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Tequity's Client Figur8 Cloud Solutions Has Been Acquired by AllCloud

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Tequity's Client Figur8 Cloud Solutions Has Been Acquired by AllCloud

PR Newswire

TORONTO, Aug. 15, 2018 /PRNewswire/ -- Tequity's client, Figur8 Cloud Solutions, a Salesforce Platinum Partner, has been acquired in a strategic transaction by Israeli based cloud solutions firm, AllCloud. Tequity acted as the exclusive financial advisor to Figure8. Financial terms of the deal were not disclosed. This is Tequity's fifth Salesforce partner transaction.

The acquisition marks AllCloud's entrance into the North American cloud solutions provider market. AllCloud has also raised $7 million in new funding, bringing total investment in the four-year old company to more than $15 million.

Cloud solutions provider pioneer, Eran Gil, has been appointed to CEO, bringing nearly 20 years' experience in technology and sales to AllCloud and a proven ability to build a professional services organization from the ground up. Prior to AllCloud, Gil was co-founder of Cloud Sherpas, the global cloud solutions provider acquired in 2015 by Accenture.

AllCloud offers a wide variety of solutions and services to large and mid-market companies spanning the entire digital transformation lifecycle, ranging from cloud architecture and implementation services to application integration and infrastructure management. The firm maintains high-level collaborations with AWS, Google Cloud, and Salesforce, in order to help customers choose the cloud platform that is best for them. AllCloud's team of 200 business consulting and cloud services experts support customers across industries from offices in Israel, Munich, Berlin and Bucharest, and now, through the acquisition of Figur8, from offices in San Francisco, New York, Toronto and Vancouver as well.

AllCloud's decision to acquire Figur8 was based on its strong foothold and rapid growth into the North American market. Figur8 co-Founders Ojay Malonzo and Richard Lockson worked at Salesforce for many years before starting Figur8. Since 2012, their strong leadership team and focus on long-term customer success has led to hundreds of Salesforce implementations. From technology to financial services, Figur8 has empowered customers in multiple industries to innovate on the Salesforce platform. Malonzo and Lockson will remain with AllCloud as SVP Sales North America and SVP Delivery North America, respectively.

"There is a large and growing appetite among the world's largest companies for comprehensive digital transformation, and these organizations desperately need the business and technical support and implementation and change management expertise of experienced partners," says Gil. "The acquisition of Figur8 provides us the ability to better support our customers' digital transformation efforts on a global scale. The new capital provides us the flexibility to grow organically or, if we prefer, through more acquisitions. With a seasoned management team and plenty of resources, AllCloud is in a very strong position to serve our customers wherever and however they need us."

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About AllCloud

AllCloud is a global cloud solutions provider specializing in cloud enablement, from cloud infrastructure to CRM and ERP cloud applications. For the past 4 years the company has been an AWS Premier Consulting Partner and Managed Service Provider (MSP) Partner, and a Salesforce Platinum Partner and holds partnerships with Google Cloud Platform and Oracle-NetSuite. The company is an industry leader in migrating and deploying companies of all sizes, start-ups to enterprise and public sector, to the cloud. AllCloud is headquartered in Israel with offices in Munich and Berlin, and delivery centres in Israel, Romania and Germany. www.allcloud.com

About Figur8

Figur8 delivers strategic consulting, implementation, and Salesforce development and integration services across a wide variety of industries and Salesforce specializations, including Sales Cloud, Service Cloud, Pardot, CPQ, Einstein AI, and Lightning Migration.  The company has offices in Toronto, San Francisco, New York, and Vancouver. www.figur8.com

About Tequity Inc.

Tequity provides exit, merger, and carve-out advisory services exclusively to mid-market Software, IT Services, and Information Technology companies across North America and around the globe.  We assist CEO's and shareholders to find the right strategic buyers and achieve optimal outcomes in a transaction. As business operations and growth specialists who have built companies, raised capital, and successfully exited, we bring real life experience to any M&A discussion. www.tequityinc.com

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VP Corporate Development
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SOURCE Tequity Inc.

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