Edgewater To Acquire Branchbird
- M&A Deals
- 18.08.2015 01:00 am
Edgewater Technology, Inc., a leading consulting firm that brings a blend of classic and product‐based consulting services to its clients, today announced that it has acquired the assets of Chicago‐based Branchbird, LLC ("Branchbird"), an Oracle Gold Partner and Cloudera Partner specializing in Big Data and Data Discovery technologies and solutions. Branchbird will join Edgewater Ranzal ("Ranzal"), a wholly‐owned subsidiary of Edgewater and a Platinum provider of Oracle Enterprise Performance Management ("EPM") and Business Intelligence ("BI") solutions and services.
Known as one of the first organizations to develop strong project credentials in the Oracle Big Data space, Branchbird is well positioned to expand Ranzal's reach into this emerging area.
Branchbird's deep experience in Oracle's Big Data technologies has enabled them to provide complex Big Data solutions to numerous enterprise customers. Edgewater Ranzal's full lifecycle services provide Branchbird with the infrastructure to rapidly expand their offerings.
"With the acquisition of Branchbird, Edgewater Ranzal will be a leader in Oracle Big Data, providing our customers with a full range of offerings across our EPM and BI platform. The intersection of EPM and BI is a cornerstone of our customers' Business Analytics needs, and Edgewater Ranzal is positioned to be a leader in the space," said Matt Renner, Senior Vice President - NA - Business Intelligence and Enterprise Performance Management, Oracle.
"Combining Branchbird with Edgewater Ranzal fits with Edgewater's channel strategy to 'complete the suite' and helps build critical mass in the evolving Oracle EPM/BI solution provider channel. The explosion in the growth, variety and frequency of data has created a unique opportunity for organizations to gain unparalleled insight locked up in this data. Branchbird and Edgewater Ranzal are uniquely positioned to help customers define a vision and utilize this data for a competitive advantage," said Edgewater Ranzal Executive Vice President Robin Ranzal.
Total consideration paid at closing was approximately $2.8 million, in cash. The purchase price is subject to a net working capital adjustment and additional earnings‐based contingent consideration of up to approximately $2.4 million, based on operating results over the two‐year period immediately following closing. Contingent consideration earned, if any, would be payable in cash.
Ridgecrest Advisors served as an advisor to Edgewater on this transaction.