MONTREAL, Dec. 16, 2019 /PRNewswire/ - Alithya Group inc. (TSX: ALYA) (NASDAQ: ALYA) ("Alithya"), a leader in digital strategy and technologies employing more than 2,000 highly qualified professionals offering enterprise solutions across Canada, the United States, and Europe, is proud to announce the acquisition of Travercent LLC, ("Travercent ").
Travercent is a leading US-based cloud-focused consulting group specialised in the healthcare sector. Their competencies include implementing Oracle's cloud ERP, HCM, EPM and BI applications. Travercent has also developed an IP-differentiated offering leveraging the company's proprietary cloud products, CAPSURETM, an Oracle cloud extension that maximizes material management processes for healthcare providers for supply chain management and point of use.
"I am very proud to announce the addition of Travercent to Alithya," said Paul Raymond, President and CEO of Alithya. "The firm's expertise with Oracle cloud technologies in the US healthcare sector is of particular strategic significance to us, given the importance of this technology and this business sector within our long-term business strategy. In Travercent, we found a very strong team with a solid reputation and a similar culture, along with an impressive track-record of successful implementations for prestigious customers. Their high degree of specialization is also very complementary to our existing practices."
"For this acquisition, we once again focused on analyzing the compatibility of the two organizations. Travercent's client-centric approach tailored to each client's story, and its performance-driven entrepreneurial spirit really appealed to us. We are confident that this transaction greatly enhances our existing position as a leader in the healthcare and Oracle cloud enterprise solution spaces in Canada and in the US," concluded Mr. Raymond.
"We are very pleased to be joining forces with Alithya," said Mike Feldman, Co-Founder and Managing member of Travercent. "Travercent began as a vision to build a firm that would stand out in the healthcare field, leveraging Oracle technologies. Our strong growth experienced over the past few years shows that our unique approach, expertise and past implementation performance are proving highly appealing to customers."
The Co-founder & Vice President, Sales and Marketing for Travercent, Chad Sells, stated: "Our integration into Alithya will give us access to complementary Oracle and other business expertise. We can bring these complementary services to our existing customers and access Alithya's large network, which will accelerate our growth and provide our professionals bigger and better opportunities."
Serving clients across the United States, Travercent's many achievements have established the company as a key player at many levels of the patient care chain, from local clinics to hospitals, as well as with other important stakeholders, such as insurance companies, pharmacies, etc.
The purchase consideration for the transaction amounts to approximately $US 18.0 million (or approximately $CAN 23.7 million), payable in cash and in Class A subordinate voting shares of Alithya. The transaction is expected to immediately contribute to Alithya's profitability on an adjusted basis.
Travercent was represented in the transaction by Innovation Advisors, a global, technology-focused, merchant banking group.