Wavestone: announces acquisition of Xceed Group

(CercleFinance.com) - Following negotiations announced on 3 April, Wavestone has announced the acquisition of Xceed Group, a British consultancy firm that is specialised in IT transformation, which mainly works with major financial services groups.


Xceed Group has 60 employees distributed between London, which concentrates most of the staff, and New York. Last year, its turnover reached 13.3 million pounds, up 8%, with an adjusted EBITDA margin of over 20%.

The acquisition was fully financed in cash on the day of the operation, at a price of about 11.5 million pounds (enterprise value), in addition to five million pounds depending on the company's performance in the coming year.



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