McLean-based Digital Intelligence Systems LLC plans to acquire the legal entities of Florida-based Signature Consultants LLC, creating the second largest minority-owned staffing firm in the nation.
In a news release Thursday, Digital Intelligence Systems, or DISYS, said the combined company would have annual revenue of $860 million. Both businesses will maintain their respective brands in the marketplace for the foreseeable future.
The combined operations will have more than 7,500 employees and consultants, serving clients from more than 40 offices, eight countries, and four delivery centers worldwide. Together, the IT firm will offer capabilities in staffing and recruiting, managed services programs, consulting and project management, and automation support.
Current DISYS CEO Mahfuz Ahmed, will serve as the CEO of the combined organization. Dr. Jay Cohen, founder and former CEO of Signature, will remain with the new entity and continue his oversight of day-to-day functioning of Signature operations and to focus on the cultural integration of the combined organization. The senior leadership teams of both organizations will also remain intact.
“This brings expanded opportunities as we continue to diversify our account portfolio and puts us within striking distance of becoming a $1 billion firm,” Ahmed said. “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.”
The transaction will be funded through debt financing provided by Wells Fargo Bank and The Carlyle Group.
Wells Fargo Securities LLC served as the exclusive financial advisor to Signature Consultants, while Deloitte Consulting provided advisory services on behalf of DISYS.
DISYS, founded in 1994, is a global managed services and staffing firm with 33 offices and four delivery centers worldwide. Signature Consultants, based in Fort Lauderdale, Fla., was established in 1997 and has 29 locations across North America. Signature Consultants is the parent company to Hunter Hollis and Madison Gunn.