TH Global Capital is pleased to announce that it has acted as the exclusive financial advisor to The Cloud People, one of the largest independent ServiceNow partners globally, with operations across the Nordics, Germany, Brazil, the U.S., Benelux, and Poland, on its strategic sale to NTT DATA Business Solutions, a subsidiary of NTT DATA, headquartered in Japan. This transaction marks TH Global Capital’s 10th ServiceNow transaction globally, spanning its 31st country, and represents a landmark deal in the Nordics, further solidifying its position as a leading investment bank in the ServiceNow space.
Founded in 2019 and headquartered in Oslo, Norway, The Cloud People has rapidly grown into a market-leading provider of end-to-end digital transformation services across the ServiceNow ecosystem. With 300+ ServiceNow experts and a 4.7/5 customer satisfaction score, the company supports 130+ enterprise clients across TMT, Financial Services, Retail, Energy, Manufacturing, and the Public Sector. The Cloud People delivers a comprehensive suite of advisory, implementation, migration, application development, and managed services, supported by its proprietary next-generation resource management engine and hyper-scalable business platform, and has established a strong international presence with offices across Norway, Denmark, Sweden, Finland, Poland, Germany, the Netherlands, Luxembourg, the US, and Brazil, making it the largest pure-play ServiceNow cloud services provider in Northern Europe.
The acquisition by NDBS will create a strengthened ServiceNow hub across Europe, significantly enhancing NTT DATA’s ability to serve large enterprise clients with a broader, more integrated portfolio of cloud transformation solutions. By combining The Cloud People’s deep ServiceNow expertise with NDBS’s SAP-focused capabilities, the group will form a modern, end-to-end cloud powerhouse, delivering a comprehensive suite of business-critical IT services.
“We are grateful for TH Global Capital’s work during the process of finding the right strategic investor for our growth project. Their deep understanding of the ServiceNow ecosystem enabled them to perform an exceptionally strong job in scanning the market to find the right match for our needs, tailored to our criteria. TH Global Capital followed the process from start to finish and was an effective advisor throughout all processes leading up to the closing.”, commented, Bjørn Jarl, CEO of The Cloud People.
Espen Stenumgård, Partner, Longship AS, said, “TH Global Capital brought strong insight into the ServiceNow ecosystem and a broad international buyer network to the transaction. Their understanding of The Cloud People and how to position the company with the right strategic partners was helpful in reaching relevant buyers. We appreciated their sector knowledge and global reach, and found the team constructive, collaborative and easy to work with throughout the process.”
Vivek Subramanyam, Founder & CEO of TH Global Capital, said, “We are delighted to have advised on another landmark transaction in the ServiceNow ecosystem, marking our 10th ServiceNow deal globally, in our 31st country. This deal underscores TH Global Capital’s deep expertise in the Digital Transformation, Cloud and ServiceNow space, and our strong track record of partnering with blue chip global strategic buyers and private equity funds. TCP has built a high quality ServiceNow practice, and its combination with NTT DATA creates a powerful platform for global cloud transformation. We wish The Cloud People and NTT DATA every success in this next phase of growth.”
Ryan Edelmann, Director at TH Global Capital, commented, “The Cloud People has built a highly differentiated ServiceNow pure-play platform with strong execution capabilities and a scalable international presence. The strategic fit with NTT DATA Business Solutions is compelling and creates a powerful opportunity to globally accelerate growth. It has been a pleasure working closely with Bjørn and Espen throughout the process, and we are pleased to have supported The Cloud People on this successful transaction while continuing to expand our leadership in the global ServiceNow M&A landscape.”
Andreas Forsman, Director at TH Global Capital, commented, “This transaction highlights TH Global Capital’s continued commitment to the Nordic region, marking our 4th completed deal and reinforcing our role as a trusted advisor to leading Nordic founders and private equity funds. Backed by Longship, The Cloud People has built a highly attractive ServiceNow platform, and by connecting Nordic businesses with cross-border strategic buyers and investors, we enable them to scale internationally through our global platform. We are proud to have supported The Cloud People and Longship on this important milestone.”