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Cultural Alignment Between Firms Smooths Acquisition, Expanded Team Enables IT Service Provider to Meet Growing Demand for Services
ATLANTA – November 29, 2022 – Cogent Growth Partners (CGP), the leading buy-side intermediary for IT Services mergers and acquisitions, today announced that it advised rockITdata in their recent strategic acquisition of Pharos Group, Inc.
“Alignment of cultures and fit of the opportunity are two of the most important factors needed to assure M&A success,” said George Sierchio, Executive Vice President and Senior Partner, Cogent Growth Partners. “rockITdata and Pharos Group share vast federal government market expertise and a very similar cultural with both companies being designated as Service-Disabled Veteran-Owned Small Businesses, which, when combined with rockITdata’s deep AI and ML-enabled technology, should position them well for their business objectives surrounding revolutionary changes in this technology landscape.”
rockITdata, a minority-owned, woman-owned, and certified Service-Disabled Veteran-Owned Small Business (SDVOSB), provides world class IT consulting services to the government and commercial sectors. Founded in 2019, rockITdata has rapidly ascended the cloud integration market, becoming an AWS Advanced Tier Partner and Public Sector Service Provider. Focused on AWS and Salesforce capabilities, rockITdata has combined advanced AI and Machine Learning (ML) capabilities with a proprietary contact center model to create an innovative Contact Center as a Service (CCaaS) solution, rockITCX™.
“Because the Contact Center as a Service market is growing tremendously, we needed a strategic acquisition to cement our position as a market leader,” said Marlie Andersch, CEO and Founder of rockITdata. “With Cogent Growth Partner’s help, we were thrilled to be able to identify Pharos Group as an acquisition candidate that was well-aligned with our goals and ready to join forces with us to re-invent the contact center marketplace.”
As a result of the acquisition of Pharos Group, rockITdata will add more than 40 industry-leading professionals to the rockITdata ranks. The two companies will also integrate senior management consulting with best-in-class technology into the CCaaS model to provide strategic planning, training and portfolio management services.
“Combining Pharos with rockITdata will enable the hypergrowth that we have been seeking,” said Tim Ciampaglio. “Additionally, our cultures are completely aligned, which will enable us to retain our great people as well as attract new A-level talent.”
Pharos Group, Inc. is a Service-Disabled Veteran-Owned Small Business (SDVOSB) information technology, training and education, and management consulting firm. Pharos Group provides management consulting and healthcare cybersecurity IT services to government agencies and commercial entities.
rockITdata offers next-generation cloud technology and contact center solutions, purpose-built for government. The company’s innovative solutions elevate customer support experiences for public sector agencies of all sizes, while delivering value of cloud infrastructure scalability. rockITdata is a Veteran, Minority, and Woman-owned Small Business Certified by NWBOC. Visit us at www.rockitdata.com.
About Cogent Growth Partners
Cogent Growth Partners, the leading IT Services mergers and acquisitions advisory firm nationwide with more than 150 closed transactions since 2010, taps into the growth opportunities found in America’s IT businesses. Cogent accelerates the M&A process with a set of proprietary tools and processes that enable buyers and sellers to stay focused on running their respective businesses. Anyone who wants to know why Cogent is different, need look no further than their promise: Providing Transaction Therapy™ for IT Business Owners. For more information, email firstname.lastname@example.org, visit www.cogentmergers.com or call 678-820-5288.