Drake Star Advises Xerris on the Majority Investment from Accolite Digital
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Year
February/2022
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Sector
Digital Transformation Digital Services
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Our Mission
Drake Star Acts as Exclusive Advisor to Xerris
NEW YORK | February 17th, 2022 – Xerris, a Canadian cloud and software development services provider, announced that Accolite Digital, a leader in cloud and digital product engineering services, has made a majority investment in the company.
Drake Star acted as the exclusive financial advisor to Xerris on the transaction.
Founded in 2019 and headquartered in Calgary, AB, Xerris is a leader in digital transformation providing custom cloud technology, microservices, application development, migration, data & analytics, and AI expertise with partnerships across AWS, Azure, GCP, HashiCorp, and Snowflake. Known for its innovative business model and a remote-first work environment, Xerris has experienced a 300% annualized growth rate over the past three years, with over 100 staff and serving over 40 clients across Canada and the United States.
“Accolite Digital is a great fit for Xerris. With the same emphasis on culture for their employees and focus on solving clients’ complex digital challenges, Accolite will support Xerris’ needs as we continue to grow, build our services, and explore new sectors,” said Jeremy Tooley, co-founder and CEO of Xerris. “Xerris will remain headquartered in Calgary and continue to invest in Canadian talent to support our clients to provide the local service that Xerris prides itself on.”
Jeremy Tooley continued: "Jeff and the Drake Star team were exceptional partners. They were able to guide us through the complex diligence cycle and their expertise was crucial to the success of our deal."
"We are excited to partner with Xerris and welcome its team of technologists to Accolite. Together, we will sharpen our Cloud offerings as we aspire to be the world’s preferred digital engineering services provider and scale revenue 5X by 2025,” said Leela Kaza, founder and CEO of Accolite. "Xerris’ proven track record with large North American clients and access to an extensive pool of digital talent in Canada will further expand our global delivery capabilities to drive better outcomes for all of our clients.”
Combined, Xerris and Accolite Digital will have over $100 million in revenue and over 2,600 employees across North America, Europe, and India.
Inquiries
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About Xerris
Xerris is a Calgary-based, remote cloud technology services company providing Application Modernization, DevOps, Kubernetes, Cloud Strategy, Migration, and Data & Analytics services to clients across North America. Xerris meets clients in their digital journey, and focuses on trust, outcomes, and value while crafting solutions to address complex business challenges.
For more information, please visit www.xerris.com
About Accolite Digital
Accolite Digital is a leading digital transformation services provider that delivers design-driven, digital transformation initiatives to Fortune 500 clients. Accolite provides these services to banking and financial services, insurance, technology, media and telecom, healthcare, and logistics industries. With more than 2,500 professionals globally, Accolite has a presence across the United States, Canada, Mexico, Europe, and India.
For more information, please visit www.accolite.com
About Drake Star
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