Virtual Clarity acquired by DXC
Silverpeak ran a very competitive process with strategic buyers resulting in a sale to DXC at an outlier valuation
About our client
IT-as-a-Service (ITaaS) transformation advisory services provider, solving large scale IT modernization and application migration challenges for clients in the world’s most demanding, mission-critical environments.
The company is comprised of a blend of enterprise IT insiders and hands-on experts with deep knowledge of modern tools, techniques and key industries – including Financial Services, Health Care, Manufacturing, and Telecommunications.
Why they chose us
The shareholders of Virtual Clarity engaged Silverpeak due to its relationships with strategic buyers in the IT services market and the quality of advice they received from Silverpeak on previous transactions.
The deal follows DXC’s strategic investment in Virtual Clarity in 2017 on which Silverpeak was also lead adviser.
How we added value
Silverpeak worked with the Virtual Clarity board as adviser on their journey to a strategic realisation, approaching both global strategic buyers and PE growth investors.
Having secured multiple Tier 1 offers, we managed the process to a tight completion timetable, resulting in a strategic valuation of c. $150m EV (implied 3x EV/revenue and >25x EV/EBITDA).
The successful outcome
A very competitive process with strategic buyers, including Cognizant and McKinsey, resulting in a sale to DXC at an outlier valuation.
UK / US