Diversified Information Technologies acquires Active Data Services, Inc.
Thursday, October 15, 2009
Press release from the issuing company
Scranton, Pa.-- Diversified Information Technologies, a leading provider of document and information lifecycle solutions, announced today that it has acquired Active Data Services, Inc., a business process outsourcing firm headquartered in Raleigh-Durham, NC.
Diversified Information Technologies (Diversified) solutions manage the complete document and information lifecycle and include integrated records management for both physical and electronic records storage; electronic mailroom processing services; document imaging; and workflow automation and information management consulting services. The company serves the Fortune 1000 in the financial, insurance, healthcare, government and other industries.
Active Data Services (ADS) provides document imaging, integrated print and electronic billing, and customer communications solutions in the healthcare, insurance, financial and other industries.
Although financial terms of the acquisition were not disclosed, Diversified's 2008 revenue was approximately $35 million, and ADS' 2008 revenue was approximately $15 million according to company spokespersons. ADS executives who will be joining Diversified include Arun Singh, Peter Ransome, Raju Gadiraju, and Susan Cotter.
"Through this strategic acquisition Diversified is expanding its footprint in the healthcare industry, its market presence in the Southeast, and is introducing new and expanded services to the market," said Diversified's President and CEO Scott Byers. Byers continued, "The acquisition establishes a new and significant operations center in the Research Triangle Park. Furthermore, it supports our mid-term growth goal of 20% revenue growth per year."
"A year ago, Diversified's Board approved a new strategic plan with strategic acquisitions as one of two avenues for growth. Scott Byers was appointed president & CEO and he appointed several new executives to strengthen the company's leadership team. This is our first major acquisition since then," stated Clifford A. Melberger, Diversified's Chairman of the Board.
"Our companies' combined strengths, complementary markets and services, and solid leadership teams will position Diversified as a significant provider in the outsourced information management services field," said Ken Eller, CEO of ADS. Eller continued, "As a leading provider of services that facilitate the transition to electronic medical records (EMR) in the healthcare industry, ADS has a solid customer base in the Southeast, a region that has experienced consistent business investment and growth in the technology and healthcare markets."