Wavestone SA (WAVE:PA), a leading international consultancy, and Everest Group, a US-based company, have announced a significant undertaking: first, the acquisition by Wavestone of Everest Group Consulting division to strengthen its consulting presence in the US, and second, the initiation of a strategic alliance between Everest Group and Wavestone.
Everest Group Consulting: advising enterprise organizations to solve their toughest Technology and Business Process Optimization and Sourcing challenges
Founded in 1991 and headquartered in Dallas, Texas, Everest Group is a company made of two practices: Consulting and Research–the former being acquired by Wavestone.
For the past thirty years, Everest Group Consulting has focused on delivering business process optimization, sourcing, and transformation advisory services to corporate and IT leaders. It also advises service providers on how to effectively deliver and monetize services to their targeted markets.
Everest Group Consulting serves Global 500 clients across a variety of industry sectors, including Financial Services, Utilities, Retail, and CPG, on their most important global services challenges and opportunities.
A strengthening of Wavestone in the US, in line with its international development strategy
This acquisition accelerates the development of Wavestone in the US, which is a high priority market in Wavestone’s international development strategy.
For Everest Group Consulting, the merger with Wavestone offers new opportunities for growth within a ‘pure-play’ consultancy.
“This acquisition is perfectly in line with our strategic plan in the US,” commented Pascal Imbert, CEO of Wavestone. “We were impressed with the practice’s first-class client base and the strategic character of its assignments. The skills and talent quality of the team are an ideal fit for us as Wavestone continues to expand in the US market.”
“After helping some of the largest and most complex organizations in the world solve tough sourcing and digital transformation challenges and achieve heightened operational and financial performance, accelerated value delivery, and high-impact business results, Everest Group Consulting is looking for ways to expand the business and soar to new growth benchmarks,” said Peter Bendor-Samuel, CEO of Everest Group. “Through this acquisition, the practice will be able to accomplish this goal by leveraging a deeper and wider talent pool, enhancing opportunities for faster growth, and becoming more competitive in the North American market.”
Terms of the operation
The transaction takes the form of the acquisition of all the assets of Everest Group Consulting from Everest Group by Wavestone.
The acquisition has been paid in cash and has been financed out of Wavestone’s own funds.
Everest Group Consulting has been consolidated into Wavestone’s accounts as of May 1, 2021.
Everest Group and Wavestone establish a mutually beneficial strategic alliance
In addition to this acquisition, Wavestone and Everest Group have established a strategic alliance. As such, Wavestone will serve as the exclusive consulting partner of Everest Group in North America. Additionally, Everest Group’s former consultants will have access to a level of Everest Group research content that was available prior to the acquisition. The two firms also plan to contribute to joint intellectual property creation, as well as other joint go-to-market activities, such as webinars and thought leadership.
The partnership will extend to Europe, where Wavestone will leverage Everest Group’s research and supports its ambition to expand in the region.
“We see this as an opportunity for each firm to focus on what we do best, and not only grow our core businesses but also provide better services to our clients through our partnership,” added Pascal Imbert.
“We are excited about the opportunity that stands before us to invest our full resources in our core research competencies and to build on our recent growth. This alliance allows us to accelerate the expansion of our research offerings to enterprises, which is our fastest-growing research area,” concludes Peter Bendor-Samuel.
Innovation Advisors, Dentons, Grant Thornton
About Everest Group
Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global companies, service providers, and investors.
Clients use our services to guide their journeys to achieve heightened operational and financial performance, accelerated value delivery, and high-impact business outcomes.
Details and in-depth content are available at www.everestgrp.com
In a world where knowing how to drive transformation is the key to success, Wavestone’s mission is to inform and guide large companies and organizations in their most critical transformations, with the ambition of a positive outcome for all stakeholders. That’s what we call “The Positive Way.”
Wavestone draws on over 3,000 employees across 8 countries. It is a leading independent player in global consulting.
Wavestone is listed on Euronext Paris. More information available at www.wavestone.com
About Wavestone in the US
Wavestone US is the North American arm of Wavestone. Over the past 15 years, we have supported the transformations of more than 200 Fortune 1,000 companies across a wide range of industries. Our model is unique—it leverages a strong peer-to-peer culture and offers a practitioner’s perspective on IT strategy, cost optimization, operational improvements, cybersecurity, and business management.
We strive to help business and IT leaders successfully deliver their most critical transformations and achieve positive outcomes.
More information about Wavestone US is available at www.wavestone.us.
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