers and acquisitions and capital markets advisory services. The team has deep experience across many industries, particularly technology, manufacturing and distribution, health care and life sciences, and business and professional services.
Transaction terms were not disclosed.
Sikich LLP is a global company specializing in technology-enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.
*Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.
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