June 2026 Technology and Consulting Services M&A Update

June 2026 activity in technology and consulting services was headlined by a wave of private equity and institutional capital moving into the accounting profession, a landmark three-company platform acquisition by Accenture in OT cybersecurity, and continued large-scale consolidation in AI-led digital engineering. Deal flow also spanned managed services and cloud, enterprise applications, healthcare and life sciences, and marketing and communications, with financial sponsors and strategic buyers active across North America, Europe, and Asia.

Data, AI, and Digital Platforms

Persistent Systems launched a voluntary public takeover offer for all outstanding shares of Nagarro SE at EUR 81 per share, a roughly 140% premium to Nagarro’s undisturbed closing price, valuing the transaction at approximately $1.14 billion; Persistent had already secured about 21% of Nagarro from its largest shareholder. The combined Persistent-Nagarro Group would form a $2.9 billion AI-led digital engineering firm with more than 46,000 employees, with the deal expected to close in late 2026 or early 2027.

EXL (NASDAQ: EXLS) agreed to acquire iMerit for up to $310 million, adding iMerit’s foundation-model-builder relationships, its Ango Hub multimodal annotation and evaluation platform, and its Scholars network of domain specialists; EXL plans to integrate Ango with its EXLerate.ai, EXLdata.ai, and EXLdecision.ai platforms, with the deal expected to close in the third quarter of 2026.

Straive, a global leader in data and AI operationalization, acquired NextGen Invent, adding forward-deployed AI engineers with depth in life sciences and manufacturing to help clients move past the AI experimentation cycle.

Blend360 acquired In516ht, an Elite Snowflake Partner based in Ljubljana, Slovenia with subsidiaries in Dubai and Riyadh, expanding Blend360’s Snowflake Data Cloud ecosystem capabilities and deepening its EMEA and Middle East engineering footprint.

Artefact, a global data and AI transformation consulting firm, acquired Amsterdam-based OFI Services to integrate process intelligence and hyperautomation into its AI Factory delivery model, part of its strategy to triple in size by 2030.

Washington Harbour Partners made a strategic growth investment in Computomic, a leading global Databricks Gold Partner, to accelerate its Databricks practice across regulated industries and the public sector.

Lead Edge Capital made a strategic growth investment in Advancing Analytics, a London-based Elite Databricks partner and Microsoft Advanced Specialist Partner, to help scale consulting, managed services, and proprietary AI product lines.

2X, a subscription-based B2B go-to-market services firm, acquired Knownwell, an agentic AI and commercial intelligence platform, to build what it describes as the first human-agentic GTM services company; the combined company is valued at more than $400 million, with Knownwell founder David DeWolf appointed CEO.

Managed Services and Cloud Infrastructure

Rashi Peripherals, a listed Indian ICT product distributor, entered a definitive agreement to acquire a 67% stake in VDA Infosolutions for roughly Rs 368.5 crore (about $44 million), with the remaining 33% to be acquired in tranches through 2029, marking Rashi’s forward integration from distribution into enterprise technology and digital infrastructure services.

LightBay Capital made a strategic investment in Centre Technologies, a Houston-based managed services provider serving more than 750 clients across Texas and Oklahoma, to fund expansion into new geographies and service lines and to accelerate acquisitions in the fragmented MSP market.

Renovus Capital-backed xFact acquired Stonewall Solutions, a Massachusetts- and Rhode Island-based technology provider to state and local government, law enforcement, and higher education, expanding xFact’s public-sector footprint across the Northeast.

Bregal Sagemount-backed Opex Technologies acquired Intellys Corporation, a Dallas-based technology advisory firm, expanding Opex’s national platform into Texas as part of a deliberate national M&A strategy.

Gemspring Capital-backed Amplix acquired RAS3 Communications and Consulting, a Miami-based telecom and technology advisory firm, in its 13th acquisition since 2022, extending Amplix’s footprint in Florida.

Abry Partners made a strategic investment in KaufmanIT, an Irvine, California-based managed services provider, to support platform scaling, cybersecurity expansion, and continued M&A in the managed services market.

Nexus IT acquired TecServ Inc., a Salt Lake City-based industrial technology services firm, in its 11th acquisition under a programmatic M&A strategy backed by a $60 million growth facility from Metropolitan Partners Group, extending Nexus IT’s platform into industrial and operational technology environments.

