Harris Williams Advises Utegration on its Pending Sale to Cognizant

Rhea-AI Summary

Harris Williams is advising Utegration on its sale to Cognizant (NASDAQ: CTSH). Utegration specializes in SAP consulting for the utilities and energy sectors, boasting strong customer ties in North America. This strategic acquisition aims to enhance Cognizant's capabilities in providing software and services related to SAP and includes Utegration's industry expertise and technology solutions. RLH Equity Partners, Utegration's parent, focuses on high-growth enterprises, especially in technology and consulting services, demonstrating the ongoing investor interest in the utility sector's modernization.

Positive

• The acquisition enhances Cognizant's SAP capabilities, providing a broader technology and consulting integration.
• Utegration's established relationships in the North American utility sector position it well for growth under Cognizant.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Utegration, a portfolio company of RLH Equity Partners (RLH), on its pending sale to Cognizant (NASDAQ: CTSH). Utegration is a full-service SAP® consulting and solutions company focused solely on the utilities and energy industries. The transaction is being led by the Harris Williams Technology Group and Business Services Group, including Priyanka Naithani, Anthony Basmajian, Derek Lewis, John Chase, and Joe Bourque.

“The importance of high-quality assets has never been as pronounced as it is today. Strategic acquirers are actively pursuing opportunities like Utegration that provide sector expertise, thought leadership, complementary software and services, and IP that extend the capabilities of software solutions like SAP®. Over the past few years, Utegration CEO Bart Thielbar and his team have made deliberate investments in these areas,” said Priyanka Naithani, a managing director at Harris Williams.

“Utegration has a long history with SAP® and deep customer relationships across the North American utilities and energy sectors. We are excited to watch Utegration and Cognizant’s partnership grow in the coming years,” said Anthony Basmajian, a managing director at Harris Williams.

Utegration is a full-service consulting and solutions provider specializing in analytics, SAP® technology, and SAP®-certified products for the utilities and energy sectors. Utegration builds and optimizes new technology for finance, regulatory, customer management, and asset operations to maximize clients’ return on investment, while minimizing risk and complexity. Their industry experts have earned the trust of energy and water providers across North America with outcome-driven roadmaps and a track record of successful implementations.

RLH partners with passionate entrepreneurs in uniquely positioned, high-growth, knowledge-based enterprises driven by macro changes in technology, healthcare, and regulatory environments. RLH’s portfolio companies concentrate on offering specialized consulting, engineering, systems integration and professional services with $30 million to $150 million of annual revenue at the time of investment. The RLH investment team delivers strategic and operational guidance to its portfolio companies in navigating the opportunities and challenges of scale and rapid growth. RLH’s insights and processes to support entrepreneurs in building market-leading enterprises have been honed over RLH's more than 40-year history of successful investing.

Headquartered in the U.S., Cognizant is one of the world's leading professional services companies, helping clients across industries modernize technology, reimagine processes, and transform experiences so they can stay ahead in today’s fast-changing world.

Harris Williams is a global investment bank specializing in M&A advisory services. Clients worldwide rely on us to help unlock value in their business and turn ambitious goals into reality. We approach every engagement with boundless collaboration, pooling expertise and relationships across industries and geographies to uncover the unique story of each company. For over 30 years, our clients have trusted us to think strategically, execute precisely, and deliver premium outcomes through M&A.

Technology is ubiquitous in today’s global economy, with most sectors and industries rapidly adopting software and data solutions as companies seek to increase competitiveness and enhance productivity. Led by seasoned and passionate professionals with strong vertical and horizontal experience, the Harris Williams Technology Group partners with both growth capital and private equity investors as well as company leaders around the globe. Our clients rely on us to navigate the ever-evolving technology M&A landscape and help them turn ambitious goals into reality. Our Technology Group has deep expertise across application and vertical software as well as technology and data services.

The business services landscape is fast-moving, dynamic, and diverse, and serves a rich variety of end markets. The Harris Williams Business Services Group, led by senior professionals with extensive industry experience, partners with investors and company leaders worldwide to help them navigate the M&A market and unlock value in their businesses. We have a longstanding track record of working with companies across sectors within the commercial and industrial services, specialty distribution, professional and tech-enabled services, and IT services segments.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005520/en/

For media inquiries, please contact Julia Moore at media@harriswilliams.com.

Source: Harris Williams

FAQ

What is the significance of Utegration's sale to Cognizant (CTSH)?

The sale of Utegration to Cognizant (CTSH) enhances Cognizant's capabilities in the utilities and energy sectors by integrating Utegration's SAP consulting expertise.

How does Utegration contribute to Cognizant (CTSH)?

Utegration provides specialized SAP consulting and technology solutions that strengthen Cognizant's service offerings in the utilities and energy industries.

Who is advising on the sale of Utegration to Cognizant (CTSH)?

Harris Williams is the investment bank advising Utegration on its sale to Cognizant (CTSH).

What industry does Utegration focus on?

Utegration focuses on the utilities and energy sectors, providing consulting services and SAP solutions.

Which company is backing Utegration in this acquisition?

Utegration is backed by RLH Equity Partners, which invests in high-growth, knowledge-based enterprises.