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Private Equity Firm Advent International Acquires Digital Transformation Consultancy Neoris

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Private equity firm Advent International has acquired 65% of Neoris, a digital transformation and IT consulting firm supporting SAP on Microsoft Azure. CEMEX has sold most of its shares and retains a 35% stake in Neoris. The valuation of the deal was not disclosed.

This is the 717th technology M&A deal ChannelE2E has covered so far in 2022.

Private equity backs SAP on Azure Cloud partners: business context

Founded in 2000, Neoris is based in Miami, Florida. The nearshore IT outsourcing company has over 5,000 employees focused on areas such as SAP services, cloud computing, manufacturing, customer relationship management, enterprise resource planning (ERP) implementation, and IT outsourcing. Neoris has completed over 1,200 of his projects for over 350 clients.

Founded in 1984, Advent International is based in Boston, Massachusetts. Since this private his equity firm was founded, he has invested $66 billion in more than 395 deals in 41 countries. According to the company’s website, Advent has approximately $76 billion in assets under management.

With Advent’s backing, Neoris plans to expand its focus on artificial intelligence, data science, cloud solutions and automation.

Advent International Acquires Neoris: An Executive Perspective

Advent Managing Partner Juan Pablo Zucchini said in a prepared statement about the transaction:

“We are thrilled to be a shareholder of NEORIS as this continues as the technology sector is growing rapidly and companies of all sizes are embarking on digital transformation initiatives. We have the right tailwinds for , and we are delighted to be part of an industry-leading company like NEORIS.”

Luis Hernández, Executive VP of Digital and Organizational Development at CEMEX, added:

“Advent is excited to invest in NEORIS and begin the next phase of a journey that began 20 years ago. CEMEX remains committed to using digital technology to lead the evolution of the building materials industry. This partnership strengthens NEORIS and its role as our strategic ally.”

Ariel Blumencrank, Managing Director of Advent Mexico, said:

“We are delighted to partner with NEORIS and CEMEX. NEORIS offers a tremendous value proposition to our ever-growing customer base. We look forward to working together in this new phase of accelerated growth and further internationalization.” .”

NEORIS CEO Martín Mendez concludes:

“This is great news and a great opportunity to drive our growth strategy. ‘s performance and strategy benefit from our management team’s deep understanding of digital trends, industries and markets.We look forward to working with Advent to further grow our business and maximize the tailwinds in the technology sector. We look forward to working with CEMEX and looking forward to bringing new ideas and expertise to our ongoing relationship with CEMEX.”

The deal is expected to close in the second half of 2022.