Wavestone Acquires Sand Cherry to Expand U.S. Presence

Wavestone, a consulting firm, has announced the acquisition of Sand Cherry, a Denver-based consulting company. This move is part of Wavestone's "Lead the shift" strategic plan focusing on North American expansion. Sand Cherry, founded in 2001, specializes in enterprise transformation and has built a solid client base among Fortune 200 companies, particularly in Telecom, Energy, and Media sectors.

Sand Cherry's team of 130 employees, recognized for its strong workplace culture, is projected to achieve $31.5 million in revenue by 2026. The acquisition will increase Wavestone’s North American revenues to approximately $120 million, expanding its workforce to 370 employees.

The financial terms include an initial purchase of $35 million and a potential additional $12 million based on Sand Cherry’s future performance. The acquisition aims to leverage Sand Cherry's client relationships and Wavestone's technology expertise to boost their transformation consulting capabilities.