Alithya Group is pleased to announce the acquisition of XRM Vision for a purchase price of up to C$35 million, payable in cash and Class A subordinate voting shares (“Class A Shares”), including a potential earnout.
XRM Vision is a recognized Microsoft partner, specializing in creating and implementing Customer Relationship Management (CRM) and Project Portfolio Management solutions, powered by Microsoft Dynamics 365, Microsoft Power Platform and other Microsoft technologies. With a team of about 85 specialists, XRM Vision operates from locations across Canada and Morocco.
Key acquisition building blocks aligned with Alithya’s growth strategy:
- Industry knowledge and expertise:
- Enhances Alithya’s focus on higher value service offerings.
- Supports Alithya’s industry strategy to focus on financial services and insurance, manufacturing, healthcare, and public sector.
- Provides new entry points to cross-sell other Alithya solutions and services into XRM Vision’s client base.
- Asset-based solutions:
- Adds new asset-based solutions to Alithya’s portfolio designed to centralize and streamline project management and financial oversight for project managers and finance departments.
- Market-leading partners:
- Expands Alithya’s Microsoft practice, which already includes more than 250 experts in North America and Morocco.
- Increases capacity to deliver Microsoft Dynamics 365 CRM, Project Operations and Project and Planner solutions.
- Deepens expertise in Microsoft Power Platform, including Microsoft Power Automate and Microsoft Power Apps.
- Improves ability to deliver end to end agile process improvements through process mining and Microsoft Copilot agents
- Strengthens Microsoft Copilot training and support offerings.
- Cost-effective smart shoring capabilities:
- Broadens Alithya’s existing delivery capabilities in Morocco.
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“We are delighted to welcome Félix Robitaille, XRM Vision’s leader, and the whole team to the Alithya family. This acquisition is aligned with our strategic plan to find niche companies focused on higher value and complementary services for our clients. The integration of XRM Vision complements our commitment to asset-based solutions within our core industry verticals, reinforcing our focus on smart shoring capabilities.”
“I look forward to working with Félix and his high-performing team. This acquisition brings their talented Microsoft focused experts into our fold, while uniting two top Microsoft Dynamics partners, empowering Alithya to capitalize on global market opportunities. This acquisition adds to our smart-shoring footprint in Canada and in Morocco, driving greater efficiencies and accessing a wider talent pool. Finally, XRM Vision’s accelerators, designed to bridge the gap between finance and project teams by securely automating and streamlining the financials reconciliation process, are an excellent complement to our existing solutions.”
“I am thrilled that XRM Vision is joining Alithya. Our team’s deep expertise in Microsoft Dynamics Customer Experience (CE) and Project Operations will complement Alithya’s existing capabilities and enlarge our capacity by changing the world one project at a time. Building on over fifteen years as a Microsoft partner, this will also provide our team members with career growth opportunities at Alithya. Our clients will benefit from Alithya’s extensive service offerings and proprietary solutions. This transaction truly positions us to fully capitalize on Alithya’s scale to continue our trajectory of innovation and excellence.”
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Acquisition terms
Subject to the conditions and adjustments set out in the purchase agreement, the purchase price comprises (i) a cash consideration of C$8.625 million payable at closing; (ii) a share consideration of C$5.75 million, payable by the issuance of 3,449,103 Class A Shares of Alithya at closing; and (iii) a deferred cash consideration of C$8.625 million payable over three years on each anniversary date of the closing.
The purchase price also includes a potential earnout payment of up to C$12 million, contingent upon the future financial performance of the acquired business over a consecutive 12-month period within the 18 months following the closing. Twenty-five percent (25%) of the earn-out will be payable in shares and the balance in cash. The purchase price, including all closing payments, deferred anniversary payments, and the earnout, is capped at C$35 million.
The number of Class A Shares issued as share consideration at closing was calculated using a share price of C$1.6671, being the volume weighted average price (“VWAP”) of the Class A Shares for the 15 trading days ended on and including November 28, 2024. The number of Class A shares issuable as part of the earnout will be determined by dividing the earnout amount payable in Class A Shares by the VWAP for the 15 trading days ending on and including the date that is two business days prior to the payment date of the earnout.
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Source – prnewswire
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