West Monroe Partners purchased Etherios for US$9 million in cash payable US$4 million at closing, US$3 million on the first anniversary of closing and US$2 million on the second anniversary of closing.
The divestiture of Etherios allows Digi International, the parent company, and a global provider of mission-critical machine-to-machine (M2M) and Internet of Things (IoT) connectivity products and services, to improve its focus on providing highly reliable machine connectivity solutions for business-critical and mission-critical application environments.
Etherios employees in Chicago, San Francisco, and Dallas joined West Monroe Partners’ existing CRM practice effective October 26, 2015, creating a team of more than 125 professionals across the United States focused on conceiving and delivering transformational CRM solutions. The acquisition expands West Monroe Partners’ US network to 10 locations across the country with the addition of offices in San Francisco, California, and Dallas, Texas.
“Customer relationship management solutions provide the data backbone for delivering a great customer experience that can drive business growth and success,” said Douglas Armstrong, Managing Director of West Monroe Partners’ Chicago office.
“Etherios brings outstanding technical talent and industry experience that complements our own growing CRM practice and substantially expands the expertise and resources we can offer our clients.”
Meanwhile, Ron Konezny, President and CEO, Digi International, said, “This is a positive move by both companies. West Monroe gains an award-winning consultancy recognized for its Salesforce-specific expertise, while Digi reinforces its focus on the market opportunity for M2M and Internet of Things connectivity solutions.”
