With the support of private equity firm One Equity Partners, Computer Design and Integration (CDI) has acquired P5 Solutions, a ServiceNow partner specializing in IT service management (ITSM), human resource service delivery, and customer service management (CSM) ) And custom application development. Financial terms have not been disclosed.
This is the M&A transaction number 381 covered by ChannelE2E so far in 2020.See the complete list of M&A transactions Here.
In addition, it is the latest version in the fast-growing list of ServiceNow partner mergers and acquisitions. CDI itself has always been an active buyer. Before reaching the P5 agreement, CDI acquired Plan B Technologies (PBT) in July 2020.
CDI was founded in 1995 and is headquartered in New York City, with offices in Teterboro, NJ, Atlanta, Annapolis, Philadelphia, and Boston. The company also has a developer in Hyderabad, India.
CDI’s acquisition of P5 solutions: executive perspective
Nemisha Patel, President and Founder of P5 Solutions
Vincent Collado, Executive Vice President of CDI
Vince Collado, executive vice president of digital transformation strategy at CDI, said in a prepared statement about the transaction:
“The demand for a holistic and seamless digital experience is unprecedentedly high. This investment allows us to better serve our growing customer base and continue to provide high-quality intelligent and automated user experiences on the ServiceNow platform. We are very pleased with P5 Join the CDI family and hope to accelerate our comprehensive growth for the benefit of all our customers.”
Nemisha Patel, president and co-founder of P5 added:
“We never want to join an industry leader like CDI anymore. In addition to being a trusted ServiceNow partner, CDI is also a nationally recognized solution provider with a successful experience in providing many other technologies. The experience of CDI really makes CDI an ideal partner to help customers take advantage of their technology investments. The values of our two companies fit perfectly. Our service quality and ability to bring customers transformative business results will reach a higher level. Considering The new opportunities for success and growth that will now be provided to our customers and employees are truly incredible.”
ServiceNow Paris version: new partner features
At the same time, ServiceNow continues to enhance its digital workflow automation platform for partners and customers. The latest version is called Paris and has business continuity, hardware asset and telecommunication service management functions.
The company said that the new version and related partner programs aim to achieve a broader, market-oriented strategy for partners to expand ServiceNow’s revenue to $10 billion or more.
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