Montreal-based Alithya has acquired Toronto-based solution provider Systemware Innovation Corporation (SWI) Technologies. SWI specializes in developing big data analytics solutions for these sectors: nuclear, financial and transportation.
Alithya already has an office in Toronto, but the SWI deal will allows the company to increase its team to 1,500 consultants.
Alithya was started by Paul Raymond, a former senior executive at CGI in 2011 with a focus on financial technology. Raymond was CGI’s lead in integration and outsourcing for the American market. He expanded the business from 200 to more than 1,500 consultants through acquisitions and organic growth.
Today, Alithya has offices in Toronto, Vancouver, Calgary, Ottawa as well as the U.S. and over in Europe in France.
SWI has been in business for 35 years; only in Ontario. This transaction will help Alithya’s expansion of its FinTech LAB services to the Ontario market. The acquisition is expected to be immediately accretive to earnings and result in a 17 per cent increase to the current revenue run-rate.
In line with its North American growth plan, this transaction will enable Alithya to add to its talent pool with the addition of 200 consultants and management professionals in Toronto.
Raymond said, the acquisition is an important step in the execution of the company’s long-term North American strategy and provides a solid base to accelerate growth outside Quebec.
“SWI has an impressive reputation with their customers, and we share a similar culture and values, in addition to a commitment to quality and innovation. The transaction is the logical outcome: SWI was looking for a platform to expand the scope of their operations and we were looking for a high quality, turnkey operation in Ontario,” he said.