RALEIGH … DigitalESP, a computer integration and software development consulting firm, has been acquired by France-based business and technology consultant Valtech for an undisclosed amount of Valtech stock.
DigitalESP will be folded into Valtech’s North American operations, headquartered in Dallas. Brad Murphy, president and chief executive of DigitalESP, will become a senior vice president of Valtech. All 40 employees will be retained.
“We strongly believe in the fast globalization of the IT market,” Murphy says in a statement. “We think that our strong local expertise combined with quality and costs driven via offshore (at Valtech’s new development center) in India, is the right way to go.”
DigitalESP has been a partner with IBM since the company was founded in 1994, working with IBM customers to leverage their WebSphere investments. About two-thirds of DigitalESP’s revenue, expected to be $6 million this year, come from the insurance industry. Other strong markets include utilities and financial services.
“With this transaction, we can maximize the obvious synergies throughout the U.S. market, but particularly in the New York region where DigitalESP’s numerous insurance clients will translate into immediate opportunities for Valtech consultants in our local office,” Eric Mouilleron, Valtech’s chief acceleration officer, says in a statement.
DigitalESP had been part of an investment portfolio owned by the Peder Sager Wallenberg Charitable Trust. The company’s adviser in the sale was Charlotte-based investment bank DecisionPoint International.