Enables Datum's employees and management to accelerate personal and business growth opportunities within Alithya.Allows Alithya to capitalize on the current fundamental digital transformation needs expressed by large insurance and financial services companies worldwide.Enhances Alithya's recurring revenue profile given focus on higher margin, proprietary, cloud-based SaaS and software product offerings, in an industry going through significant digital transformation and modernization.Enables Alithya to deepen its insurance industry expertise with proprietary modernization systems.Please refer to the "Non-IFRS Measures" section at the end of this press release. We are well positioned to take advantage of this context for the benefit of our clients as part of the Alithya community."įor the twelve-month period ended December 31, 2021, Datum generated revenues of approximately US$18.0 million ( C$22.7 million) and Adjusted EBITDA (1) of approximately US$6.0 million ( C$7.6 million). ![]() Those investments took on new urgency as the pandemic forced businesses to abruptly shift to digital operations. Long before the COVID-19 pandemic, insurers were investing in digital transformation spurred by the rise of startups. Furthermore, the global InsurTech market is expected to grow US$1.8 billion annually to US$22.1 billion between 20 as per Grandview Research. Our team brings two-sided expertise encompassing cloud and decentralized platforms, as well as current low code platforms such as PEGA and modern cloud platforms (GCP and Azure). Our new business unit will contribute to the strategic global expansion by Alithya currently under way, and the synergies will allow our clients to benefit from years of R&D and co-development with insurers of our suite of 14 proprietary products, now implemented throughout our customer base. "I am thrilled for Datum to be joining Alithya, a growing world-class organization. Amar Bukkasagaram, President and Founder, Datum: ![]() Datum employs over 150 professionals and supports its global clients from the United States, Europe, India and Australia. The Company services the world's foremost insurers including 6 of US' top 10 health insurers.įounded in 2004 and headquartered in Indianapolis, the Company specializes in application modernisation and data migration with the use of leading-edge software and services focused on information capture, content management and application and rules modernization. (TSX: ALYA) (NASDAQ: ALYA) ("Alithya") is pleased to announce that it has entered into a binding agreement to acquire US-based Datum Consulting Group, LLC and its affiliates ("Datum" or "the Company") for a purchase price of up to US$45.5 million ( C$57.5 million), including potential earn-out considerations of up to US$13.0 million ( C$16.4 million).ĭatum is a leader in IP enabled digital transformation services for data rich insurers and other regulated entities such as state governments. MONTREAL, J/PRNewswire/ - Alithya Group inc. High-value insurance-focused intellectual property portfolio
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