Private Equity-Backed Milestone Technologies Acquires SMCI
Global IT managed services firm Milestone Technologies, backed by private equity firm H.I.G. Capital, has acquired Software Management Consultants, Inc. (SMCI), a next-gen IT consulting, talent management and digital solutions provider from Glendale, California. Terms of the deal were not disclosed.
This is technology M&A deal number 510 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
The deal extends Milestone’s footprint to the U.S. southwest and southeast regions and bolsters the Silicon Valley company’s IT managed services portfolio, Milestone said.
Founded in 1983, SMCI’s expertise is in delivering IT and digital transformation through a variety of services and solutions that include running large-scale PMO initiatives and talent management solutions across various industries, according to Milestone.
Milestone Acquires SMCI: Executive Insight
Sameer Kishore, president and CEO, Milestone, commented:
“I am thrilled to welcome the SMCI team, their customers, and partners to the Milestone family. We are very excited about the capabilities SMCI adds to our services portfolio. Our teams will collaborate to drive significant value for our clients. SMCI and Milestone share similar values and beliefs with a strong focus on an employee-first culture and providing best-in-class services to clients.”
Robert Maltzman, COO, SMCI, said:
“We are excited to be joining the Milestone family and I am looking forward to our collective success. Given Milestone’s service portfolio and global presence, we now have the ability to expand our offerings to help our clients with their global IT needs. Becoming a part of Milestone also provides our employees with greater opportunities for career growth and development.”
Milestone is a portfolio company of private equity firm HIG Capital. Founded in 1997, Milestone has more than 2,600 employees serving more than 200 clients. The company operates in 36 different countries.
This marks the second acquisition for the company this year. In January, Milestone bought ServiceNow Elite Partner and managed IT services provider Covestic of Kirkland, Washington.