The Silicon Partners Inc., a fast-growing Folsom-based software services company, has signed a definitive agreement to buy iXerv Americas, a similar company based in Miami.
The acquisition expands The Silicon Partners, or TSP, business into South America, Mexico and the Caribbean, in addition to its operations in the U.S., China and India, said Lokesh Sikaria, managing partner of Moneta Ventures, a Folsom-based venture capital firm, which is an investor in TSP.
The value of the cash and stock deal is not being released, Sikaria said.
The merger will add iXerv’s roughly 50 employees to TSP'S approximately 250 employees, he said.
The employees of both companies tend to be very mobile, and they often work out of the offices of the businesses that engage them to install software.
The companies both work with enterprise customers to install, update and manage software from SAP, UiPath Inc. (NYSE: PATH) and Google Cloud Platform.
"I am pleased that TSP has closed on the acquisition of iXerv Americas, augmenting TSP's already blue-chip level SAP management team," said Ravi Chowdhury, CEO and founder of TSP, in a news release. “We anticipate that the combined teams will set TSP up for success in our target markets."
The Silicon Partners was founded in November 2016 by industry veterans to help client companies with SAP integration and also with UiPath’s robotic process automation. iXerv Americas was also founded in 2016.
Moneta invested in TSP two years ago, Sikaria said. “They have been doing really well.”
Most of TSP’s customers are in the commercial sector, and they are distributed though many different industries.
The combined company will have offices in Folsom, Los Angeles, Dallas, Miami, Brazil, Chile, Mexico, Puerto Rico, Belgium, India and Shanghai.
SAP SE is a German software company that makes enterprise resource planning software and also software for business operations, human resources, customer relationship management and supply chain management, among many other tools.
