Bowstring Advises itelligence in its Acquisition of Aster Group
November 5, 2013 | Atlanta, GA
Bowstring Advisors (“Bowstring”) served as the financial advisor to itelligence, Inc. (“itelligence”), in its recent acquisition of Aster Group, a business technology consultancy specializing in dedicated Enterprise Performance Management (EPM) and Business Intelligence solutions. Headquartered in Concord, N.C., Aster Group is a premier North American provider of SAP® Business Planning and Consolidation (BPC) applications and one of the most experienced EPM-focused solution providers of all SAP partners.
“Aster Group has a great brand name and has been growing very well, particularly because of their success in implementing SAP BPC applications for multiple industry segments,” said Steve Niesman, president and CEO, itelligence North America. “The focused acquisition of Aster will immediately enable itelligence to strengthen its competitive market position in the SAP EPM space through an expanded, dedicated global practice that joins our complementary capabilities and increases our high-growth cross-selling opportunities.”
Norbert Rotter, CFO, itelligence AG, added, “With this strategic acquisition, we are further strengthening our business in the U.S. and expanding our market presence both regionally and globally in strong-performing SAP areas. By adding Aster Group’s significant BPC experience and footprint, itelligence’s full SAP value proposition really comes together for CFOs, CIOs and all customers through end-to-end business visibility, from integrated planning to execution and consolidated reporting.”
An NTT Data company, itelligence provides global scale and reach through country-specific localization enabled by full-service SAP solution delivery capabilities, including BPC, in five world regions and more than 22 countries. itelligence’s comprehensive offerings will deliver BPC Cloud packages that bundle software, maintenance, implementation, hosting and ongoing application management as a subscription-based managed cloud service.
“itelligence‘s and Aster‘s cultures are both client-centric, and solution focused,” said Rick Cobb, President and CEO, Aster Group. “By joining the itelligence family, we complement our experienced EPM professionals to offer a holistic end-to-end solution around SAP BPC.”
By offering pre-packaged, fixed scope and cost, BPC consolidation and planning rapid deployment solutions, itelligence will enable mid-market enterprises with ready-to-run solutions, while accelerating projects with reduced cost and risk for larger enterprises. Aster Group developed a SAP capital planning starter kit for BPC and recently announced a BPC Starter Kit for the oil and gas industry. Additional BPC starter kits are planned for other key industries.
Don Holbrook, Director of Bowstring Advisors, commented, “itelligence’s acquisition of Aster will bring together two leading companies in the SAP consulting space. The addition of Aster’s client base, BPC talent and management team will further enhance itelligence’s strong position in the SAP market .”
itelligence, Inc.’s purchase of Aster Group, Inc., was effective November 1, 2013.
itelligence‘s and Aster‘s cultures are both client-centric, and solution focused. By joining the itelligence family, we complement our experienced EPM professionals to offer a holistic end-to-end solution around SAP BPC.
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