Cybersecurity

Accenture agreed to acquire a majority stake in Dragos alongside full acquisitions of runZero and NetRise, in a combined deal valued at approximately $4.175 billion, creating an end-to-end OT cybersecurity platform spanning threat detection, asset intelligence, and software supply chain security for critical infrastructure. The three companies together generate approximately $208 million in ARR, growing 53% year over year, with the transactions expected to close in August or September 2026.

Optiv sold its Advisory, Consulting and Transformation business — roughly 500 consultants serving more than 800 enterprise clients — to Vobis Ventures, a technology investment firm focused on AI-native cybersecurity. The divested business will operate as Optiv Consulting, with Vobis serving as Optiv’s exclusive services partner for one year.

ERP, Enterprise Applications, and HCM

Parthenon Capital-backed Embark acquired Commit, a Workday ecosystem consulting firm named FY2026 Workday Partner of the Year for medium enterprise, in Embark’s first acquisition, expanding its HCM advisory capabilities to a combined roughly 800 team members.

Inoapps, a top global Oracle partner, acquired KS2 Technologies, an Oracle JD Edwards and OCI consultancy serving manufacturing, distribution, and residential homebuilding clients, to accelerate its North American growth.

Keensight Capital-backed Plat4mation, Europe’s largest pure-play ServiceNow Elite Partner, agreed to acquire Adeno, a Denmark-based ServiceNow consultancy, to strengthen its Nordic presence and expand AI-enabled ServiceNow delivery.

Accenture agreed to acquire Industries eXcellence Group (IndX), a division of Italy’s Engineering Group and long-standing Siemens partner with more than 650 professionals, strengthening Accenture’s Siemens Business Group with new centers of excellence planned in Italy and India.

Healthcare and Life Sciences

Martis Capital, a healthcare-focused middle-market private equity firm, acquired a majority stake in Deerfield Group, a healthcare marketing, communications, and media agency serving pharma and life sciences clients, for up to $280 million.

Tredence, a global AI and data science firm, acquired KMK Consulting, a pharma-focused commercial analytics firm working with eight of the world’s top ten pharmaceutical companies, as part of a strategy to grow healthcare and life sciences to roughly 25% of Tredence’s revenue by 2028.

Thoreau, a healthcare investment platform, entered an agreement for a strategic growth investment in Ensemble, an end-to-end revenue cycle managed services partner managing more than $55 billion in net patient revenue across 200-plus hospitals, alongside continuing investors Berkshire Partners, Warburg Pincus, and Bon Secours Mercy Health.

Vizient, the nation’s largest provider-driven healthcare performance improvement company, acquired Empierus, a healthcare IT spend management and cost optimization advisory firm and former Vizient partner, to strengthen its indirect spend capabilities.

Accenture agreed to acquire Alfahealth, a digital health subsidiary of Italy’s Engineering Group with more than 1,200 specialists, to strengthen its healthcare capabilities in the Italian market.

Huron Consulting Group acquired RelateCare, an AI-enabled clinical and patient access solutions provider established as a joint venture with Cleveland Clinic, to strengthen its healthcare managed services portfolio.

Kedaara Capital-backed Neurealm acquired Veersa, a technology value creation partner for private equity-backed healthcare companies, to expand its healthcare portfolio and accelerate agentic AI capabilities through Neurealm’s NeuGAIN platform.

Marketing, Communications, and Digital Agencies

Bregal Sagemount-backed Scorpion acquired 1SEO Digital Agency to expand its reach and bring AI-powered marketing to more local businesses nationwide.

ParkSouth Ventures-backed Infinite acquired Greentarget UK, a City of London B2B communications agency, more than doubling its London footprint and establishing Infinite as a transatlantic strategic communications platform with more than 120 consultants.

Go Capital- and Station Partners-backed Arketi Group added Sperling, a Salem, Massachusetts marketing agency, in its second add-on in recent weeks, expanding Arketi’s digital, AI, and web development capabilities into New England.

Mountaingate Capital-backed Walker Sands acquired RevPartners, a revenue operations firm and the only company holding both HubSpot Elite Solutions Partner and Clay Elite Studio Partner status, expanding its CRM, marketing automation, and go-to-market operations capabilities.

