The firm that offers to buy your Oracle consultancy is probably buying its first. We have tracked 115 acquisitions of Oracle partners between 2015 and 2025, and 69 of them went to a buyer that shows up exactly once in eleven years. Fourteen firms came back for a second. Two came back more than five times.
That makes the record below a description of this market and a thin basis for predicting any single sale. It is worth reading anyway, because the kinds of buyer repeat even as the names turn over. In the lifecycle our partner ecosystem research maps, this is a mature market: the buying is for fit, and the sponsors build services platforms rather than Oracle-pure ones.
The Most Active Acquirers
Fourteen families bought more than once; the table ranks them with the deals they hold today.
| # | Family | 2015-19 | 2020-22 | 2023-25 | Total (own / inherited) | Type and ownership |
|---|---|---|---|---|---|---|
| 1 |  IBM Consulting |
0 | 3 | 5 | 8 (2 / 6) | Global integrator; listed (NYSE: IBM) |
| 2 |  Accenture |
3 | 3 | 0 | 6 (5 / 1) | Global integrator; listed (NYSE: ACN) |
| 3 |  Version 1 |
4 | 0 | 1 | 5 (5 / 0) | Irish Oracle and Microsoft partner; Partners Group majority since July 2022 |
| 4 | Apps Associates | 1 | 2 | 0 | 3 (3 / 0) | US Oracle and multi-cloud consultancy; Quad-C Management majority since July 2021 |
| 4 | Alithya | 3 | 0 | 0 | 3 (3 / 0) | Canadian Oracle EPM and Microsoft consultancy; listed (TSX and NASDAQ: ALYA) |
| 4 |  Deloitte |
0 | 2 | 1 | 3 (3 / 0) | Big Four; partnership |
| 4 |  Mastek |
1 | 2 | 0 | 3 (3 / 0) | Indian IT services group; listed (NSE and BSE) |
| 4 |  Mythics |
1 | 0 | 2 | 3 (1 / 2) | US Oracle public-sector reseller and integrator; One Equity Partners since 2023 |
| 9 | Buchanan Technologies | 0 | 2 | 0 | 2 (2 / 0) | US IT services and managed services firm; founder-owned |
| 9 | Centroid Systems | 0 | 0 | 2 | 2 (2 / 0) | US Oracle EPM and cloud firm; Gridiron Capital since July 2026, VSS before that |
| 9 | Data Intensity | 2 | 0 | 0 | 2 (2 / 0) | Oracle application managed services; EQT since August 2017 |
| 9 |  Huron Consulting |
2 | 0 | 0 | 2 (2 / 0) | US consultancy; listed (NASDAQ: HURN) |
| 9 |  KPMG |
1 | 1 | 0 | 2 (2 / 0) | Big Four; partnership |
| 9 | Syntax | 2 | 0 | 0 | 2 (2 / 0) | Canadian Oracle and SAP managed services group; Novacap |
Nine of the fourteen last bought before 2023. And the totals overstate even those, because the own and inherited columns are doing different jobs: six of IBM’s eight came with two companies it bought whole, so only two were deals IBM went out and did. Accenture did five itself and inherited one. Version 1 did all five. Strip out the inherited deals and the number of firms that have gone looking for an Oracle consultancy since 2023 is very small indeed.
The Five Kinds of Buyer
Two of the five account for most of the repeat buying. The rest buy in ones and twos, years apart.
