Software testing firm Qualitest buys Chicago firm to expand reach
Acquisition will give Israeli firm foothold in quality assurance for utilities; this is third aquisition for Petah Tikva-based firm this year
Shoshanna Solomon was The Times of Israel's Startups and Business reporter
Qualitest Ltd., an Israel-based software testing and quality assurance company, said Monday it has acquired Chicago-based Olenick & Associates.
The combination of the two firms will boost the Israeli company’s quality assurance foothold in the utilities space and expand its presence with three new offices in Chicago, Buenos Aires and Northern Ireland. The deal marks the Petah-Tikva, Israel-based firm’s third acquisition this year. Financial terms of the deal were not disclosed.
Earlier this month Qualitest said it acquired Israel-based Comply, a provider of software testing services to the pharma and digital health market. In February, the company said it was buying QA InfoTech, an Indian quality assurance firm.
Norm Merritt, the CEO of Qualitest, said last year in an interview that the firm hopes to grow sales fivefold within five years, through organic growth and via acquisitions.
Over the past 22 years, Olenick & Associates has become a global player in software quality engineering practices, with a focus on the utilities, legal and financial services sectors. The firm has more than 250 consultants, expanding Qualitest’s already existing offices in the UK, US, Israel, India and Romania. Olenick’s focus enhances Qualitest’s existing experience and comprehensive solutions for these industries, the statement said.
In December 2019, Qualitest said it acquired Israel-based artificial intelligence and machine learning company AlgoTrace for an undisclosed amount.
Qualitest serves over 250 blue-chip customers worldwide. International private equity group Bridgepoint Advisers Ltd. in 2019 acquired a controlling stake in Qualitest for $420 million from Marlin Equity Partners.
