The Google Cloud partner market is the youngest we cover, and it is still being assembled. We tracked 55 acquisitions of Google Cloud partners between 2015 and 2025, with sustained volume only from 2019. Funds are entering at the same rate their platforms buy founders, 13 platform buyouts against 13 tuck-ins, and the two transactions that moved this market most, SADA to Insight Enterprises and Niveus to NTT DATA, both came from buyers making their first Google Cloud purchase. It is also the market our partner ecosystem lifecycle places earliest, still crossing from crowd to gate, which is why platforms are being assembled here rather than sold.
Five kinds of firm do the buying.
The Most Active Acquirers
The table ranks every family that bought more than once, with the 37 single-deal families on the last row.
| # | Family | Deals | Active window | Since 2023 | Type and ownership |
|---|---|---|---|---|---|
| 1 |  Qodea, formerly CTS and Appsbroker, renamed Beyond in April 2026 |
4 | 2018-2025 | 3 | British Google-first partner; Marlin Equity Partners majority since January 2023 |
| 1 |  Devoteam |
4 | 2019-2021 | 0 | French European IT integrator; about 90 percent held by Castillon, the bidco owned jointly by KKR and the de Bentzmann founders, private since Q4 2021 |
| 3 |  Accenture |
3 | 2015-2021 | 0 | Global integrator; listed (NYSE: ACN) |
| 3 |  66degrees, formerly Cloudbakers and Qwinix |
3 | 2020-2022 | 0 | United States Google Cloud partner, Chicago; backed by Sunstone Partners |
| 5 | Datatonic | 2 | 2023-2025 | 2 | British data and machine learning consultancy; backed by Perwyn since March 2023 |
| 5 |  SoftwareOne, including Crayon |
2 | 2021-2025 | 1 | Swiss software and cloud reseller; listed (SIX Swiss: SWON) |
| 7 | 37 families with one deal each | 1 |
The recent activity concentrates in two names: Qodea made three purchases since 2023 and Datatonic two, while the rest of the table has been still. Seven buyers entered or re-entered in the last three years, five of them carrying a fund, which is the same assembly pattern the buyout column shows.
The Five Kinds of Buyer
The Serial Acquirers
Six families bought more than once, holding 18 of the 55 deals: Qodea and Devoteam at four, 66degrees and Accenture at three, and Datatonic and SoftwareOne at two. Qodea is the one true consolidator, a British Google-first house under Marlin Equity that made three of its four purchases since 2023. Select transactions include the following:
- CTS, later renamed Qodea, bought Qlouder in the Netherlands (2018)
- CTS and Appsbroker merged under Marlin Equity to form Qodea (2023)
- Qodea bought TMC3, a Google Cloud security specialist in Britain (2024)
- Devoteam bought Fourcast in Belgium and Nubalia in Iberia (2021)
- 66degrees, formed from Cloudbakers, bought Qwinix (2021) and merged with Pandera Systems (2022)
- Datatonic bought Montreal Analytics (2023) and Syntio in Croatia (2025)
Datatonic, a data and machine learning specialist under Perwyn, is the other live buyer. Devoteam, Accenture and 66degrees have been quiet since 2021 or 2022, and Devoteam’s fourth announcement, g-company in 2019, lapsed before completion.
Funds Buying Platforms Directly
Thirteen different funds bought a platform outright, one each, from NorthEdge’s 2018 buyout of CTS to Saari Partners’ 2024 purchase of Codento. Every one is a first institutional deal on the asset: the funds are still choosing their platforms, and the extending comes later. Select transactions include the following:
- NorthEdge Capital backed the management buyout of CTS (2018)
- Sunstone Partners bought Cloudbakers, the platform that became 66degrees (2020)
- Recognize Partners invested in SpringML (2021)
- Marlin Equity Partners took majority control of CTS from NorthEdge (2023)
- Perwyn backed Datatonic (2023)
- Saari Partners bought Codento in Finland (2024)
Integrators and IT Majors
Cognizant, Wipro, Atos, NTT DATA and Persistent Systems bought once each, and Accenture three times. Google Cloud is one alliance among many at all six, and the two biggest commitments came late: NTT DATA folded about 1,000 Niveus professionals into a dedicated Google Cloud unit in 2024.
Listed Resellers
Insight Enterprises and SoftwareOne bought premium Google Cloud consulting to sit on large transactional resale books. Insight’s purchase of SADA carries the largest headline value in this market. Select transactions include the following:
- Insight Enterprises bought SADA Systems, a six-time Google Cloud Partner of the Year holding ten specializations (2023)
- SoftwareOne bought Intelligence Partner in Iberia, and added Crayon’s Google practice on completion in 2025
Adjacent and Single-Deal Buyers
Select transactions include the following:
- NTT DATA bought Niveus Solutions, folding 1,000 Google Cloud professionals into its Google Cloud unit (2024)
- Onix bought Datametica, Google Cloud Data Analytics Partner of the Year (2023)
- Egen bought SpringML, with the combined company trading as Egen (2023)
- Codento bought Intelligence AS in Oslo, its entry into Norway (2025)
The rest of the market is 37 families that bought once, and it is the most varied crowd in our coverage: a Japanese trading house, an AWS specialist diversifying, an advertising group buying Looker capability, a Canadian telecom. Each needed one capability once. Your buyer is most likely in this group, and probably beyond any list built from past deals.
Private Equity in the Google Cloud Market
Private equity enters this market by two routes.
