BDB Pitmans advise on acquisition for global digital product engineering heavyweight Accolite Digital

BDB Pitmans has advised private-equity backed US headquartered technology services provider Accolite Digital (Accolite) on its acquisition of TeamTek Consulting (TeamTek), a UK headquartered leading digital services provider in the banking and financial services sector, for an undisclosed sum. The acquisition, which involved the entire issued share capital of the target entity and its two subsidiaries, is part of a broader growth strategy, designed to help Accolite increase its reach in the Europe and Asia-Pacific regions.

Established in 2007, Accolite is a leading digital transformation services provider delivering design-led digital transformation initiatives including digital product engineering, cloud and DevOps, data and AI, customer experience and cyber security services to clients in the banking and financial services, insurance, technology, media and telecom, healthcare, and logistics industries. Accolite employs 3,000 individuals across its offices in the Europe, the USA, Canada and India.

Based in London and co-founded in 2020 by Christine Al Khalil, Johann Doassans and Rizvan Katchera, TeamTek provide digital and technology solutions for clients in the banking and finance sector. Offering business and tech advisory support as well as DevOps and DataOps solutions, the business uses cutting-edge innovative FinTech to support a diverse client base including investment banks, clearinghouses and asset managers.

BDB Pitmans’ team was led by partner Stephanie Perry with support from corporate lawyer, Ollie Flowers and employment lawyer, Laura Binnie. The M&A corporate transaction marks the latest of several successful deals closed by the firm.

The Buyer was also supported by its US advisers Jones Spross and Ropes Gray and French advisers, Paris-based Gide Loyrette Nouel.

Leela Kaza, Founder and CEO of Accolite commented:

‘We are excited to partner with TeamTek and welcome their team of technology experts to Accolite. Together, we will sharpen our offerings in Capital Markets as we aspire to be the global leader in digital transformation services. TeamTek’s deep domain expertise and proven track record delivering to large banking and financial services clients will further deepen our presence in the EMEA & APAC regions. The BDB Pitmans team’s responsivity and excellent client service helped bring the deal to a successful close.’

Partner Stephanie Perry concluded:

‘With both organisations sharing crossover expertise in capital markets focused digital services, this acquisition will enable Accolite to broaden its offering and take a fully holistic approach to the digital transformation journey by streamlining the client journey process even further. We wish them every success.’