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1、The Drake Star Partners Global Digital Services team is pleased to present the 11th edition of our quarterly Digital Services Report.This provides updates on industry happenings such as important news and events,mergers and acquisitions activity,and insights into the present and future trends impact

2、ing major areas of investment within the industry,including:DIGITAL TRANSFORMATION CLOUD MIGRATION TECH-ENABLED SERVICES SECURITY SERVICES BUSINESS INTELLIGENCE&DATA ANALYTICS+49 173 +33 6 87 99 05 +44 777 305 2247 +1 646 245 35503(1)Drake Star Analysis based on M&A and Private Placement dataQ1 2024

3、 saw consistent deal-making with a slight uptick in M&A deals as financial and strategic buyers continued to look for disruptive Digital Services assets,with an emphasis on business optimisation,productivity and security benefits.The quarter marked consistent participation from Private Equity with a

4、 strong appetite for synergistic bolt-on acquisitions,to unlock further value and potential returns as part of a Buy&Build strategy.Overall activity for Q1 2024 totaled 320+&$4.4bn+disclosed M&A deals and 420+&$2.1bn+disclosed fundraises in Q1 20241,including:Accenture acquired Arhs Group for an und

5、isclosed amount Saalex acquired Spalding Consulting for$75m Wavestone acquired Aspirant Consulting for an undisclosed amount GSS raised$47m of Series A2 funding from AlixPartners,Cynosure Group and Commonwealth Bank of Australia Velosio raised an undisclosed amount of development capital from Court

6、Square Plexus raised an undisclosed amount of development capital from Portobello Capital Looking ahead in Q2 2024,we expect an upswing in M&A and fundraising activity as the market continues to consolidate.We anticipate continued demand for Digital&Tech-enabled Services with the potential to help c

7、ompanies understand and harness next-gen technologies,such as generative AI,for business intelligence,productivity,and to accelerate digital transformation agendas.4Economist Impact:European banks embrace cloud migrationThe Paypers,Feb 16,2024AWS Joins Google Cloud in removing customer exit costsFor

8、rester,Mar 13,2024Accenture partners with Microsoft to launch Cloud Modernisation&Migration FactoryAccenture,Mar 27,2024Kyndryl bets on partnerships and consulting armCIO,Feb 23,2024Cognizant launches state-of-the-art San Francisco lab to boost enterprise AI adoptionVenture Beat,Mar 7,2024Airbus sig

9、ns multi-year modernisation contract with Sopra SteriaAirport Technology,Jan 22,2024ServiceNow unveils new intelligent automation toolITWeb,Mar 26,2024Digital transformation drives gains for IT and software groupsFinancial Times,Mar 25,2024KPMG UK joins SAP PartnerEdge to advance business transforma

10、tionERP Today,Mar 27,2024Google Cloud puts AI at centre of data analytics plansComputerWeekly,Mar 1,2024KPMG partners with Databricks to offer clients advanced data analytics Technology Magazine,Mar 15,2024Qlik expands unstructured data analysis capabilities with Kyndi acquisitionCRN,Jan 19,2024AT&T

11、 Cybersecurity Director on Understanding Cybersecurity-as-a-ServiceSpiceworks,Mar 27,2024Telefnica continues rollout of NextDefense Security Services to UK and IrelandT,Mar 11,2024Keysight sparks 1.1bn bidding war for security expert SpirentSky News,Mar 28,2024Note:Drake Star Partners did not act as

12、 financial advisor on the transactions listed on this pageSources:Similar Web,Capital IQ,Pitchbook,LinkedIn,Company WebsitesNote:Drake Star Partners did not act as financial advisor on the transactions listed on this page5Year foundedEmployeesSub-sectorTotal Website VisitsMarch 18th,2024 ACQUISITION

13、 BYAccenture acquired Arhs Group for an undisclosed amount.The acquisition will further enhance Accentures public service offering.Provider of information technology projects and systems management services intended to serve Benelux and European institutional markets.The companys services include so

14、ftware development,data science,digital trust,mobile development,machine learning,and cloud services.Jourdan Serderidis Co-Founder,CEO and ChairmanLuxemboug20032,33026.4kDigital TransformationJanuary 23th,2024 ACQUISITION BYSaalex acquired Spalding Consulting for$75m.The acquisition enables Saalex t

15、o grow their access to federal agencies and enhance software development services.Provider of Information Technology services catering to the Department of Defense.The company specialises in program management,financial management,software development,research and development,prototyping and develop

16、ment,mobile application,microservices architecture design,legacy systems,migration and other services.Barry Spalding Founder&CEOLexington Park20014305kTech-Enabled ServicesJanuary 16th 2024ACQUISITION BYWavestone acquired Aspirant Consulting for an undisclosed amount.The merger enables Wavestone to

17、strengthen its presence in the United States and take advantage of synergies.Provider of management consulting services including strategic planning,process design,marketing and customer experience,brand strategy,M&A,app development and Microsoft Cloud solutions.Michael McClaine CEOPittsburgh2003405

18、29.0kTech-Enabled ServicesYear foundedEmployeesSub-sectorTotal Website VisitsSources:Similar Web,Capital IQ,Pitchbook,LinkedIn,Company WebsitesNote:Drake Star Partners did not act as financial advisor on the transactions listed on this page62021122March 25th,2024 PRIVATE PLACEMENT Tech-Enabled Servi

19、ces10.5kProvider of financial screening services including sanctions transactions screening,compliance,watchlist screening and alert generation and disposition services,delivering clients reduced delays by increasing screening and delivering effectiveness&efficiency.Tom Scampion CEORuth Fletcher CFO

