HMT LLP, led by managing partner Andrew Thomson, partner Paul Read and manager Andrew Reid, advised leading provider of enterprise software applications and digital operating technology Sapphire Systems (Sapphire) on their acquisition of ITOM Solution, a UK-based ServiceNow specialist partner.
ITOM Solution is a fast-growth and innovative provider of IT Operations Management, AiOps, Application Performance Management, and IoT cloud services. The company is a leading partner of ServiceNow, Cisco AppDynamics and Dynatrace, working with enterprise and high-dependency digital businesses to turn digital operations into a business advantage.
Backed by Horizon Capital, Sapphire’s strategy to accelerate growth both organically and through acquisition will deliver on the company’s vision to become the leader in the provision of digital operating platforms which reduce complexity, underpin transformation, and drive optimum performance.
Consolidating its strategy to support cloud-led digital transformation through the provision of the very best digital operating platforms, Sapphire’s experience and market reach in this space will accelerate the development and delivery of the ITOM proposition, revolutionising the way in which enterprise software is deployed and managed. Through supporting enterprise customers in their digital transformation initiatives, Sapphire will facilitate scale, reduce complexity, as well as agility and resilience, allowing organisations to minimise the total cost of ownership and focus on innovation.
HMT led by Thomson, Read and Reid undertook financial due diligence for Sapphire on this transaction
Martin Royle, M&A director at Sapphire commented: “This investment was a very exciting opportunity for us and had to be completed within a very short space of time. Paul and Andrew were able to engage immediately and provided great support and advice through the whole process, responding to additional requests very quickly. They were instrumental in getting this transaction over the line and we look forward to working with them again.”
Read commented: “We are delighted to have advised Sapphire and Horizon Capital on the bolt-on acquisition. With ITOM Solution’s acquisition, Sapphire is strengthening its market-leading position and is taking one more step forward in designing the very best digital workflows, with Horizon’s backing enabling them to deliver on their buy and build strategy. We look forward to working with Sapphire in the future as the business expands and grows.”