1 year ago
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Syntax to Acquire Beyond Technologies, Creating a Global Team of 2,800+
Expands Syntax's Industry-Focused Capabilities, SAP® Expertise and Professional Services Talent
MONTRÉAL, Oct. 3, 2023 /PRNewswire/ -- Syntax Systems, a leading global technology solutions and services provider for cloud application implementation and management, today announced its plans to acquire Montréal-based Beyond Technologies, and its subsidiaries. Beyond is a professional services firm specialized in SAP® solution integration and business performance optimization, with operations in Canada, the United States, France, Morocco and South Africa. The combination of Syntax and Beyond is expected to create a team of more than 2,800 experts serving more than 900 mid-market and large enterprise clients globally, with 26 operations across the Americas, Europe, Africa, and Asia.
"Beyond Technologies has a stellar reputation for professional services excellence and SAP ecosystem mastery," said Christian Primeau, Global CEO of Syntax. "Beyond Technologies is home to an entrepreneurial culture that attracts the best-and-brightest technology experts who are passionate about what they do and driven to deliver outstanding outcomes for clients. A guiding principle for all Syntax acquisitions is prioritizing culture fit. We're enthusiastic about the people-first, customer-centric mentality shared by Syntax and Beyond and excited to bring the talent and energy of these teams together to better serve our clients," said Primeau.
Industry specialization in the mid-market is a particular focus for both Syntax and Beyond Technologies. Both companies offer complementary industry-focused solutions for manufacturing, as well as natural resources that further capabilities in this space. The joint portfolio of industry-specialized offerings will also include construction, retail, consumer industries, life sciences and the public sector.
"Syntax has been delivering comprehensive technology solutions and services for a remarkable 50 years. The portfolio of enterprise applications, cloud platforms, technology practices and industry specialization are the ideal complement to Beyond's expertise in SAP solution integration and business transformation," said Luc Dubois, Partner and CEO of Beyond Technologies. "We're excited to join the Syntax family of talented people, and we're very optimistic about how this enhances the outcomes we'll achieve for clients and allows us to continue to deliver value, with increased scale."
As the technology landscape for mid-market and large businesses becomes increasingly complex, more organizations require multi-cloud, multi-ERP, and enterprise application expertise. In addition to SAP, the combined Syntax and Beyond Technologies solution portfolio will include a diversified portfolio of cloud and unique, industry-specific intellectual property.
"Novacap is proud to support Syntax's acquisition of Beyond Technologies, highlighting our belief in their leadership within the application management and cloud services sector. Syntax's success in expanding its portfolio underscores the potential for value creation. As committed partners, we're dedicated to advancing Syntax's growth on the global technology stage," said Pascal Tremblay, President and CEO, Managing Partner at Novacap.
"There's a sense of hometown pride with this announcement," said Primeau. "It's a great story about the strength of two Québec-based technology companies joining forces on the global stage with the backing of a leading Canadian private equity firm, all based in the province."
"This step is a clear reflection of our belief in the strengths and capabilities that both companies bring to the table," said Ted Mocarski, Chairman of the Syntax Board of Directors. "This strategic move enables us to broaden our global reach while consistently delivering top-tier solutions and services to our clients worldwide."
The acquisition, which is expected to be completed later this quarter, is subject to the customary closing conditions, including regulatory approvals. Until the transaction is completed, Syntax and Beyond Technologies will continue to operate separately. Terms of the transaction will not be disclosed.
National Bank Financial Inc. served as the exclusive financial advisor to Beyond Technologies on the transaction.
About Syntax
Syntax provides comprehensive technology solutions and trusted professional, advisory, and application management services to power businesses' mission-critical applications in the cloud. With 50 years of experience and 800+ customers around the world, Syntax has deep expertise in implementing and managing multi-ERP deployments in secure private, public, hybrid, or multi-cloud environments. Syntax partners with SAP, Oracle, JD Edwards, AWS, Microsoft, and other global technology leaders to ensure customers' applications are seamless, secure, and at the forefront of enterprise technology innovation. Learn more about Syntax at www.syntax.com or follow Syntax on LinkedIn.
About Beyond Technologies
Founded in 2005, Beyond Technologies has grown from 100 to over 400 professionals in the past five years, and today supports more than 150 organizations across its seven offices in Canada, the United States, France, Morocco and South Africa. Beyond Technologies specializes in providing organizations with SAP expertise, tools and solutions to digitally transform their businesses. Beyond Technologies is recognized as one of the top 20 Best Workplaces™ in Canada and one of Canada's Best Managed companies, and its service offering spans across the entire transformation cycle, from cross-industry functional and technical business consulting to customer experience, project management, business intelligence, as well as continuous business improvement and performance. For more information, please visit https://www.beyondtechnologies.com
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT, Financial Services, and Digital Infrastructure, Novacap's deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge needed to help build world-class businesses. Novacap has offices in Montréal, Toronto, and New York.
For more information, please visit www.novacap.ca.
Contact:
Walker Sands for Syntax
syntax@walkersands.com
English (United States)