Morristown, NJ — October 2, 2018 – Artech Information Systems, LLC (“Artech”) announced today that it has acquired the Talent & Technology Solutions business unit (“TTS”) of CDI Corporation. Transaction terms were not disclosed.
Based in Philadelphia, Pennsylvania, CDI Corporation is a privately held, multinational company that provides engineering, information technology, and staffing services to clients in a range of industries including energy, chemical, transportation and financial services. CDI’s TTS business unit is comprised of a team of approximately 2,500 professionals that deliver IT and engineering talent sourcing services and technology solutions to clients across North America.
The acquisition will significantly enhance Artech’s market position, expanding its global talent pool of billable team members and support staff to over 10,000, and adding or expanding its service delivery locations in Atlanta, GA; Dallas, TX; Phoenix, AZ; West Virginia; and Canada. Additionally, Artech’s annualized revenue run rate will increase to over $750 million.
Artech’s Co-Founder & CEO, Ranjini Poddar said, “We are extremely excited to welcome CDI’s Talent & Technology Solutions team to Artech! With over 65 years of experience servicing a premier client base, we believe the TTS team will contribute meaningfully to our client service capabilities. The team’s drive to deliver extraordinary client outcomes fits well with Artech’s client centric culture, and will elevate our positioning as the go-to source for IT, engineering, and professional expertise.
Ajay Poddar, Artech’s Executive Vice President, added, “We expect this transaction to accelerate growth as we work with TTS’ teams to expand our expand client base and support capabilities in strategic regions throughout the United States and Canada. We are also excited about expanding our services offerings to include Supply Chain Management, Managed Infrastructure Support, NOC L1/L2/L3 Support and RPO services to our new and existing clients.”
Fairmount Partners, a leading independent mergers and acquisitions advisory firm primarily serving professional services, information technology, life sciences and healthcare clients, acted as the exclusive financial advisor to Artech throughout the transaction. Dick Thatcher, Managing Director of Fairmount Partners, noted, “This transaction represents the fourth one in which Fairmount has worked with Artech. We are very impressed with the business the Poddars have built. Fairmount Partners is thrilled to be a part of Artech’s journey to one of the top-7 largest IT staffing firms in the country, and we wish Artech continued success in the future.”
Blank Rome provided legal advice to Artech.
Artech is a certified minority- and women-owned business enterprise (MWBE) committed to maximizing global workforce solutions on behalf of its clients. As a leading-edge technology solutions supplier, Artech provides workforce solutions, IT consulting, and SOW-project services. Headquartered in Morristown, NJ, Artech employs over 7,800 professionals and maintains over 25 locations across the U.S., Canada, India, and China. Artech was founded in 1992 and today is a Tier-1/Preferred Supplier to more than 70 Fortune 500 companies and numerous federal and state government agencies. For more information, please visit the company’s website (www.artech.com).
About CDI Corporation
CDI seeks to create extraordinary outcomes with its clients by delivering solutions based on highly skilled and professional talent. Through its EdgeRock Technology Partners and CDI Engineering Solutions business units, CDI provides engineering, information technology, and staffing solutions to clients in multiple industries, including chemicals, energy, infrastructure, and technology, as well as municipal and state governments. In addition, CDI also provides recruiting and staffing services through its global MRINetwork® of franchisees. Learn more at www.cdicorp.com.
About Fairmount Partners
Fairmount Partners, headquartered in suburban Philadelphia, is a leading independent M&A advisor to companies operating in the healthcare, technology and IT services industries. The firm specializes in advising successful, entrepreneur led middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount has completed more than 200 transactions throughout North and South America, Europe, Asia and Australia. Fairmount Partners is a registered Broker Dealer, member FINRA (www.finra.org) and SIPC (www.sipc.org). For more information, please visit: http://www.fairmountpartners.com.