Accenture acquired Whalar, a creator and social agency that has managed more than $600 million in creator campaigns across 40-plus countries, adding the business to Accenture Song.

Renovus Capital-backed EducationDynamics acquired Net Natives, a UK-based enrollment marketing agency for higher education, to create a global higher education growth platform serving more than 400 institutions across 50 countries.

Consulting and Advisory Services

June brought a pronounced wave of private equity and institutional capital into the accounting profession, alongside continued consolidation among boutique and middle-market advisory firms.

Reverence Capital made a significant minority investment in Eide Bailly, a top-20 U.S. accounting firm with more than $800 million in revenue, which will adopt an alternative practice structure separating attest and advisory services.

KKR’s North America Fund XIV made a significant equity investment in Crowe Advisory LLC, becoming Crowe’s first institutional capital partner as the firm reorganizes into an alternative practice structure separating tax and non-attest services from licensed CPA and attest work.

TPG Growth signed a definitive agreement for a significant investment in Smith + Howard, an Atlanta-based CPA and advisory firm with roughly 800 professionals, following prior backing from Broad Sky Partners.

Baker Tilly agreed to acquire Anchin, Block & Anchin, a century-old New York accounting and advisory firm, and will relocate its headquarters to New York City as part of the deal.

Charlesbank-backed Aprio, the 20th-largest U.S. accounting firm, acquired Isdaner & Company, expanding its presence in greater Philadelphia following recent bolt-ons in Phoenix and Columbia, Maryland.

Cherry Bekaert acquired Calvetti Ferguson, a Houston-based accounting and advisory firm, expanding its Texas footprint and entering the Nashville market.

Lovell Minnick-backed Net at Work acquired Millennium Accounting Solutions, a longtime Alliance Partner, giving its clients access to Net at Work’s broader business consulting and managed services portfolio.

CLA (CliftonLarsonAllen) acquired Results from Data, a trucking-focused data analytics and business intelligence SaaS platform, expanding its digital capabilities for fleet operators.

Rubicon Management Consultants acquired ArMur Consulting, a boutique operations consultancy specializing in operational strategy and process optimization for the chemicals and mining industries.

Red Dog Equity acquired Entegee, a roughly $180 million engineering staffing business, from Akkodis (Adecco Group), marking Red Dog’s entry into the U.S. staffing market.

This material is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. All information is based on publicly available sources believed to be reliable and may include statements from company press releases and other public communications.

Data, AI, and Digital Platforms

Persistent Systems launched a voluntary public takeover offer for all outstanding shares of Nagarro SE at EUR 81 per share, a roughly 140% premium to Nagarro’s undisturbed closing price, valuing the transaction at approximately $1.14 billion; Persistent had already secured about 21% of Nagarro from its largest shareholder. The combined Persistent-Nagarro Group would form a $2.9 billion AI-led digital engineering firm with more than 46,000 employees, with the deal expected to close in late 2026 or early 2027.

EXL (NASDAQ: EXLS) agreed to acquire iMerit for up to $310 million, adding iMerit’s foundation-model-builder relationships, its Ango Hub multimodal annotation and evaluation platform, and its Scholars network of domain specialists; EXL plans to integrate Ango with its EXLerate.ai, EXLdata.ai, and EXLdecision.ai platforms, with the deal expected to close in the third quarter of 2026.

Straive, a global leader in data and AI operationalization, acquired NextGen Invent, adding forward-deployed AI engineers with depth in life sciences and manufacturing to help clients move past the AI experimentation cycle.

Blend360 acquired In516ht, an Elite Snowflake Partner based in Ljubljana, Slovenia with subsidiaries in Dubai and Riyadh, expanding Blend360’s Snowflake Data Cloud ecosystem capabilities and deepening its EMEA and Middle East engineering footprint.

Artefact, a global data and AI transformation consulting firm, acquired Amsterdam-based OFI Services to integrate process intelligence and hyperautomation into its AI Factory delivery model, part of its strategy to triple in size by 2030.

Washington Harbour Partners made a strategic growth investment in Computomic, a leading global Databricks Gold Partner, to accelerate its Databricks practice across regulated industries and the public sector.

Lead Edge Capital made a strategic growth investment in Advancing Analytics, a London-based Elite Databricks partner and Microsoft Advanced Specialist Partner, to help scale consulting, managed services, and proprietary AI product lines.

