November 2025 Technology and Consulting Services M&A Update

November activity in technology and consulting services included transactions across data and AI platforms, cybersecurity and digital trust, managed services, ERP and HCM, and sector-focused advisory, with both financial sponsors and strategic buyers active in Europe and North America. Buyers continued to transact around ecosystem-aligned capabilities in cloud, security, and enterprise applications.

Data, AI, and Digital Platforms

Accenture agreed to acquire Rangr Data, a technology consulting firm specializing in Palantir Foundry and AIP, data engineering, and analytics, to expand its Palantir-related data platform capabilities.

Stirling Square Capital Partners agreed to acquire iConsulting, an Italy-based technology consulting firm focused on data analytics, cloud solutions, and digital transformation, with experience across AWS, Microsoft Azure, Snowflake, Databricks, and BI platforms. The transaction adds a data- and cloud-focused services business in Southern Europe to Stirling Square’s portfolio.

Managed Services & Cloud Infrastructure

Capgemini completed the previously announced acquisition of Cloud4C, a cloud managed services provider delivering cloud migration, managed services, and compliance support across major hyperscalers. The transaction increases Capgemini’s scale in platform-based cloud managed services and related automation capabilities.

Cognizant is acquiring 3Cloud, a leading Microsoft Azure specialist, to significantly boost its own AI and cloud transformation capabilities, combining 3Cloud’s deep Azure expertise (data, AI, app innovation) with Cognizant’s global scale, creating a powerhouse in the Microsoft partner ecosystem with over 21,000 Azure specialists and numerous awards.

Tenex Capital Management invested in Sentinel Technologies, a Chicago-based IT solutions provider founded in 1982 with network infrastructure, managed services, and managed security offerings.

Kyndryl entered into an agreement to acquire Solvinity Group B.V., a Netherlands-based provider of secure managed private and hybrid sovereign cloud platforms and services, with the goal of broadening Kyndryl’s offerings for sensitive and regulated workloads.

Netrix Global acquired the U.S. Managed IT Services business of Ricoh USA, adding a national managed IT and cloud services platform that serves mid-market and small enterprises across multiple industries.

Thrive acquired Worksighted, a Michigan-based managed services provider focused on IT support and infrastructure.

Entech acquired LAN Infotech, a Florida-based Microsoft cloud and cybersecurity provider serving legal, healthcare, and nonprofit clients, both expanding regional MSP footprints.

Focus Group acquired Chalkline, a UK-based provider of IT support, cloud services, and cybersecurity for small and mid-sized businesses.

Cybersecurity

Hexaware acquired CyberSolve, an identity and access management specialist with more than 230 professionals and alliances across major IAM platforms, to expand its cybersecurity and digital identity services.

SGS signed an agreement to acquire Information Quality (IQ), a Brazil-based provider of digital trust, cybersecurity, data privacy, and information management services, to extend SGS’s digital trust portfolio.

Amplix, backed by Gemspring Capital, agreed to acquire 24By7Security, a Florida-based cybersecurity and compliance services firm focused on risk assessments, advisory, and managed security services for regulated industries.

MorganFranklin Cyber acquired Lynx Technology Partners, a cybersecurity and risk management provider offering GRC and third-party risk services.

Ecosystem Partners and Enterprise Applications

Rootstock Software, backed by Gryphon Investors, acquired Praxis Solutions, a Salesforce consulting and implementation firm with Rootstock ERP expertise, to expand professional services for its Salesforce-native ERP product.

TQStarling acquired Fusion 3 Consulting, a ServiceNow Elite Partner specializing in integrated risk management, governance, risk and compliance, and security operations, expanding its ServiceNow practice in regulated industries.

Verndale acquired Fishtank, a Sitecore Platinum Partner based in Alberta, Canada, adding Sitecore development, composable architecture, and digital experience capabilities.

ERP, HCM, and HR and Workforce Platforms

Pine Services Group, backed by Alpine Investors, acquired Eureka Solutions, a Scotland-based provider of NetSuite, Sage 200, and iplicit solutions for mid-market organizations, and Acumen Information Systems, a Florida-based Sage 300 and Sage Intacct partner with a focus on hospitality and fleet management. These transactions extend Pine Services Group’s ERP and integration capabilities across the UK and U.S. markets.

Coalesce Capital agreed to acquire a majority stake in DecisionHR, a U.S. provider of HR outsourcing and PEO services, with announced plans to invest in technology, talent, and acquisitions.

Healthcare and Life Sciences

Huron acquired the Payor Consulting Services Division of Axiom Systems, a healthcare technology consulting business focused on payor operations and core platforms including TriZetto Facets, QNXT, and HealthEdge.

Canopii Collaborative acquired Anchor Healthcare Consultants, a firm specializing in Epic-based provider revenue cycle operations, analytics, and workflow redesign.

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.