PHILADELPHIA, Aug. 5, 2015 /PRNewswire/ -- CDI Corp. (NYSE: CDI) announced today that CDI and two corporate partners have signed a memorandum of understanding to join forces and deliver industry leading capabilities to Congruent Talent, a newly formed minority-owned company. Congruent Talent, with the support of its corporate partners, will provide U.S. companies with skilled technical and professional IT and engineering talent. Partnering with Congruent Talent will be Acro Service Corp. (Acro), Mastech Inc. (NYSE MKT: MHH) and CDI. Additionally, CDI will own a 49 percent interest in Congruent Talent.
Congruent Talent is being formed to uniquely serve large enterprises by unifying the fulfillment capability of multiple leading recruitment organizations. Congruent Talent will offer a scalable and efficient mechanism for large clients to deliver on skilled talent requirements while meeting their supplier diversity program goals.
CDI will contribute managed service provider (MSP), vendor management systems (VMS) and operational support to Congruent Talent. Fulfillment capability will be provided by Acro and Mastech, as well as by CDI. Both Acro and Mastech are certified by the National Minority Supplier Development Council.
"Together, we are creating a minority-owned company that will, on day one, offer industry-leading staffing capabilities," said Scott J. Freidheim, CEO and President of CDI. "We look forward to playing our part in supporting Congruent Talent."
"In collaboration with our partners, Congruent Talent will be able to deliver on the most sophisticated and demanding client's requirements," said Congruent Talent CEO and President Jonathan Jackson. "I am proud to be leading such a unique organization dedicated to enabling enterprise supplier diversity program objectives."
Ron Shahani, President and CEO of Acro Service Corp., said, "Congruent Talent opens doors to new opportunities in national markets for diversity staffing services. Congruent Talent's partners contribute resources, experience and expertise that combine to create an organization with unrivaled abilities to serve the diversity staffing needs of large enterprises throughout the U.S."
Mastech President and CEO Kevin Horner said, "We are excited about this opportunity to partner with Congruent Talent as a provider of recruitment support services and are committed to leveraging our recruitment-centric business model to meet Congruent's fulfillment needs."
CDI Corp. (NYSE: CDI) provides client-focused engineering, information technology and staffing solutions. Our customers operate in a variety of industries, ranging from Oil, Gas & Chemicals to Aerospace & Industrial Equipment, and High Technology, and include corporate, federal, state and municipal entities. We serve customers through offices and delivery centers in the United States, Canada and the United Kingdom. We also provide staffing services through our global MRINetwork® of franchisees. Learn more at www.cdicorp.com
About Acro Service Corp.
Acro Service Corp. is one of the nation's largest staffing companies, offering expert solutions in: staff augmentation, managed service provider (MSP) programs, and vendor management systems (VMS). Through Acro's commitment to quality, responsible management and industry-leading best practices, Acro has achieved a flawless record of growth and profitability since opening its doors in 1982. Acro currently has 28 U.S. offices, and six international offices. Acro is among the nation's largest certified minority business enterprises and is a Corporate Plus® Member of the National Minority Supplier Development Council. To learn more, go to www.acrocorp.com
About Mastech, Inc.
Leveraging the power of 29 years of IT experience, Mastech (NYSE MKT: MHH) provides Information Technology Staffing services in the disciplines which drive today's business operations. More information about Mastech can be found at www.mastech.com
Caution Concerning Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address expectations or projections about the future, including, but not limited to, statements about our strategies for growth and future financial results (such as revenue), are forward-looking statements. Some of the forward-looking statements can be identified by words like "anticipates," "believes," "expects," "may," "will," "could," "should," "intends," "plans," "estimates" and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions that are difficult to predict. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to: weakness in general economic conditions and levels of capital spending by clients in the industries we serve; weakness or volatility in the financial and capital markets, which may result in the postponement or cancellation of our clients' capital projects or the inability of our clients to pay our fees; the termination or non-renewal of a major client contract or project; delays or reductions in government spending; credit risks associated with our clients; competitive market pressures; the availability and cost of qualified personnel; our level of success in attracting, training and retaining qualified management personnel and other staff employees; changes in tax laws and other government regulations including the impact of healthcare reform laws and regulations; the possibility of incurring liability for our business activities, including the activities of our temporary employees; our performance on client contracts; negative outcome of pending and future claims and litigation; and government policies, legislation or judicial decisions adverse to our businesses. More detailed information about these and other risks and uncertainties may be found in our filings with the SEC, particularly in the "Risk Factors" section of our Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of our Form 10-Ks and Form 10-Qs. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We assume no obligation to update such statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE CDI Corp.