IMAP India along with IMAP Netherlands advises Goyello in its strategic sale to Aspire Systems.
Goyello is an agile software solutions firm, based in Poland and The Netherlands. It provides IT consulting, software development and mobile solutions to clients in Europe and America. Aspire Systems, a Technology Services Company, acquired Goyello, a developer of IT solutions and products. For Goyello, the change is a great opportunity to enter wider markets and to take on and execute newer and more challenging projects for its clients.
Commenting on the acquisition, Mr. Gowri Shankar Subramanian, Chairman and CEO, Aspire Systems said,
“We are excited by this opportunity to partner and work closely with Goyello. With Goyello joining the Aspire family, we will be able to launch and scale up a strong nearshore delivery capability for our customers, combined with the existing offshore capability of Aspire. Goyello, with their extensive software development, project management and IT consulting expertise and over 120 employees, will make it possible to serve our European clients better and from a shorter distance and with a better time overlap. The shared vision, strategy and cultural alignment of both companies is a major reason for Aspire and Goyello to join forces.”
This is the sixth acquisition for Aspire Systems over the past five years and the first major one in Europe. It marks a strategic move on the part of Aspire as it widens its presence in Europe while also tapping into nearshoring advantages by being in Poland.
In many fast growing and rapidly changing IT spaces, such as Blockchain, artificial intelligence, advanced data analytics, cybersecurity and the Internet of Things, skilled talent is in short supply. Talent acquisition therefore is one of the key motivations behind strategic M&A transactions in this sector. Low interest rates, in combination with potential stellar returns, make the IT sector attractive for financial investors. In 2017, over 350 deals (a record high) were closed in the Dutch IT sector. Cross-border activity is very common in the IT sector, offering significant opportunities for IMAP across the globe
“This acquisition offers a great opportunity for Goyello to access wider markets and take on and execute newer and more challenging projects for our clients. Thanks to IMAP’s international network we were able to get in touch with interested parties that we otherwise wouldn’t have had access to.”
Peter Horsten, Managing Director, Goyello
IMAP Netherlands advised Goyello on its sale strategy and by reaching out to international colleagues was able to find and present the perfect fit. IMAP Netherlands collaborated closely with IMAP India, who found the buyer. Both teams, demonstrating their breadth of experience in the sector, as well as their strong local sector knowledge, were able to add significant value, creating the crucial foundations for a successful transaction for both buyer and seller.
