Mphasis Corporation, a wholly-owned subsidiary of Indian IT service provider Mphasis Ltd, acquired New York-based Sonnick Partners LLC along with its subsidiaries for a consideration of $132 million, the company said in a stock exchange filing.
Sonnick Partners (which does business as Silverline), is a digital transformation consultancy and Salesforce partner headquartered in New York with over 400 employees, said the company on Friday. Silverline is focused on consulting and advisory services, implementation, managed services and specialty capabilities.
The acquisition strengthens Mphasis’ position as an end-to-end Salesforce enterprise cloud solutions and services provider, offering clients capabilities for cloud-first digital transformation.
Silverline was founded in 2009. As a Salesforce service partner, it caters to industry verticals such as financial services, healthcare and media and entertainment. It has presence in North America, Central America and India.
The company had a turnover of $54.5 million, $60.8 million and $75.8 million in the last three calendar years.
Established in 2009 with its headquarters in New York City, Silverline guides clients through every stage of their digital transformation journey with consulting and advisory services, implementation and managed services and specialty capabilities.
Nitin Rakesh, CEO and MD, Mphasis, said, “We are excited to have team Silverline join the Mphasis family and look forward to achieving great success together. Silverline’s deep Salesforce expertise and scale, combined with our execution muscle and reach, will not only assist us in designing next-generation digital capabilities but will also help establish us as a dominant player in the Salesforce ecosystem.”
Rakesh added, “ The acquisition will complement our key strategic initiative of driving the intersection across customer experience (CX) transformation, contact center modernization and conversational AI-enabled automation, thus enabling tech transformation to meet the evolving and dynamic needs of our clients.”