VIP Acquires Largest Privately-Held SAP Firm in the U.S.
Acquisition expands services globally
Folsom, California (July 11, 2007) – Visionary Integration Professionals (VIP), a leading global information technology solution provider, announced today that it has acquired MyITgroup, the largest privately-held SAP solutions firm. With this acquisition, VIP will expand solutions to include its first international location in Bangalore, India.
Combined revenues for 2007 will exceed $150 million and total staff will approach 800. Founded in 1996, VIP has captured an under-served market with an extraordinary growth rate that has 2007 revenues at nearly 10 times 2004 levels.
“We are looking forward to working from a newly expanded global platform and delivering a new set of solutions for our client partners,” said Jonna Ward, Chief Executive Officer of VIP. “As we continued to evaluate how to best help our clients, we found SAP at every turn. Seeing this constant demand from our customers is what led VIP to seek out the best in the industry and what led us to MyITgroup.”
“With all acquisitions, we consider three elements: cultural fit, market demand, and potential synergies post-acquisition. MyITgroup was a perfect match for all three,” said Ward. “The synergy gained is powerful as VIP will not only offer new SAP solutions for its clients, but will also bring a new blended on-shore, off-shore delivery capability to our other solution offerings.”
Founded in 2000, MyITgroup, like VIP, captured an under-served market with staff totaling 400 and 2006 revenues at $62 million in comparison to 2003 at $26 million.
“The SAP space has seen tremendous consolidation in the past three years. Given SAP is what we live and breathe, we committed to only sell MyITgroup if we were confident that our core values and our focus on taking good care of our clients and staff was already engrained in the new organization,” said David Perroni, Managing Director of MyITgroup.
“We understand that our success is a direct result of how happy we keep our clients, partners and employees,” said Zane Edwards, Managing Director of MyITgroup. “Enabling our employees to provide repeatable, high quality solutions for our customers and partners is a fundamental value shared by both VIP and MyITgroup. This acquisition reinforces our commitment to the SAP market and enables us to continue delivering the world-class solutions that our customers and partners have come to know and trust with even greater effectiveness and efficiency. We are excited about joining forces with VIP.”
This acquisition comes after VIP screened more than 300 companies during the past 18 months. Don Holbrook, Managing Director from DecisionPoint International, represented MyITgroup in this transaction.
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About VIP
Established in 1996, Visionary Integration Professionals (VIP) is a global technology and outsourcing firm that has provided solutions to over 900 clients in multiple industries as well as federal, state and local government. VIP helps companies challenge boundaries and uncover new possibilities to increase productivity, maximize revenue, improve performance, mitigate risk, and reduce costs. With more than 935 employees companywide, VIP offers expertise in areas of Business Intelligence and Data Warehousing, SAP Integration and Consulting, Technology Integration and Operations, Human Capital Management, Quality Management, and Management Consulting. VIP’s corporate headquarters is located in Folsom, California with offices in Sacramento; Minneapolis; Dallas; Denver; New York City; Alexandria; Houston; and Bangalore, India. More information can be found at www.vipconsulting.com
About MyITgroup
Established in 2000, MyITgroup is a global consulting firm solely focused on delivering SAP solutions. MyITgroup maximizes its clients’ return on investment by establishing dedicated practices focused on all aspects of SAP, including business intelligence, portal implementations, upgrades and a variety of other sub-specialties. With a focus on strategy, people, process, solutions, and support, MyITGroup delivers value through three primary delivery methods: solutions, outsourcing, and workforce. For seven years, MyITgroup has partnered with more than 500 SAP clients to deliver quality solutions that span a variety of industries. MyITgroup maintains its headquarters in Houston, Texas with clients supported nationwide and with a foreign subsidiary headquartered in Bangalore, India. For more information, visit www.myitgroup.com.
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Media contacts:
Patty Nelson, pnelson@vipconsulting.com, (916) 985-9625
Zane Edwards, zedwards@myitgroup.com, (713) 980-7603
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