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ServiceNow Channel Play: Highmetric Acquires NewRocket

‘Gryphon Investors had a strategy to grow a great ServiceNow ecosystem partner company specializing in creative solutions. I bought into what they planned. The truth is, there’s a great growth opportunity in the ServiceNow ecosystem. We realized the opportunity to grow something special,’ says Matt Stoyka, Highmetric CEO.

ServiceNow channel partner Highmetric has acquired fellow ServiceNow ecosystem company NewRocket.

Highmetric is a ServiceNow Elite-level partner focused on delivering complete solution sets to clients including ServiceNow’s digital workforce and automation capabilities with a focus on customer service, human resources, governance, risk, and security operations, said Matt Stoyka (pictured), CEO of the Chicago-based solution provider.

Highmetric is the former ServiceNow division of a larger solution provider called Highmetric. It was acquired in late May by Gryphon Investors, a San Francisco-based private equity firm, and kept the Highmetric name, with the rest of the Highmetric business rebranded as MajorKey Technologies.

[Related: These Were ServiceNow’s Top 6 Highest Compensated Executives In 2020]

Gryphon at the same time also acquired Fishbone Analytics and Iceberg Networks and combined them with Highmetric to create what it called the largest pure-play ServiceNow partner in the world. Stoyka joined Highmetric as CEO at that time.

“Gryphon Investors had a strategy to grow a great ServiceNow ecosystem partner company specializing in creative solutions,” he said. “I bought into what they planned. The truth is, there’s a great growth opportunity in the ServiceNow ecosystem. We realized the opportunity to grow something special.”

San Diego-based NewRocket is focused on user experience design within the ServiceNow ecosystem, building solutions that help simplify processes and deliver digital experiences to global clients including Fortune 100 companies.

“We are looking to acquire companies with differentiated capabilities,” Stoyka said. “NewRocket is a leader in UI (user interface) and UX (user experience) on ServiceNow platforms. It’s interesting to see the creative ways they solve problems.”

Stoyka declined to discuss the cost of Highmetric’s NewRocket acquisition.

Highmetric worked with 7 Mile Advisors, a Charlotte, N.C.-based industry-focused investment banker and M&A advisory service, to assess several potential acquisitions in the ServiceNow space, Stoyka said.

“We were looking for outliers, not just the status quo,” he said. “NewRocket was really differentiated. It is focused on user empathy. They look at how to design solutions to maximize the experience of the user. That is something we are looking to bring to every one of our clients. We feel NewRocket is core to that success.”

Going forward, Highmetric will continue to look for new acquisitions, Stoyka said.

“We are in a very good situation now,” he said. “With NewRocket, we now have a complete solution, and a differentiated solution.”

Highmetric has a good record of keeping the executives and employees of its acquisitions, Stoyka said. Nathan Firth, president and principal engineer at NewRocket, is now Highmetric’s chief creative officer, he said.

“Not a lot of companies have a chief creative officer,” he said. “But we think the ability to create something beautiful that you can work with every day is important.”

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