2X, a subscription-based B2B go-to-market services firm, acquired Knownwell, an agentic AI and commercial intelligence platform, to build what it describes as the first human-agentic GTM services company; the combined company is valued at more than $400 million, with Knownwell founder David DeWolf appointed CEO.

Managed Services and Cloud Infrastructure

Rashi Peripherals, a listed Indian ICT product distributor, entered a definitive agreement to acquire a 67% stake in VDA Infosolutions for roughly Rs 368.5 crore (about $44 million), with the remaining 33% to be acquired in tranches through 2029, marking Rashi’s forward integration from distribution into enterprise technology and digital infrastructure services.

LightBay Capital made a strategic investment in Centre Technologies, a Houston-based managed services provider serving more than 750 clients across Texas and Oklahoma, to fund expansion into new geographies and service lines and to accelerate acquisitions in the fragmented MSP market.

Renovus Capital-backed xFact acquired Stonewall Solutions, a Massachusetts- and Rhode Island-based technology provider to state and local government, law enforcement, and higher education, expanding xFact’s public-sector footprint across the Northeast.

Bregal Sagemount-backed Opex Technologies acquired Intellys Corporation, a Dallas-based technology advisory firm, expanding Opex’s national platform into Texas as part of a deliberate national M&A strategy.

Gemspring Capital-backed Amplix acquired RAS3 Communications and Consulting, a Miami-based telecom and technology advisory firm, in its 13th acquisition since 2022, extending Amplix’s footprint in Florida.

Abry Partners made a strategic investment in KaufmanIT, an Irvine, California-based managed services provider, to support platform scaling, cybersecurity expansion, and continued M&A in the managed services market.

Nexus IT acquired TecServ Inc., a Salt Lake City-based industrial technology services firm, in its 11th acquisition under a programmatic M&A strategy backed by a $60 million growth facility from Metropolitan Partners Group, extending Nexus IT’s platform into industrial and operational technology environments.

Cybersecurity

Accenture agreed to acquire a majority stake in Dragos alongside full acquisitions of runZero and NetRise, in a combined deal valued at approximately $4.175 billion, creating an end-to-end OT cybersecurity platform spanning threat detection, asset intelligence, and software supply chain security for critical infrastructure. The three companies together generate approximately $208 million in ARR, growing 53% year over year, with the transactions expected to close in August or September 2026.

Optiv sold its Advisory, Consulting and Transformation business — roughly 500 consultants serving more than 800 enterprise clients — to Vobis Ventures, a technology investment firm focused on AI-native cybersecurity. The divested business will operate as Optiv Consulting, with Vobis serving as Optiv’s exclusive services partner for one year.

ERP, Enterprise Applications, and HCM

Parthenon Capital-backed Embark acquired Commit, a Workday ecosystem consulting firm named FY2026 Workday Partner of the Year for medium enterprise, in Embark’s first acquisition, expanding its HCM advisory capabilities to a combined roughly 800 team members.

Inoapps, a top global Oracle partner, acquired KS2 Technologies, an Oracle JD Edwards and OCI consultancy serving manufacturing, distribution, and residential homebuilding clients, to accelerate its North American growth.

Keensight Capital-backed Plat4mation, Europe’s largest pure-play ServiceNow Elite Partner, agreed to acquire Adeno, a Denmark-based ServiceNow consultancy, to strengthen its Nordic presence and expand AI-enabled ServiceNow delivery.

Accenture agreed to acquire Industries eXcellence Group (IndX), a division of Italy’s Engineering Group and long-standing Siemens partner with more than 650 professionals, strengthening Accenture’s Siemens Business Group with new centers of excellence planned in Italy and India.

Healthcare and Life Sciences

Martis Capital, a healthcare-focused middle-market private equity firm, acquired a majority stake in Deerfield Group, a healthcare marketing, communications, and media agency serving pharma and life sciences clients, for up to $280 million.

Tredence, a global AI and data science firm, acquired KMK Consulting, a pharma-focused commercial analytics firm working with eight of the world’s top ten pharmaceutical companies, as part of a strategy to grow healthcare and life sciences to roughly 25% of Tredence’s revenue by 2028.

