Michelmores advises on sale of TESM to DXC Technology
Michelmores' Corporate team has advised the shareholders of London-based service management company and ServiceNow Gold Partner TESM Limited, on its sale to DXC Technology.
DXC Technology is one of the world's leading IT services companies with a NYSE market cap of nearly US$20bn, supporting nearly 6,000 clients across 70 countries.
ServiceNow offers a suite of technology platforms to large businesses to help them create more efficient processes, improve customer and employee satisfaction and reduce operating costs. The TESM acquisition will see DXC significantly extend the scope and scale of its ServiceNow practice.
Alongside its acquisition of TESM, DXC Technology has also acquired BusinessNow, the largest ServiceNow provider in the Nordics.
TESM was founded in 2013 by CEO Patrick O'Connor. The company operates across six countries and counts some of the largest global financial services and pharmaceutical companies amongst its long-term clients.
Commenting on the sale, Patrick O'Connor said:
"Today we are proud to name many fantastic businesses as our clients - many of whom have been with us from the start, and we have made significant investments in R&D to accelerate enterprise adoption of ServiceNow as these clients make the shift to digital. We are excited to become part of DXC Technology, and to leverage the company’s brand, global presence and scale to further grow our business and value to clients.”
"We have received excellent support from Michelmores for several years and they were able to field a Corporate team with the resources necessary to do this deal in an accelerated timeframe."
Richard Cobb, Head of Michelmores' Corporate team, said:
"Under the leadership of Patrick and the wider management team, TESM is a real tech success story, having built a robust client base and achieved strong growth in a short time. It has been a real pleasure to support TESM in this exciting next stage of development."
DXC Technology were advised by Bird & Bird and PWC. TESM and its shareholders were also advised by Technology Holdings Worldwide, Peter Miller Partnership and Parisi Tax. A variety of international law firms were coordinated by Michelmores across India, Ireland, Australia, Holland, Germany and the US.