M&A Deal Summary

IBM Acquires 7Summits

On January 11, 2021, IBM acquired information technology company 7Summits from Sverica

Acquisition Highlights
  • This is IBM’s 31st transaction in the Information Technology sector.
  • This is IBM’s 125th transaction in the United States.
  • This is IBM’s 1st transaction in Wisconsin.

M&A Deal Summary

Date 2021-01-11
Target 7Summits
Sector Information Technology
Buyer(s) IBM
Sellers(s) Sverica
Deal Type Add-on Acquisition

Target

7Summits

Milwaukee, Wisconsin, United States
7Summits LLC is an online communities solutions provider that brings together the best creative talent with strong business acumen so that great things can happen. 7Summits deliver top-line revenue growth and bottom-line productivity improvement by focusing on both consumer influence and employee collaboration. 7Summits was founded in 2009 and is based in Milwaukee, Wisconsin.

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Buyer(S) 1

Buyer

IBM

Armonk, New York, United States

Category Company
Founded 1911
Sector Information Technology
Employees270,300
Revenue 62.8B USD (2024)
DESCRIPTION
Entrance to IBM's corporate headquarters in Armonk, New York.
Entrance to IBM's corporate headquarters in Armonk, New York.

IBM is a global provider of information technology products and services. IBM's products and services include IT infrastructure and business process services, cloud computing, business analytics, and enterprise software. IBM was formed in 1911 and is based in Armonk, New York.


DEAL STATS #
Overall 174 of 203
Sector: Information Technology M&A 31 of 47
Type: Add-on Acquisition M&A Deals 154 of 180
State: Wisconsin M&A 1 of 1
Country: United States M&A 125 of 146
Year: 2021 M&A 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 Nordcloud Oy

Helsinki, Finland

Nordcloud Oy is a provider of cloud implementation, application transformation, and managed services. Over the past 10 years, the privately held company has grown into a pan-European leader in cloud transformation services. It is one of the few providers triple certified in Amazon Web Services, Google Cloud Platform, and Microsoft Azure. Nordcloud was formed in 2011 and is based in Helsinki, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Taos

San Jose, California, United States

Taos is a multi-cloud consulting and managed services firm. The company brings years of experience with leading brands across technology, financial services, healthcare, retail, transportation and education. A leading adopter of public cloud technologies, Taos has forged strong partnerships with Amazon Web Services, Google Cloud Platform, and Microsoft Azure to deliver data center migration, platform engineering and hybrid cloud managed services.

Buy -

Seller(S) 1

SELLER

Sverica

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2001
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sverica Capital Management is a private equity firm that invests in stable or growing, smaller companies with valued less than $250 million. Sverica looks to commit $25 to $75 million per transaction and primarily targets buyout or divestiture situations and avoids businesses in need of restructuring. Broad areas of interest include IT, business services, healthcare, light manufacturing, and industrials. The Firm generally seeks majority control investments, but will also selectively consider minority situations. Sverica Capital Management was formed in 2001 and has offices in Boston and San Francisco.


DEAL STATS #
Overall 21 of 27
Sector: Information Technology M&A 4 of 6
Type: Add-on Acquisition M&A Deals 11 of 14
State: Wisconsin M&A 1 of 1
Country: United States M&A 18 of 23
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 Defy Security

Canonsburg, Pennsylvania, United States

Defy Security is a cybersecurity solutions provider. Defy partners with top cybersecurity technology vendors to deliver solutions that meet the needs of enterprise clients across a variety of industries. Defy Security was founded in 2017 and is based in Canonsburg, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-07 WinWire

Santa Clara, California, United States

WinWire provides organizations gain a competitive advantage through providing innovative software solutions. As a Microsoft Managed Partner and AI Inner Circle Partner with numerous Gold partner accreditations, WinWire has demonstrated extensive familiarity with Microsoft cloud platforms and positioned itself as a technology leader with enterprise clients. WinWire was formed in 2007 and is based in Santa Clara, California.

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