Global Integrators
IBM and Accenture hold 14 deals between them and are the only two that built a real position. They buy countries and whole companies: Accenture entered three national Oracle Cloud markets in a single year, and IBM took two platforms that private equity had already assembled, which is where six of its eight came from. Select transactions include the following:
- Accenture bought Certus Solutions, an Oracle Cloud consultancy in Britain (2018)
- Accenture bought DAZ Systems in the United States (2018)
- Accenture bought PrimeQ, an Oracle Cloud partner in Australia (2018)
- Accenture bought Cloudworks and AppsPro (2021)
- IBM bought Accelalpha from Century Park Capital Partners, completing in November 2024
- IBM bought Applications Software Technology from Recognize Partners, completing in March 2025
Sponsor-Backed Platforms
The other repeat buyers were spending someone else’s money. Version 1, Apps Associates, Mythics, Syntax, Data Intensity and Centroid Systems hold 17 deals between them, with a fund behind every one. Three are Oracle houses and three carry Oracle as one line among several, which is the point: the fund is underwriting a services roll-up rather than an Oracle-pure one, and lets the product label follow the customers. That is why these are the buyers who come back, filling in a map one country, product line or annuity book at a time, and why they are the ones most likely to offer equity in the platform, with a second payment at the platform’s own exit. Select transactions include the following:
- Version 1, an Oracle and Microsoft partner, bought Cedar (2018) and Qubix (2023)
- Apps Associates, which has been adding AWS and Salesforce work alongside Oracle, bought SmartDog Services (2019), Strafford Technology (2020) and AEI Worldwide (2022)
- Data Intensity, which runs Oracle applications for its clients, bought Red Stack Tech and Inatech’s Enrich business (2016)
- Syntax, an Oracle and SAP house, bought Core Services (2017) and EmeraldCube (2019)
- Centroid Systems, built on Oracle EPM and cloud work, bought EPM Intelligence (2023) and Qbit (2024)
- Mythics, which resells Oracle into the American public sector, added Smart ERP Solutions and with it two earlier deals (2025)
The Big Four
Deloitte and KPMG have five deals between them. Neither has a group M&A function you can approach: the money, the mandate and the approval all sit inside one country’s partnership, so a relationship with one member firm does not carry to another. A partnership also pays cash at completion rather than equity in the buyer, which removes the second payment the sponsor-backed platforms can offer. Select transactions include the following:
- Deloitte bought Ekulus (2020)
- Deloitte bought BIAS Corporation, an Oracle Cloud partner in the United States (2021)
- Deloitte bought SimplrOps (2025)
- KPMG bought ToMont in Canada (2017)
- KPMG bought Certus’s Asia-Pacific business in Australia (2021)
Diversified IT and Consulting Groups
Alithya, Mastek, Huron Consulting and Buchanan Technologies bought ten businesses between them. Each is a generalist that bought its way into one specific Oracle line rather than the whole stack, which narrows the fit test to whether your line is the one they are short of. Three of the four are listed. Buchanan is founder-owned, so a sale there is a trade sale into a private group and the money stops at completion. Select transactions include the following:
- Alithya went after Oracle EPM and Hyperion: M2Dynamics for $22.7M (2015) and Travercent, an Oracle Cloud healthcare specialist (2019)
- Mastek went after Oracle Cloud applications: TAISTech (2017) and Evosys, an Oracle Platinum partner (2020)
- Huron went after EPM and analytics: Rittman Mead India (2015) and ADI Strategies (2016)
- Buchanan Technologies went after Oracle support books run as service lines: Cybernoor (2021) and Infosenseglobal’s Oracle line (2022)
Single-Deal Buyers
Those four kinds account for 46 of the 115 deals. The remaining 69 belong to firms that bought once and went quiet: product vendors after a product, regional IT firms after a country, a German database specialist, an Italian systems house, a Dutch JD Edwards shop. Each needed one capability, once, and they sit well beyond the reach of your own contact list. Your buyer is most likely in this group.
Private Equity in the Oracle Market
Fifty of the 115 deals carry a private equity fingerprint, and in 30 of them the fund financed the firm buying you. That decides the shape of what you are offered, because the terms come out of a capital structure that stays out of the room. It matters again if part of your price is equity in the buyer: your second payment then depends on who buys that platform next, and these platforms move. Version 1 has changed hands twice, Apps Associates once, and AST twice before it ended up inside IBM.
Deal Volume and Geography
The market peaked three times at 15 deals, in 2017, 2020 and 2021, and has run at 6 to 8 a year since 2023. Over the same stretch the share of deals with a fund behind the buyer climbed from 31 percent to 53 percent. Five more changes of control closed in the first half of 2026 against six in all of 2025.
