Inside a Mega-Merger
It only took about six months for one of the industry’s biggest deals ever to come together.
And, once again, the concept of business going global was at the heart of Diversified’s acquisition of Technical Innovation, which was announced Tuesday in a joint press release.
In the end, more than 800 people will come together to help the combined company meet the ever-increasing global needs of its clients as part of the acquisition. The price Diversified paid to acquire Technical Innovation has not been made public.
In terms of annual revenue, Diversified finished 2015 at $215 million and Technical Innovation reported $180 million in revenue last year.
Technical Innovation CEO Mike Landrum, who will help to integrate TI into Diversified’s operations for the next nine to 12 months before evaluating his future with the new venture, says he made “a number of presentations” to potential buyers in the six months since venture capitalist and primary TI owner MSouth Equity put the company up for sale.
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