TM Capital Advises Sierra-Cedar in the Pending Sale of its Subsidiary, Sierra SystemsOctober 2018 | News & Press
PLANO, Texas – October 29, 2018 – NTT DATA Services, a recognized leader in global technology services, today announced its intent to acquire Sierra Systems Group, Inc., the Canadian subsidiary of The Sierra-Cedar Group, Inc.
Headquartered in Vancouver, British Columbia, Sierra Systems is a leading IT services and consulting firm offering a full range of IT consulting, systems integration, and application managed services across Canada.
This acquisition will expand NTT DATA’s North American footprint with a significant Canadian presence. It brings together two highly complementary companies focused on driving innovative, award-winning IT services to clients across a broad range of industries, including public sector and healthcare. Sierra Systems’ 52-year history, long-term client relationships and respected brand, combined with NTT DATA’s depth and breadth of service offerings, will result in the accelerated growth and strengthening of their combined competitive position across Canada.
In addition to industry and geographical expansion, Sierra Systems will expand NTT DATA’s digital services capabilities and bolster its talent in core areas, such as Microsoft Dynamics, Oracle and ServiceNow. Through its global capabilities and strength in infrastructure, application and digital services, NTT DATA will bring a broader portfolio of services to Sierra Systems’ existing clients as well as other Canadian companies.
“Sierra Systems’ reputation as a trusted advisor in Canada is evidenced by the strength of their client relationships, many of which have spanned decades,” said Bob Pryor, CEO, NTT DATA Services. “With the addition of Sierra Systems’ talented team, we’ll expand our ability to deliver innovation and business outcomes to clients in Canada and extend our North American delivery capabilities. Growth prospects are very strong in Canada, so this is an attractive market as we continue to grow globally.”
“Joining the NTT DATA family is truly a perfect match for Sierra Systems that expands opportunities for both our clients and employees. The alignment of our services and industries with an appreciation of our client relationships and culture underscores our commitment to meeting the unique needs of the Canadian marketplace,” said Pat Kaiser, Chief Operating Officer, Sierra Systems.
This acquisition will add approximately 700 new Canadian-based resources to NTT DATA. In a recent Gartner report, NTT DATA was ranked the 8th largest worldwide IT services provider in 2017, based on market share*. In 2018, Sierra Systems was awarded Computer Dealer News’ Channel Innovation Awards: Solution Provider of the Year, Disruptor of the Year, Diamond Top Data Management Solution and Gold Award for Top Channel Marketing Initiative.
“We’re confident Sierra Systems has a bright future ahead as part of NTT DATA and believe this is a great match for both sides as they grow in Canada,” said Cal Yonker, CEO of The Sierra-Cedar Group. “Looking ahead, Sierra-Cedar, Inc. will continue its primary focus on the U.S. market and deliver the best-in-class client service our clients have come to expect from us.”
The transaction is expected to close later this calendar year and is subject to customary closing conditions and regulatory environments. TM Capital served as the exclusive financial advisor to The Sierra-Cedar Group in connection with this transaction.
About Sierra Systems
Headquartered in Vancouver, British Columbia and founded in 1966, Sierra Systems is a leading Canadian IT services and management consulting firm offering a full range of advisory, systems development and integration, and application managed services. With approximately 700 professionals across Canada, Sierra Systems has developed deep expertise in its targeted industries and has earned a reputation for delivering superior solutions that strengthen organizations’ operational performance.
About NTT DATA Services
NTT DATA Services partners with clients to navigate and simplify the modern complexities of business and technology, delivering the insights, solutions and outcomes that matter most. We deliver tangible business results by combining deep industry expertise with applied innovations in digital, cloud and automation across a comprehensive portfolio of consulting, application, infrastructure and business process services.
NTT DATA Services, headquartered in Plano, Texas, is a division of NTT DATA Corporation, a top 10 global business and IT services provider with 118,000+ professionals in more than 50 countries, and NTT Group, a partner to more than 80 percent of the Fortune Global 100.
View the original press release here.