FAIRFAX, Va., Sept. 16, 2021 /PRNewswire/ -- DIGITALSPEC ("DSPEC"), a cutting-edge Information Technology (IT) and digital solutions firm has today announced its acquisition by growth equity fund, Neural Investments in partnership with Island Empire Community Development (Island Empire), a Native Hawaiian Organization (NHO). Island Empire is looking to accelerate the evolution of next-generation IT consulting and delivery capabilities through DIGITALSPEC and its subsidiary Island Empire Technology Services (IETS). IETS has an application for certification as a NHO-owned 8 (a) pending with the U.S. Small Business Association and once that certification has been obtained, IETS will be able to leverage its IT consulting services to the U.S Department of Defense (DoD) through sole-sourced contracts in amounts upto $100M. NHO 8(a) Contract Vehicle will enable IETS to drive greater organizational efficiency for the DoD while providing benefits to the native Hawaiian community. DIGITALSPEC will continue to maintain its current branding and identity as a wholly-owned subsidiary of Island Empire.
Island Empire, a NHO, headquartered in Kailua, Hawaii, and Neural Investments, of Great Falls, VA, is proud to announce the joint acquisition of DIGITALSPEC, LLC, a graduate of the SBA 8(a) Program, and leading information technology (IT) and consulting firm who has demonstrated exceptional growth in the federal markets. DIGITALSPEC was founded in 2005 and is headquartered in Fairfax, VA supporting federal and commercial clients nationally and throughout the greater Washington, DC area.
This growth centric, NHO acquisition creates a powerful platform for expansion and evolution of the core service offerings by combining strategic vision, capital and the opportunity to leverage larger sole-sourced contracts (upto $100M) while securing the existing ones through the SBA Super 8(a) Contract Vehicle.
DSPEC has proven itself across a myriad of federal customers by delivering cutting-edge IT solutions and creating differentiated customer experience second to none. With the infusion of growth capital and access to additional contract vehicles, DSPEC will accelerate its growth with next-generation digital services, including Artificial Intelligence powered Digital Transformation services, UI/UX design, Open Source Platform services, Cloud, Big Data, DevOps, and IT Lifecycle services.
"Together we can leverage larger sole source contracts, empowering Native Hawaiians both socially and culturally by creating economic benefits through our various giveback programs. It is our mission to follow through on our Kuleana (responsibility and privilege) to provide for Native Hawaiians in the way for which the NHO and 8(a) program has intended," Tautua Reed, Chairman Island Empire said.
"We are very pleased with the capabilities stack and customer experiences DIGITALSPEC has created. We look to build upon that platform by both accelerating organic growth as well as identifying new opportunities for better scale and differentiated offerings," a spokesperson for Neural investment said.
"This is an exciting day for the DSPEC Team as we join industry stalwarts in creating a culture of team member engagement, customer centricity and innovation," said Charles Dadoo, who will continue operating as CEO of DIGITALSPEC to manage and provide oversight of each programs' success and delivery.
"As a co-founder of DIGITALSPEC, I am extremely excited that this acquisition will allow us to create a platform company with the leadership, infrastructure, and ideation necessary to attract strong business partners and position us for exponential growth," said Vishal Dadoo, who will continue as Chief Growth Officer (CGO) of DIGITALSPEC, leading opportunities under this new Super 8(a) Contract Vehicle and oversee the future growth.
DIGITALSPEC, LLC. is an SBA-certified minority and small business, CMMI Level SVC/3, ISO 9001:2015, ISO 20000:2011, ISO 27001:2013 certified technology corporation, encapsulating more than 100 years of combined business and IT experience, deep domain expertise, and rich technical knowledge. Founded in 2005, the organization is headquartered in Fairfax, VA, supporting a spectrum of federal and commercial clients.
The Federal clients include the Department of State, Department of Commerce, Drug Enforcement Administration (DEA), Department of Education, DISA, Department of Defense (DOD)/Washington Headquarters Services (WHS), Missile Defense Agency (MDA), Transportation Security Administration (TSA), Customs and Border Protection (CBP), and Immigration and Customs Enforcement (ICE).
About Island Empire Community Development (IECD)
Island Empire Community Development, a NHO, headquartered in Kailua, Hawaii, who works closely with Federal Government Clientele, while contributing to the growth of locally owned businesses, neighborhoods & charitable foundations in hopes to accelerate the well-being & success of their people.
About Neural investment, LLC
Neural Investments is a Virginia based Private Equity group focused on facilitating inclusive growth. It believes that the power of diversity amplifies the spirit of entrepreneurship. Hence, its mission is to invest in entrepreneurs from minority and disadvantaged communities. It partners with entrepreneurs to provide not just equity capital but access to operating platforms, scaled back office functions and access to an accomplished advisory network to help them envisage in more impactful and scaled growth journeys.