Venture backed Alithya acquires Systemware Innovation

Alithya Group Inc., a Québe City based strategy and information technology (IT) consulting firm, has acquired Systemware Innovation Corporation (SWI). Financial terms were not disclosed.

Founded by Chairman John Wherry in 1978, Toronto based Systemware Innovation is an information technology and software engineering consulting firm. SWI is a leader in Business Intelligence and Analytics Solutions servicing clients mostly in the Ontario region.

“The acquisition is an important step in the execution of our long-term North American strategy and provides a solid base to accelerate our growth outside Quebec. We are therefore very excited to welcome the SWI professionals to our team, which now counts more than 1,500 experts. 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,” said Paul Raymond, Alithya’s President & CEO.

“We are frankly delighted to join forces with one of Canada’s fast growing top strategy and information technology consulting firms and significantly strengthen the scope of our combined service offering to our clients. This new critical mass will meet our customers’ evolving needs and expectations, while at the same time creating new challenging opportunities for our consultants with an entrepreneurial spirit,” added Nigel Fonseca, CEO of SWI.

In December 2016, Alithya raised $17 million in growth capital from existing investors Capital régional et coopératif Desjardins (CRCD), Investissement Québec (IQ), TELUS Ventures, and new investor iA Financial Group.

photo credit: Systemware Innovation

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.