Montreal-based Alithya, which specializes in the digital transformation of organizations, is making its third acquisition south of the border.
Posted at 12:49 p.m.
Alithya acquires Vitalyst, a Philadelphia company that operates an on-demand online learning platform. A Microsoft partner, Vitalyst offers live lessons for users who need to have the knowledge to use Microsoft enterprise software.
The transaction is valued at approximately C$63 million. Following this acquisition, nearly 45% of Alithya’s revenues will come from the United States.
Alithya believes this transaction improves its revenue mix with a new “high margin” recurring revenue stream based on a subscription model. Management also sees “strong potential” for cross-selling with its current service offering and customer base.
Vitalyst’s turnover amounts to 34 million Canadian. This company has a staff of 165 professionals supporting more than 350 business applications with more than 400 customers located in some 20 countries.
Alithya continues its growth in the US market with this transaction. In 2019, the company purchased Travercent, an Oracle cloud product specialist headquartered in Texas. When it went public in 2018, Alithya combined its activities with those of Edgewater Technology, a Boston company.
Alithya’s stock rose 10% at midday Tuesday on the Toronto Stock Exchange.