Private equity firm Godspeed Capital Management acquired Savli Group, a professional services partner of ServiceNow dedicated to federal government agencies. Godspeed aligns Savli with two other recent acquisitions to push government cybersecurity services deeper. The financial terms of the deal were not disclosed.
This is the technology M&A deal number 134 covered by ChannelE2E so far in 2022.
Godspeed emphasizes Tech Solutions, Cybersecurity for Government Agencies
Savli is the second add-on to Godspeed Capital’s current portfolio companies-namely, Varen Technologies and Exceptional Software Strategies. The group’s joint focus covers cybersecurity and technology solutions that protect U.S. defense and intelligence agencies from cyber threats, the private equity firm said,
Savli, founded in 1996, is a ServiceNow Elite Partner and solutions provider offering implementations, integration, digital transformation services, consulting, and IT service management (ITSM) strategy development. Roughy 20 of the company’s specialized employees hold a high level of government security clearance, says the seller.
In a prepared statement about the deal, Vishal Desai, founder and president of Savli, said:
“Godspeed Capital is using its deep industry expertise to build a leading platform that will help provide mission critical cyber and technology solutions to the U.S. Defense and Intelligence Communities. We are proud to join this platform in conjunction with Varen Technologies and ESS, where Godspeed’s strategic playbook and resources will allow us to work with other expert providers of government-related technology solutions as we continue to meeting the evolving needs of the U.S. Intelligence Community. “
Added Douglas T. Lake, Jr., founder and managing partner of Godspeed Capital:
“We are excited to partner with Vishal and the entire Savli team, whose end-to-end ServiceNow Software and Information Technology solutions are essential tools for the U.S. Intelligence Community. Savli’s decades of experience, excellent reputation, and high level of expertise in a wide range of specialized technology services make the Company the ideal partner for Godspeed as we continue to expand our platform and provide solutions. in technology and security for the U.S. Intelligence Community for many years to come. By combining Savli’s expertise in Varen Technologies and ESS, our fast-growing platform is well positioned to grow and expand its continuum of innovative services and solutions. “
Godspeed typically invests in mid-market companies that earn approximately $ 3 million to $ 30 million in annual EBITDA, the private equity firm indicated.
ServiceNow Partner M&A
Meanwhile, M&A activity in the ServiceNow partner ecosystem remains strong for two reasons: A rapid market growth coupled with a shortage of specialized experts.
In fact, ServiceNow has emerged as a preferred IT service management (ITSM) platform for enterprise IT departments – often overtaking BMC and other entrenched software rivals. In the midmarket, Fully Managed has a customized ServiceNow for MSPs and customers. And in small business, Splashtop has taken a few steps that could strengthen the ITSM platform in that market segment.
How fast is the ecosystem growing? Find the latest ServiceNow financial results here.