This is technology M&A deal number 951 that ChannelE2E has covered so far in 2022.
CitiusTech Acquires Wilco Source
Founded in 2005, CitiusTech provides a range of digital healthcare technology and consulting services. The company is headquartered in Princeton, New Jersey and has 5,260 employees listed on LinkedIn.
Wilco Source, founded in 2014, is based in Santa Clara, California. The company has 285 employees listed on LinkedIn and holds over 450 Salesforce certifications. Wilco Source’s areas of expertise include SaaS, Salesforce.com, cloud computing, technology staffing, integrations, project management, .NET, Java, database, development, Sales Cloud, CPQ, Salesforce, HealthIT, Service Cloud, CPQ, Lead-to-cash and contact resolution.
The acquisition of Wilco Source enables CitiusTech to further its growth strategy and strengthen its healthcare- and life sciences-related digital offerings as well as its Salesforce implementation, integration, and product engineering capabilities, the companies said. Post-acquisition, the Wilco Source leadership team will run the integrated Salesforce business within CitiusTech, the companies said.
This is the third acquisition by CitiusTech in specialized healthcare technology and consulting over the last four years. CitiusTech previously acquired FluidEdge and SDLC Partners. A recent investment by Bain Capital Private Equity in October 2022 will enable CitiusTech to pursue strategic acquisition opportunities that deepen its healthcare domain expertise, build complementary technology capabilities, expand into new geographies, and strengthen relationships with key clients, the company said.
CitiusTech Acquires Wilco Source: Executive Perspectives
Bhaskar Sambasivan, CEO of CitiusTech, commented on the news:
“Evolving healthcare models highlight the need for exceptional patient and member experience and care at every step of their journey, driven by meaningful and actionable insights. Wilco Source will strengthen CitiusTech’s offerings in these areas and will give our clients a unified approach to building patient-centric operating models, enabling them to accelerate digital innovation. We are thrilled to welcome Wilco Source to the CitiusTech family.”
Kedar Relangi, co-founder and CEO of Wilco Source, said:
“Wilco Source has played an essential role in driving patient, provider, and member experience transformation powered by Salesforce. By joining the CitiusTech team, we will now have a wider industry presence and access to a large client base to apply our expertise and solutions, and truly transform consumer experience across healthcare and life sciences.”
Salesforce Cloud Consulting M&A
M&A activity in the Salesforce cloud consulting market remains strong. Private equity and venture capital firms have also jumped into the market from time to time, pumping money into Salesforce ISVs (independent software vendors) and MSPs (managed IT services providers).