Gryphon Investors Takes Majority Stake in IT Provider Highmetric
Gryphon Investors, a middle-market private equity firm, has acquired a majority stake in the
ServiceNow division of
Highmetric, a global digital IT services provider, from
The Acacia Group, which has retained a minority investment in the company. The standalone ServiceNow business will continue to be known as Highmetric, while the non-ServiceNow divisions have been rebranded as
MajorKey Technologies and will continue to be backed by The Acacia Group.
Gryphon also announced its first two additions to the Highmetric family, with definitive agreements to acquire
Fishbone Analytics, Inc. and
Iceberg Networks.
Gabe Stephenson, managing director at Gryphon said, “Gryphon is extremely excited to be partnering with the talented teams at Highmetric, Fishbone, and Iceberg. We have a well-developed thesis around the power of ServiceNow to optimize digital transformation workflows and believe that these are the best three businesses for us to initially invest behind to create a differentiated market leader in this space.” Alex Earls, Deal Partner and Head of Gryphon’s Business Services Group, added, “This investment is a strong match with our past track record and we are looking forward to supporting management to rapidly scale the business organically and through additional strategic acquisitions.”