Mphasis acquires Salesforce service partner Silverline for over $132 mn

Mphasis says the deal is part of its plan to prepare for future applied technology and predict trends

Mphasis, the India-based information technology (IT) solutions provider, said on Friday it has acquired Silverline, a New York-based digital transformation consultancy and Salesforce service partner, for $132.5 million.

Silverline will give Mphasis expertise in Salesforce and industries that include financial services, retail, healthcare, life sciences and media and entertainment, said a statement.

 
The Silverline acquisition is part of Mphasis's plan to prepare for the future applied technology and predict trends.

Silverline, which was established in 2009, has more than 400 specialists around the world. The company had a turnover of $54.5 million (CY20), $60.8 million (CY21) and $75.8 million (CY22).

"The acquisition will complement our key strategic initiative of driving the intersection across Customer Experience (CX) transformation, contact centre modernisation and conversational artificial intelligence-enabled automation,” said Nitin Rakesh, chief executive officer (CEO) and managing director of Mphasis.

“By leveraging the combined power of our organisations, we will build compelling digital experiences for our clients, offer exciting growth opportunities for our people, and drive data and AI-led innovation as the Salesforce ecosystem continues to grow,” said Gireesh Sonnad, Silverline’s CEO.

"We are excited by the powerful combination of Mphasis and Silverline and by the continued investment in the growing Salesforce ecosystem. Silverline has been a trusted partner for nearly 15 years, driving continuous innovation and value to Salesforce customers through the entire Customer 360 platform," said Brian Millham, president and chief operating officer of Salesforce. "With the added expertise and scale of Mphasis helping to broaden Silverline's reach, we are excited to empower even more amazing customer experiences together."