Thoreau, a healthcare investment platform, entered an agreement for a strategic growth investment in Ensemble, an end-to-end revenue cycle managed services partner managing more than $55 billion in net patient revenue across 200-plus hospitals, alongside continuing investors Berkshire Partners, Warburg Pincus, and Bon Secours Mercy Health.

Vizient, the nation’s largest provider-driven healthcare performance improvement company, acquired Empierus, a healthcare IT spend management and cost optimization advisory firm and former Vizient partner, to strengthen its indirect spend capabilities.

Accenture agreed to acquire Alfahealth, a digital health subsidiary of Italy’s Engineering Group with more than 1,200 specialists, to strengthen its healthcare capabilities in the Italian market.

Huron Consulting Group acquired RelateCare, an AI-enabled clinical and patient access solutions provider established as a joint venture with Cleveland Clinic, to strengthen its healthcare managed services portfolio.

Kedaara Capital-backed Neurealm acquired Veersa, a technology value creation partner for private equity-backed healthcare companies, to expand its healthcare portfolio and accelerate agentic AI capabilities through Neurealm’s NeuGAIN platform.

Marketing, Communications, and Digital Agencies

Bregal Sagemount-backed Scorpion acquired 1SEO Digital Agency to expand its reach and bring AI-powered marketing to more local businesses nationwide.

ParkSouth Ventures-backed Infinite acquired Greentarget UK, a City of London B2B communications agency, more than doubling its London footprint and establishing Infinite as a transatlantic strategic communications platform with more than 120 consultants.

Go Capital- and Station Partners-backed Arketi Group added Sperling, a Salem, Massachusetts marketing agency, in its second add-on in recent weeks, expanding Arketi’s digital, AI, and web development capabilities into New England.

Mountaingate Capital-backed Walker Sands acquired RevPartners, a revenue operations firm and the only company holding both HubSpot Elite Solutions Partner and Clay Elite Studio Partner status, expanding its CRM, marketing automation, and go-to-market operations capabilities.

Accenture acquired Whalar, a creator and social agency that has managed more than $600 million in creator campaigns across 40-plus countries, adding the business to Accenture Song.

Renovus Capital-backed EducationDynamics acquired Net Natives, a UK-based enrollment marketing agency for higher education, to create a global higher education growth platform serving more than 400 institutions across 50 countries.

Consulting and Advisory Services

June brought a pronounced wave of private equity and institutional capital into the accounting profession, alongside continued consolidation among boutique and middle-market advisory firms.

Reverence Capital made a significant minority investment in Eide Bailly, a top-20 U.S. accounting firm with more than $800 million in revenue, which will adopt an alternative practice structure separating attest and advisory services.

KKR’s North America Fund XIV made a significant equity investment in Crowe Advisory LLC, becoming Crowe’s first institutional capital partner as the firm reorganizes into an alternative practice structure separating tax and non-attest services from licensed CPA and attest work.

TPG Growth signed a definitive agreement for a significant investment in Smith + Howard, an Atlanta-based CPA and advisory firm with roughly 800 professionals, following prior backing from Broad Sky Partners.

Baker Tilly agreed to acquire Anchin, Block & Anchin, a century-old New York accounting and advisory firm, and will relocate its headquarters to New York City as part of the deal.

Charlesbank-backed Aprio, the 20th-largest U.S. accounting firm, acquired Isdaner & Company, expanding its presence in greater Philadelphia following recent bolt-ons in Phoenix and Columbia, Maryland.

Cherry Bekaert acquired Calvetti Ferguson, a Houston-based accounting and advisory firm, expanding its Texas footprint and entering the Nashville market.

Lovell Minnick-backed Net at Work acquired Millennium Accounting Solutions, a longtime Alliance Partner, giving its clients access to Net at Work’s broader business consulting and managed services portfolio.

CLA (CliftonLarsonAllen) acquired Results from Data, a trucking-focused data analytics and business intelligence SaaS platform, expanding its digital capabilities for fleet operators.

Rubicon Management Consultants acquired ArMur Consulting, a boutique operations consultancy specializing in operational strategy and process optimization for the chemicals and mining industries.

Red Dog Equity acquired Entegee, a roughly $180 million engineering staffing business, from Akkodis (Adecco Group), marking Red Dog’s entry into the U.S. staffing market.

This material is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. All information is based on publicly available sources believed to be reliable and may include statements from company press releases and other public communications.