The buying clusters in three countries, and the chart shows how steep the gradient is: the United States, the United Kingdom and Canada take three of every four targets between them, and the whole of Continental Europe combined is a smaller market than Britain alone. If you are selling in Continental Europe, your buyer pool is therefore mostly foreign, and mostly made up of firms buying in your country for the first time.
What Oracle Consultancies Sell For
Eighteen of the 115 deals put a number in public, and the median deal size across them is about $22M. Four of the eighteen reported a revenue multiple, with a median of 1.3x. Both are thin samples.
The broader benchmark points the same way. 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, within a million of the Oracle sample’s own median. Where you sit inside that range comes down to how much of your revenue is contracted work, your EBITDA margin, how much sits in your top three accounts, your current Oracle Expertise designations, your delivery mix, and any resale margin you carry.
Who Buys Next
The record above describes buying that has already happened. Who buys next is our judgment rather than a projection of that record, and it rests on four signals: the pace of a buyer’s recent deals, the date its sponsor invested, the plans it has stated, and the capabilities it still lacks.
Seven buyers show those signals in mid-2026.
| Buyer | Why next | What they would buy |
|---|---|---|
| Argano | Three Oracle-line purchases in 2026, Denovo Ventures and American Process Management among them | JD Edwards, Primavera and Oracle Cloud services firms |
| Peloton Consulting | Sunstone invested in May 2026, a month after the Camptra purchase | Oracle Cloud ERP, HCM and EPM consultancies |
| Centroid Systems | Gridiron Capital owner since July 2026, with add-ons expected | Oracle EPM and cloud infrastructure firms |
| Redfaire International | Added Fusion Cloud work to its JD Edwards base with eKal in 2026 | Fusion Cloud consultancies |
| Inoapps | Added KS2 Technologies in June 2026, its second US purchase | Oracle Cloud consultancies in the United States and Britain |
| Mythics | One Equity Partners owner since 2023, with a 2025 add-on in SpearMC | PeopleSoft and public-sector Oracle businesses |
| Accenture | Returned in 2024 with Flo Group, an Oracle supply-chain firm that sits outside our counted set | National Oracle Cloud consultancies |
The list is up to date as of the time of writing.
What This Means for Sellers
Set the buyer types, the cadence and the pricing record side by side and the same conclusion falls out of all three. The firms with a track record are few. Most of them have been quiet since 2022. And nearly three quarters of everything ever bought in this market was bought by a firm doing it for the first time.
Taken together, that means a shortlist drawn from historic acquirers will miss most of the likely buyers. It describes the kinds of firm that buy and the reasons they give, which is useful the day one arrives. It is a weaker guide to which firm will arrive, or what it will pay, since on this record the likeliest buyer has yet to make its first Oracle acquisition and will consider one only once the idea reaches it.
Thinking about selling your Oracle consultancy? The buyer pool here is hard to see from the inside: 69 of the families that bought did so once, prices stay private on most transactions, and the sponsor behind a platform is often the party that decides what it can pay. We track this market deal by deal.
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 on an Oracle product line. NetSuite-only firms, Oracle’s own product acquisitions and minority investments sit outside it. Where one buyer later bought another, the earlier deals count under today’s owner. A deal counts toward the private equity figures only when the record names the fund behind the buyer, which it does on about 40 percent of deals. Where the record is silent the deal counts as unsponsored, even when a fund was in fact behind the buyer, so the true private equity share runs higher than the figures on this page. Sixteen of the 115 targets also appear in our SAP, Salesforce, Azure and AWS research, so those counts overlap by design. The Oracle medians rest on 18 disclosed values and four reported multiples, and we publish them with that sample stated. 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 IT services valuation multiples, systems integration valuation multiples, who is buying IT consulting firms and who is buying systems integrators, on how software partner ecosystems consolidate, and on how to sell an IT services business. Get in touch to discuss your own situation.