Half of all private equity activity here is still the first institutional transaction on an asset: the 26 deals on a private equity route split evenly, 13 platform buyouts against 13 platform tuck-ins.
Deal Volume and Geography
The market barely existed before 2019: five deals in the first four years.
Sustained volume begins in 2019, peaks at 13 deals in 2021, and runs a second wave of 9 in 2023.
Geography sets this market apart in our series.
Europe leads this market, taking more targets than the United States, with the United Kingdom and the Netherlands the strongest European markets.
What Google Cloud Partners Sell For
Seven of the 55 deals put a number in public, and they are the giants, so public transaction data is close to useless for benchmarking a mid-market Google Cloud firm: the median disclosed value is $248M because only the largest deals disclose. The largest is Insight’s purchase of SADA, at $410M paid at close plus up to $390M contingent; the close payment sits below the $500M Wipro paid for Appirio. Three deals carried a revenue multiple, too few to publish as a benchmark. For a working range, our IT services valuation multiples research covers 1,051 deals at a median of 1.1x revenue and 10.4x EBITDA, on a median deal size of about $21M.
Two different businesses trade under the Google Cloud partner label, and they price on different logic. A data, analytics and machine learning consultancy on BigQuery, Looker and Vertex AI reads against our data and analytics valuation multiples research at 2.3x revenue and 14.9x EBITDA. A cloud infrastructure or Workspace resale book reads against our cloud services valuation multiples research at 1.9x and 8.8x. The largest firms here sold both under one roof, so establish your own split between resale margin and delivered consulting before you read any comparable. Margin, concentration, your Partner Advantage specializations and delivery mix move you inside the range from there.
Who Buys Next
The buyers most likely to make the next Google Cloud partner acquisition are the platforms whose funds have started extending and the majors that still carry a Google Cloud gap. This list is our judgment, and it rests on four signals: how recently a buyer bought, when its sponsor entered, what capability the buyer still lacks, and the record that this market’s defining deals came from first-time entrants.
The table names the firms those signals point to today.
| Buyer | Why next | What they would buy |
|---|---|---|
| Beyond, formerly Qodea | Trade press reported a half-dozen acquisitions lined up before the April 2026 rename | Google-first consultancies that extend its European base |
| Codento | Saari Partners has funded two additions, Intelligence AS in November 2025 and Data Edge in 2026 | Nordic Google Cloud consultancies |
| NTT DATA | It folded Niveus into a dedicated Google Cloud unit and has the scale to repeat the move | Google Cloud pure-plays in new regions |
| Onix | Tailwind-backed and buying again, with the UJET services unit in July 2025 | Google-centered AI and contact-center services teams |
| Cloudnyx | Seroda Ventures built it on Evonence in August 2025 and a platform entry points to additions | US Google Cloud consultancies that add scale |
| Telana | Beech Tree formed it from Ancoris and Sundown in 2025 to build across Google and AWS | UK consultancies on either cloud |
| A first-time entrant among the majors | Insight entered with SADA and NTT DATA with Niveus, and the largest deals keep coming from first-timers | A premium partner that closes a Google Cloud gap in one purchase |
The list is up to date as of the time of writing.
What This Means for Sellers
This market is being assembled in real time, and the two deals that defined it came from buyers on their first purchase. The reason they buy rather than build is the same in every case: certified data and AI talent is scarce, and a partner arrives with the customer relationships attached. The serial acquirers are two live names, the funds are still choosing platforms, and the largest group of buyers is a varied crowd that engages once an idea reaches it. A seller’s buyer list here is short if drawn from history and long if built from the firms with a reason to enter. Finding those firms is the work. Offers that do arrive tend to arrive structured: the two disclosed structures in this market carried 49 and 26 percent of headline value as contingent payments.
Thinking about selling your Google Cloud business? This market is still being assembled, and the two bids that defined it came from first-time buyers: 37 of the 43 families in our records bought once, and prices stay private on 87 percent of transactions.
Get in touch to discuss what your business could be worth and how a process would run. Our guide to selling an IT services business sets out the steps.
Method and Sources
The figures come from our own deal database, built on Mergermarket and extended by our verification, covering acquisitions announced between 2015 and 2025 of businesses built primarily on Google Cloud Platform or Google Workspace. Google Marketing Platform firms, Google’s own acquisitions, and minority stakes sit outside it. Everything on this page computes on one set of 55 deals: a classified floor of 33 distinct events plus 22 added by hand, a large uplift because Mergermarket describes most Google partners generically. Where one buyer later bought another, the earlier deals count under today’s owner, gated on completion.
A deal counts toward the private equity figures only when the record names the fund, which it does on about 47 percent of deals, so the true share runs higher; a leak test on financing language finds three further sponsor-financed purchases. Four of the thirteen platform entries rest on undisclosed stakes, and the split stays close to even on any reading. Several deals here also appear in our other platform research, so counts overlap by design. The Google Cloud medians rest on 7 disclosed values and three revenue multiples, samples we state plainly. The Who Buys Next section is our judgment from the signals named there, not a count from the database, and it is up to date as of the time of writing.
About Aventis Advisors
Aventis Advisors is an M&A advisor for technology and IT services companies. We believe the world would be better off with fewer but better quality M&A deals, done at the right moment for the company and its owners. We publish our own research on data and analytics valuation multiples, cloud services valuation multiples, IT services valuation multiples, who is buying cloud services providers, who is buying data and analytics firms and who is buying MSPs, on how software partner ecosystems consolidate, and on how to sell an IT services business. Get in touch to discuss your own situation.
