Digital Intelligence Systems (DISYS) has acquired Signature Consultants, an IT staffing firm from Fort Lauderdale, Florida, for an undisclosed sum.
This is technology M&A deal number 227 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Founded in 1994 and headquartered in McLean, Virginia, DISYS is a global managed services and staffing firm with 33 offices and four delivery centers worldwide.
Signature was founded in 1997 and currently has 29 locations throughout North America.
DISYS Acquires Fellow IT Staffing Firm Signature Consultants
The deal will create one of the largest providers of IT staffing services in the United States, with a combined annual revenue of $860 million, according to the company. The combined company will also be the second-largest minority-owned staffing firm in the country, according to DISYS.
Both businesses will keep their names for the foreseeable future.
Together, DISYS and Signature have more than 7,500 employees and consultants to draw from. The combined company will serve clients from more than 40 offices, eight countries and four delivery centers worldwide. The firm will offer staffing and recruiting services, managed services programs (MSPs), consulting and project management and automation support.
DISYS’s current CEO, Mahfuz Ahmed, will serve as the CEO of the combined organization. Dr. Jay Cohen, founder and former CEO of Signature, will continue to oversee the day-to-day functioning of Signature operations and focus on the cultural integration of the newly combined organization. The senior leadership teams of both organizations will also remain intact, the company said.
DISYS Acquires Signature: “Within Striking Distance…”
Mahfuz Ahmed, DISYS’ CEO, commented on the deal:
“For DISYS, combining forces with Signature is a great strategic fit for both of our organizations, this brings expanded opportunities as we continue to diversify our account portfolio and puts us within striking distance of becoming a $1B firm. DISYS and Signature share attributes that create a synergistic whole and we believe our complementary service offering will enable us to reach new levels of growth. We are stronger together and look ahead to a bright future as we continue to set the standard for the staffing and solutions industry.”
Dr. Jay Cohen, founder of Signature, said:
“DISYS’ strong operations, successful brand, core values, and exceptional industry practices make them an excellent strategic partner for us. The combination of our two organizations creates a powerful force in the industry, expanding our clients’ access to an even greater array of IT and professional talent and specialized services and providing enhanced opportunities for our consultants and employees to further their skill development and careers.”
The transaction will be funded through debt financing provided by Wells Fargo Bank and The Carlyle Group.
