Structured Transaction is First in Company’s 2012 Growth-through-Acquisition Strategy
McLean, VA — April 17, 2012 – Digital Intelligence Systems Corp. (DISYS), a leading global IT staffing and consulting company announces that it has recently acquired certain assets of Conversion Services International, Inc. (CSI), a provider of information management and business process optimization solutions based in East Hanover, New Jersey. With the assistance of middle market investment firm FOCUS, DISYS and CSI’s lender structured a transaction whereby DISYS acquired certain assets that once served as collateral for CSI’s loan with its lender. This deal is the first in DISYS’s recently announced growth-through-acquisition strategy.
As the seventh-fastest growing company in the staffing industry, DISYS has achieved an average organic growth rate of 30% per year since its founding in 1994. The company posted a remarkable 55% growth in 2011, recording $256 million of service revenues compared to $165 million in 2010. For 2012, the company has said that it will look to bolster this growth by expanding its portfolio and reach through strategic acquisition of organizations serving complementary markets.
With a client list including Fortune 500 companies and service offerings deeply rooted in the financial services sector, the assets of CSI served as ideal complements to DISYS’s existing portfolio of business.
“The acquisition of certain CSI assets will give us access to a complementary set of customers and allow us to expand our presence in financial services and other key vertical industries,” said DISYS Chief Executive Officer Mahfuz Ahmed. “Plus, we immediately increase the value we offer our existing clients by expanding our portfolio with CSI’s high-quality information management and business intelligence solutions. We see this as a mutually beneficial transaction and a perfect choice for our first acquisition.”
About Digital Intelligence Systems Corporation (DISYS)
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