Three technology talent solution businesses have joined forces in a merger that will create a £100m revenue global business with over 650 technology, engineering & digital consultants on client sites and 220 internal employees across nine global offices.
The merger of Xcede, TechStream and Etonwood has been funded by private equity firm Universal Partners and Investec Bank.
Headed by TechStream founder, Paul Beeke; with Xcede CEO, William Jacques, as Chief Operating Officer, the newly formed group will be headquartered in London. All three companies will share a group parent company branded as the TechStream Group.
Jacques said, “This merger brings together three specialist technology talent solution companies to form a much larger global offering focused on emerging technologies.
“By joining the businesses, we will expand our service into the US, Asia and MEA markets, whilst expanding our European operations.”
The group will operate across its current global office network in London, New York, Berlin, Hamburg, Munich, Singapore, Malaga and Cape Town. Operationally, each brand will remain highly specialised in its own field with a clear focus on new and emergent technology, covering cloud transformation, digital transformation, cybersecurity, data analytics, automation, IoT, RPA, embedded tech, CleanTech and GridTech.
Since 2003, Xcede has delivered talent solutions for some of the most innovative and successful companies across the creative, technology, marketing and data sectors. In 2018, Xcede was awarded a place on the Virgin Atlantic Fast Track 100 table. Xcede has also been recognised as a great place to work, achieving inclusion in the Sunday Times Best 100 Companies list in 2018 and 2019.
Founded in 2017 by Paul Beeke, TechStream is a human capital business. TechStream consists of four portfolio brands each focusing on unique technology streams: CloudStream, EarthStream, AutoStream and CyberStream. The organisation employs over 130 internal sales delivery consultants and support staff with over 300 technology, engineering & digital consultants on client sites.
Beeke commented, “I am delighted for TechStream to be joining forces with Xcede, Etonwood, Universal Partners and Investec to create a much larger, diversified global technology talent solutions business.
“This provides the platform, scale and funding to realise our future global growth ambitions and to drive our individual specialist brands in all the global regions we operate in.”
Etonwood specialises in cloud & infrastructure technology talent solutions and works closely with financial services companies, technology consultancies and service management automation specialists which includes the rapidly growing ServiceNow market.
Etonwood managing director, Andrew Murton, said, “The knowledge, experience and expertise that exists across the group will ensure each of our businesses maintains its position as a leader in its field and maximises the opportunities that exist for growth in this fast-moving sector.”