20、&COOGSS raised$47m of Series A2 funding from AlixPartners,Cynosure Group and Commonwealth Bank of Australia.The investment coincides with the companys preparation to go live with inaugural clients.LondonPlexus raised an undisclosed amount of development capital from Portobello Capital.The investment

21、 will support growth and financing of acquisitions.Provider of IT consulting services including data-led digital transformation,hyper-automation,systems consulting,cybersecurity,product development and managed services.Antonio Agrasar Founder&CEO20002,425February 20th,2024Santiago PRIVATE PLACEMENT

22、Digital Transformation25.2k2017450March 1st,2024 PRIVATE PLACEMENT56.0kVelosio raised an undisclosed amount of development capital from Court Square.The funds will be used to further expand industry footprint as a provider of innovative business solutions and cloud technologies.Provider of cloud-bas

23、ed business management services including implementation of process automation,business intelligence and analytics solutions.Bob Knott CEODan Petschke CFODublin,OhioCloud ServicesUndisclosed18.03.24Provider of information technology projects and systems management services$800m01.12.23Award-winning

24、Google Cloud partner assisting in management and automation of IT operationsUndisclosed08.11.23Provider of digital transformation consulting and management services$113m04.10.23Full-service cybersecurity and cloud services provider for organisations across the Asia PacificUndisclosed03.08.23Helps co

25、mpanies turn visitors into buyers by designing and executing valuable marketing and sales strategies on top of their integrated platform,the Lead Activation HubUndisclosed31.07.23Operator of a machine learning and artificial intelligence solutions companyUndisclosed21.07.23Provider of application de

26、velopment services for web and mobile platforms and other digital transformation services Undisclosed16.05.23Provider of IT,telecom and managed services including customised IT,cloud solutions,business continuity,structured cabling and technology solutionsUndisclosed15.05.23Provider of software deve

27、lopment and digital servicesUndisclosed03.04.23Provider of consulting services including IT,data management,data centre and management,digital workspace,cloud and infrastructure and cybersecurity services7Sources:Similar Web,Capital IQ,Pitchbook,LinkedIn,Company WebsitesNote:Apart from those indicat

28、ed as such,Drake Star Partners did not act as financial advisor on the transactions listed on this page$47m25.03.34Provider of financial screening services including sanctions transactions screening,compliance and watchlist screening Undisclosed01.03.24Provider of cloud-based business management ser

29、vices including implementation of process automation,business intelligence and analytics solutionsUndisclosed20.02.24Provider of IT consulting services including data-led digital transformation,hyper-automation,systems consulting,and cybersecurity servicesUndisclosed24.01.24Provider of data-driven i

30、ntelligence and tech-enabled servicesUndisclosed15.12.23Provider of a range of digital services including digital transformation,data storage,managed services,cloud computing and cybersecurity$18m19.10.23Developer of automation platform for cloud migration$93m09.10.23Enterprise database management s

31、pecialist delivering managed services&consulting for Oracle,SQL server&multi-cloud technology$336m14.09.23Developer of real-time data integration platformUndisclosed26.07.23Provider of digital marketing and technological services intended to provide strategic,operational and technical supportUndiscl

32、osed06.06.23Provider of next-generation cloud infrastructure and services intended to offer networking and computing services8Sources:Similar Web,Capital IQ,Pitchbook,LinkedIn,Company WebsitesNote:Drake Star Partners did not act as financial advisor on the transactions listed on this page9IBM(+18.7%

33、)rose following strong revenue growth,especially in its Red Hat and consulting businessesSopra Steria(+14.3%)reported improvements in operating performance in FY23 in FebruaryLTI Mindtree(-16.0)fell having missed latest earnings expectations Endava(-48.2%)stock fell due to mixed quarterly results,fo

34、llowing strong share price performance during Q4 2023Note:Price-weighted indexes calculated as the simple average of the share prices;Capital IQ as of April 4th 2024Digital Services:HCL,Accenture,Wipro,Cognizant,DXC,Capgemini,TCS,Elixirr,Fujitsu,Sopra Steria,Infosys,Genpact,Grid Dynamics,EPAM System

35、s,Endava,Wavestone,LTIMindtree,SysGroup,IBM,NEC CorporationDigital Services IndexNASDAQ Composite11%4%Jan-24Feb-24Mar-24-4%0%4%8%12%24.2%18.7%14.3%-10.7%-16.0%-48.2%10*Denotes transactions led by current partners at Drake Star Partners,prior to joining the firmINVESTMENT IN&MERGER WITHHAS RECEIVED I

36、NVESTMENT FROMSALE TOSALE TOPRIVATE PLACEMENTSALE TOAND ROLLOVER OF MANAGAMENT SHARESSALE TOSALE TOSALE TOHAS RECEIVED INVESTMENT FROMHAS RECEIVED INVESTMENT FROMSALE TOSALE TO*SALE TO*SALE TO*SALE TOSALE TOSALE TORECAPITALISATIONSALE TOHAS RECEIVED MAJORITY INVESTMENT FROMSALE TOSALE TOSALE TOTRANS

37、ACTED WITH11*Denotes transactions led by current partners at Drake Star Partners,prior to joining the firmSALE TO*HAS ACQUIREDMAJORITY SALE TOSALE TOSALE TO*SALE TOPRIVATE PLACEMENTSALE TOSALE TOSALE TO*SALE TO*MAJORITY GROWTH INVESTMENTMAJORITY SALE TOAND ROLLOVER OF MANAGEMENT SHARESSALE TO*SALE TO*SALE TO*SALE TOSALE TOSALE TO*SALE TO*RECAPITALISATION WITHSALE TOACQUISITIONS&COMBINATION OFSALE TO