Mphasis shares in news as IT firm acquires Sonnick Partners for $133 million

Shares of Mphasis will be in focus on Friday morning after the IT firm said announced acquisition of Sonnick Partners (doing business as Silverline), a digital transformation consultancy and salesforce partner, for $132.50 million.

The New York-based Silverline guides its clients through digital transformation journey with consulting and advisory services, implementation and managed services, and specialty capabilities, Mphasis said while noting that Sonnick Partners was established in 2009 and has about 400 employees.

The key objective behind the acquisition, Mphasis said, is to strengthen position as an end-to-end Salesforce enterprise cloud solutions and services provider, offering clients capabilities for cloud-first digital transformation.

Mphasis said Silverline helps organisations take a data-driven and technology-focused approach to better connect with and serve their customers.

"The acquisition will complement our key strategic initiative of driving the intersection across Customer Experience (CX) transformation, contact center modernisation and conversational AI-enabled automation, thus enabling tech transformation to meet the evolving and dynamic needs of our clients,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

Rakesh said Silverline’s deep Salesforce expertise and scale help Mphasis in designing next-generation digital capabilities and establish it as a dominant player in the Salesforce ecosystem.

Silverline would offer Salesforce expertise and industry knowledge across a variety of industries including financial services, retail, healthcare, life sciences and media & entertainment.

"The acquisition of Silverline is part of Mphasis' global vision to anticipate the future of applied technology and predict tomorrow’s trends in an ever-changing landscape," Mphasis said.

Also read: TCS shares delivered flat returns in two years and Infosys, Wipro lagged behind; what’s next for the IT stock?

Also read: HDFC Bank, UTI AMC, Exide Industries: Trading strategies for these buzzing stocks