BETHESDA, Maryland and NEW YORK – (COMMERCIAL THREAD) –Digital Management Holdings, LLC (âDMIâ or âthe Companyâ), a global digital transformation solutions company, today announced that it has received a strategic investment from a subsidiary of OceanSound Partners, LP (âOceanSoundâ). OceanSound is a growth-oriented private equity firm that invests in technology and technology services companies serving government and corporate end markets. DMI will continue to operate under the direction of the existing management team, led by Founder and CEO Jay Sunny Bajaj, who will retain a significant stake in the company. Financial terms of the transaction were not disclosed.
Founded in 2002 and headquartered in Bethesda, Maryland, DMI is a leading provider of digital transformation and managed mobility services to commercial and government customers. DMI offers an integrated suite of agile software development and next-generation engineering solutions that combine business strategy, domain-specific knowledge and technical expertise. The Company works closely with its clients to meet their complex business challenges and optimize their growth potential. DMI has been positioned as a leader in the GartnerÂ® Magic Quadrant â¢ for Managed Mobility Services, globally for six consecutive years.
DMI has more than 2,100 employees in 7 countries and serves a diverse portfolio of more than 200 clients, including federal, state and local government agencies and large corporations in vertical markets such as automotive, consumer and retail. retail, financial services and health care. DMI serves its clients through a unique global delivery model combined with its network of digital design studios, agile software development centers and mobile service centers located in North America, South America, Europe and Europe. Asia.
âThis investment underlines DMI’s privileged position in the market and is a tremendous validation of the long-term growth potential of the company,â said Sunny Bajaj. âThe marriage of our technological capabilities and customer relationships with the financial strength and network of OceanSound makes us even stronger and strategically positions DMI to be the leader during this time of extraordinary digital disruption. We chose OceanSound as a partner because of their extensive experience at the intersection of commercial and government technology markets and we look forward to leveraging their expertise in business development and operational excellence. This partnership will allow us to better serve our corporate clients by allowing us to increase investments in our people while accelerating our market expansion and go-to-market initiatives. ”
âSunny and his team have done an outstanding job building DMI brick by brick and have been very far-sighted in focusing on mobile-centric digital transformation solutions for governments and business customers around the world,â said Joe Benavides , partner and co-founder of OceanSound. . “DMI Maximizes Margins Growth For Its Customers Through A Consultative Approach To Digital Modernization Focused On Software Development To Improve The Customer Experience And Other Business Workflows Integrated Into Their Customers’ Business Systems.” . DMI has excelled in leveraging its next-generation software engineering solutions developed for commercial customers to create differentiated solutions to better solve the challenges facing their government customers. We are excited to leverage our strategic insights, our engineering-style approach to value creation, and our extensive resources to help create a better and faster growing DMI. ”
âCompanies are modernizing existing business applications and processes at an accelerated pace and DMI customers see them as an essential part of their mission,â added Addison Nordin, director, OceanSound. âThe market for digital solutions is growing rapidly, becoming increasingly complex and essential to the success of any organization. DMI is uniquely positioned to take advantage of these trends and help its customers solve their most pressing business problems. ”
Blackstone Credit and Goldman Sachs Asset Management Division provided committed financing for the transaction.
Baird served as financial advisor and Jones Day served as legal advisor to DMI. Miles & Stockbridge advised the management of DMI. DC Advisory acted as exclusive financial advisor and Gibson, Dunn & Crutcher LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisers to OceanSound.
About Digital Management Holdings, LLC
DMI is a global technology solutions company specializing in digital strategy, design, transformation and support. DMI offers solutions for AI and analytics, commerce, customer experience, cloud platforms, application development, mobile and cybersecurity. Born digital, DMI has been providing business-critical solutions since 2002 to more than 100 Fortune 1000 companies and the fifteen federal executive departments in the United States. For more information on DMI’s smart digital solutions, visit www.dminc.com.
About OceanSound Partners
OceanSound Partners is a New York-based private equity firm pursuing controlling investments in technology and technology services companies serving government and corporate end markets. OceanSound uses a partnership approach, working closely with founders, entrepreneurs and leaders of mid-market companies to drive transformational growth. For more information, please visit www.oceansoundpartners.com.
* Gartner, Magic Quadrant â¢ for Managed Mobility Services, Global, Katja Ruud, Leif-Olof Wallin, Bill Menezes, April 6, 2021. This report was not released in 2017 and was previously titled “Magic Quadrant for Managed Mobility Services, Worldwide from 2015-2016.
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