Solganick & Co., Inc. (“Solganick”) is pleased to announce another successful transaction in its Tech-Enabled Services M&A group. Solganick served as the exclusive advisor to Orlando, FL-based Pandera Systems, LLC (“Pandera Systems” or “Pandera”) in its strategic merger with Chicago, IL-based 66degrees (“66degrees”), backed by growth-oriented private equity firm Sunstone Partners. The transaction was announced on October 25, 2022 and creates the second largest pure-play Google Cloud services firm in North America by both employee count and professional services revenue.
Pandera Systems, headquartered in Orlando, is a global analytics and technology provider with a primary focus on developing innovative data solutions, leveraging the advanced capabilities of the cloud. Pandera engineers, data scientists, and technologists build and run leading-edge technology solutions by leveraging cloud, design thinking, data, and analytics through collaborative relationships with partners and customers.
“The 66degrees and Pandera merger brings together two of the most advanced Google Cloud services firms on the planet. Our primary focus for the last 12 years has been helping our customers design and build innovative data solutions that truly enable data-driven decision-making at scale. Joining forces with 66degrees, we will now also be able to offer our customers world-class capabilities covering cloud migrations, infrastructure, security, application modernization, and enterprise productivity. We are excited to be able to expand 66degrees’ data and analytics and AI/ML capabilities to their existing customers.” said Kevin Curley, Pandera Systems CEO.
“The merger with Pandera greatly expands 66degrees’ data & analytics capabilities, and establishes us as the second largest exclusive Google Cloud services firm in North America,” said Matt Kestian, CEO of 66degrees. “Data and analytics are at the center of every business decision. Our clients are seeking to modernize their platforms and harness the value of their data to drive business performance. The combination of Pandera and 66degrees further supports our collective clients’ digital transformation and our company mission.”
With 66degrees and Pandera Systems under one roof, the company can give its combined client base of more than 1,000 organizations a full suite of Google Cloud services, including: data and analytics modernization, cloud infrastructure modernization, DevOps transformations, cloud-native application development, and Google Workspace solutions. The combined business will have about 500 team members, featuring more than 375 combined GCP and GWS certifications. With offices in Denver, Chicago, Orlando, India, as well as a talent-driven remote workforce, the company will continue normal operations in its current locations.
Kevin Curley, CEO of Pandera Systems noted, “the Solganick team ran an efficient M&A process that allowed our shareholders and management team to select the best fit for our needs. Aaron Solganick and his deal team know the cloud and data analytics IT services ecosystem very well and have many connections in the sector. Their expert advice coupled with running a fast and effective transaction process helped us make the best overall decision for our business.”
Aaron Solganick, CEO of Solganick, applauded the transaction, “Pandera Systems is an innovative Google cloud and data analytics business led by an incredible team. I have been impressed with the Company’s approach and delivery model from the very beginning and am thrilled to help the Pandera team close a fantastic transaction for all stakeholders. This combination makes perfect sense for both Pandera and 66Degrees, and the Google partner ecosystem, and we are excited for the great things to come from this strategic partnership.”
Solganick was the exclusive sell-side M&A advisor and Elder Bray & Bankler LP was the legal advisor to Pandera Systems.
66degrees is a Google Cloud Premier Partner headquartered in Chicago, IL focusing on driving meaningful digital transformation with its clients. The company’s experts modernize and secure infrastructure, apps, data, and day-to-day collaboration with Google Cloud – focusing on business outcomes at every step.
For more information, visit 66degrees.com
About Pandera Systems
Pandera Systems, is a Google Cloud Premier Partner headquartered in Orlando, FL is a global analytics and technology provider with a primary focus on developing innovative data solutions leveraging the advanced capabilities of the cloud. Pandera engineers, data scientists, and technologists build and run leading-edge technology solutions by leveraging cloud, design thinking, data, and analytics through collaborative relationships with its partners and customers.
For more information, visit panderasystems.com
About Sunstone Partners
Sunstone Partners is a growth-oriented private equity firm that makes majority and minority investments in technology-enabled services and software businesses. Founded in 2015, the firm has over $1.7 billion committed to its three funds. Sunstone Partners has been recognized as one of Inc. magazine’s “Founder-Friendly Investors” list in 2020, 2021, and 2022.
For more information, visit sunstonepartners.com
About Solganick & Co.
Solganick & Co. Formed in 2009 by experienced investment banking professionals, Solganick is a data-driven independent investment bank and mergers and acquisitions (M&A) advisory firm that provides specialized industry-focused expertise in the software and tech-enabled services industry sectors. Solganick offers strategic and financial advisory and relationships within the software and tech-enabled services industry sectors, a deep knowledge within these sectors, and a premium team of experienced investment banking professionals. Our team assists companies and owners in completing mergers, sales, divestitures, spin-offs and acquisitions that are strategically and/or financially beneficial to your firm’s business model and transaction goals. Over $20 billion of transaction value has been completed by our transaction professionals.
For more information, visit solganick.com
About Elder Bray & Bankler
Elder Bray & Bankler, headquartered in San Antonio, TX has exclusively represented businesses, owners, investors and entrepreneurs as their trusted advisors in a variety of commercial and business transactions. We are a firm of accomplished corporate transaction lawyers, with our shareholders averaging over twenty years of experience. Our attorneys have a track record of serving as valued members on clients’ business teams in various industries and phases of development. Our clients include startup, growth, middle-market and Fortune 500 companies. Our firm is committed to the success and we strive to advance clients’ interests.
For more information, visit elderbray.com